Marketing Ch 5

Cognitive Dissonance (buyer's remorse)

emotional distress consumers feel after making a high involvement purchase decision; occurs when pre-purchase beliefs and actual behavior do not match

heuristic

rule of thumb that leads to making a decision

Confirmation Bias

tendency to recall information that confirms our beliefs

Attention

expenditures of cognitive resources to a stimulus

consideration set

influenced by motivation to think you should consider more in depth

Perception

occurs when stimuli are registered by one of our 5 senses (sight, smell, taste, touch, feel)

Evoked Set Model

outlines how information search process takes place (Brands - Known Brands - Acceptable Brands - Purchased Brand)

less risk = less need for information less product experience = more need for information high level of interest = more need for information

Information search

Internal Situational Social

3 Influences on Consumers

activities, interests, opinion

AIOs

Problem recognition Information search Evaluate alternatives Purchase decision Post purchase evaluation

Consumer Decision-Making Process

marketing message informs/reminds a consumer they want something

External problem recognition

Self-Actualization Ego Needs Belongingness Safety Physiology

Hierarchy of Needs

effective communication follow-ups warranties/guarantees

How can marketers reduce cognitive dissonance?

just noticeable difference (important to determine so that JND can be made apparent to customers)

JND

motivation, ability, opportunity

M.A.O.

the stronger the initial stimulus, the greater the added intensity needed to perceive a difference

Weber's Law

seek info that reinforces positive ideas about purchase avoid info that contradicts purchase decision returning the product

Ways consumers can reduce cognitive dissonance

personal relevancy, pleasant stimuli, surprising stimuli, contrasting stimuli

What aids in keeping your attention?

Consumer Behavior

all of a consumer's decisions with respect to the acquisition, consumption, and disposition of goods, services, time and ideas by decision making units over time

Self-identity

concept of ideal self; influences what products you buy

time poverty

consumer belief that they are more pressed for time than before

Evaluating alternatives

consumers assign weights to different attributes (based on what is important to them) and rank brands

Problem recognition

occurs when a consumer realizes the difference between their present state and their ideal state

Exposure

reflects the process by which the consumer comes into contact with a stimulus