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chapter consumer behavior five McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
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LEARNING OBJECTIVES LO1Articulate the steps in the consumer buying process. LO2Describe the difference between functional and psychological needs. LO3Describe factors that affect information search. LO4Discuss post-purchase outcomes. LO5 List the factors that affect the consumer decision process. LO6 Describe how involvement influences the consumer decision process. Consumer Behavior 5-2
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The Consumer Decision Process 5-3
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Need Recognition Functional needs Psychological needs Royalty-Free/CORBIS ©Digital Vision/PunchStock 5-4
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Search for Information Internal Search for Information External Search for Information 5-5
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Factors Affecting Consumers’ Search Process Perceived Benefits Perceived Costs 5-6
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The Locus of Control Internal Locus of Control = more search activities External Locus of Control = Fate, external factors Royalty-Free/CORBIS ©Comstock/JupiterImages 5-7
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Actual or Perceived Risk Performance Risk Financial Risk Psychological Risk 5-8
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Evaluation of Alternatives: Attribute Sets Universal Retrieval Evoked 5-9
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Evaluation of Alternatives: Evaluate Criteria Evaluative CriteriaDeterminant Attributes What are some of the features of a vacation that would be in your evaluative criteria? Digital Vision/Getty Images 5-10
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Evaluation of Alternatives: Decision Heuristics Mental Shortcuts PriceBrand Product presentation Amos Morgan/Getty Images 5-11
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Purchase and Consumption Increase Conversion rate Reduce real or virtual abandoned carts Merchandise in stock Reduce the actual wait time 5-12
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Post-purchase: Customer Satisfaction Dissonance Customer Loyalty 5-13
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Factors Influencing the Consumer Decision Process 5-14
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InvolvementInvolvement and Consumer Buying Decisions 5-15
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Types of Buying Decisions Extended Problem Solving Extended Problem Solving Limited Problem Solving – Impulse Buying Impulse Buying – Habitual Decision Making Habitual Decision Making Courtesy Wendy’s International, Inc. 5-16
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Return to slide An attitude is a person’s enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea. Glossary 5-17
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Return to slide Consumer decision rules are the set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives. Glossary 5-18
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Return to slide Determinant attributes are product or service features that are important to the buyer and on which competing brands or stores are perceived to differ. Glossary 5-19
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Return to slide Evaluative criteria consist of a set of salient, or important, attributes about a particular product. Glossary 5-20
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Return to slide A consumer’s evoked set comprises the alternative brands or stores that the consumer states he or she would consider when making a purchase decision. Glossary 5-21
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Return to slide Extended problem solving occurs during a purchase decision that calls for a lot of effort and time. Glossary 5-22
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Return to slide Functional needs pertain to the performance of a product or service. Glossary 5-23
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Return to slide Habitual decision making describes a purchase decision process in which consumers engage little conscious effort. Glossary 5-24
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Return to slide Impulse buying is a buying decision made by customers on the spot when they see the merchandise. Glossary 5-25
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Return to slide Involvement is the consumer’s degree of interest in the product or service. Glossary 5-26
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Return to slide Limited problem solving occurs during a purchase decision that calls for, at most, a moderate amount of effort and time. Glossary 5-27
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Return to slide Psychological needs pertain to the personal gratification consumers associate with a product and/or service. Glossary 5-28
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Return to slide Retrieval sets are the brands or stores that can be readily brought forth from memory. Glossary 5-29
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Return to slide Ritual consumption is a pattern of behaviors tied to life events that affect what and how we consume. Glossary 5-30
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Return to slide Shopping goods/services are products or services for which consumers will spend time comparing alternatives. Glossary 5-31
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Return to slide Situational factors are factors specific to the situation. Glossary 5-32
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Return to slide Specialty goods/services are products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers. Glossary 5-33
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Return to slide Universal sets include all possible choices for a product category. Glossary 5-34
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