Understanding Consumer Decisions Flashcards

Understanding Consumer Decisions Flashcards
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Internal Information Search
If we simply rely on our own history with a product, we've relied on this type of information search.
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External Information Search
When we purchase something because someone else told us it was a good product, we've been motivated by this source of information.
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Information Search
When we determine that we want something, this step in the process helps us determine what alternatives are available.
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Need Recognition
When purchasing a product, this is the first step in our decision-making process.
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Brand Rejection
This occurs when you are very familiar with a brand but absolutely will not purchase it.
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Brand Non-recognition
This happens when you remember a very high quality product, but you can't recognize the brand.
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Brand Recognition
This occurs when you have very little information on a brand, but recognize it when you see or hear it.
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Brand Preference
This happens when we have to consider substitutes, but we really prefer one brand over other brands.
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Brand Insistence
This occurs when only one brand will meet our needs and no other substitute will do.
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The five levels of brand familiarity
Brand insistence, brand preference, brand recognition, brand non-recognition, brand rejection
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Purchase Involvement
The level of this is different depending on how much time it takes us to consider other products or services before buying a product.
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Personalities
Brands develop these based on both what their products are like and how customers perceive them.
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24 cards in set

Flashcard Content Overview

Find out more about how consumers make purchasing decisions. We look at one of the most important aspects of purchasing, brand familiarity, which includes brand insistence, preference, recognition, non-recognition, and rejection. You will also learn more about the steps of the consumer decision-making process, including need recognition, information search, evaluations of alternatives, and purchase and post-purchase behavior. Looking forward, you will look at the role of individual psychology when buying products, including how we remember products. Examples of other topics addressed include purchasing influences and post-purchase dissonance.

Front
Back
Personalities
Brands develop these based on both what their products are like and how customers perceive them.
Purchase Involvement
The level of this is different depending on how much time it takes us to consider other products or services before buying a product.
The five levels of brand familiarity
Brand insistence, brand preference, brand recognition, brand non-recognition, brand rejection
Brand Insistence
This occurs when only one brand will meet our needs and no other substitute will do.
Brand Preference
This happens when we have to consider substitutes, but we really prefer one brand over other brands.
Brand Recognition
This occurs when you have very little information on a brand, but recognize it when you see or hear it.
Brand Non-recognition
This happens when you remember a very high quality product, but you can't recognize the brand.
Brand Rejection
This occurs when you are very familiar with a brand but absolutely will not purchase it.
Need Recognition
When purchasing a product, this is the first step in our decision-making process.
Information Search
When we determine that we want something, this step in the process helps us determine what alternatives are available.
External Information Search
When we purchase something because someone else told us it was a good product, we've been motivated by this source of information.
Internal Information Search
If we simply rely on our own history with a product, we've relied on this type of information search.
Cognitive Dissonance
These feelings characterize how consumers distance themselves from specific purchases when they are not happy with what they bought.
Learning
When something new enters our thinking and influences how we make decisions, this is happening.
Memory
As we take in information and store it for help in making decisions, we use this.
Conditioning
This aspect of marketing is used by marketers to instill associations between brands and things that we value.
External influences that impact our buying decisions
Culture, values, social class
Culture
If we are used to buying a certain type of high-protein dog food because it's what our neighbors buy, this is influencing our purchase.
Value
Values are linked to culture, and they also influence what we buy by affecting our beliefs about what we want.
Social Class
Factors like income, education level, and career contribute to social class, which in turn influences our buying decisions.
Opinion-leader
Fred, who gave you his opinion on what type of motorcycle to purchase, is this type of external influence.
Post-purchase Dissonance
The feeling you can get after a high-involvement purchase (like buying a new car) that required you to pick some options over others, leaving you potentially disappointed.
Evaluation of Alternatives
In this step of the consumer decision-making process, buyers look at all the options and determine how much they will pay for a specific product or service.
Post-Purchase Behavior
When in this step of the consumer decision-making process, buyers talk to others about the positives and negatives of a purchase they made.

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