Banach Consumer Decision Prozess
Consumer Decision Prozess
Consumer Decision Prozess
Set of flashcards Details
| Flashcards | 7 |
|---|---|
| Language | English |
| Category | Marketing |
| Level | University |
| Created / Updated | 28.03.2014 / 13.03.2015 |
| Licencing | Not defined |
| Weblink |
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The Consumer Decision Process
5 Steps
Need Recognition
Search for Information
Evaluation of Alternatives
Purchase and Consumption
Postpurchase
Step 1.
Consumer Decision Process
Need Recognition
Functional & Psychological Needs
Step 2.
Consumer Decision Process
Search for Information
Internal & External
Factors affecting the Search Process
- The perceived benefits of search
- The locus of control
- Actual or perceived risk (Performance, Financial, Psychological risks)
- Type of product
- Speciality Good (considerable effort to search)
- Shopping goods (will spend time searching)
- Convenience goods (no effort)
Step 3.
Consumer Decision Process
Evaluation of Alternative
Evaluation criteria - A set of important attributes or evaluative criteria
Attribute Sets
- Universal sets: include all possible choices
- Retrieval Sets: brands/stores brought up from memory
- Evoked Set: brands/stores considered for purchase
Decision rules
- Compensatory DR: trade off good characteristics against bad characteristics.
- Noncompensatory DR: choose product on the basis of a subset of its characteristics.
Decision Heuristics
- Price, Brand, Product presentation, etc
Step 4.
Consumer Decision Process
Purchase
Impulse Purchase
- A buying decision made on the spot
Habitual Purchase
- Purchase decision with little conscious effort.
- Don’t even consider alternatives
Limited problem solving
- moderate amount of effort and time
- moderate Risk
- prior experience with the product or service
Extended problem solving
- huge Risk (financial, performanc, social)
- a lot of efford searching for information
Step 5.
Consumer Decision Process
Postpurchase
Postpurchse Dissonance
- Buyers Remorse
- Negative Word of Mouth
Customer Satisfaction/Loyalty
- Build realistic expectations
- Encourage customer feedback
- Provide money back guarantees
- Customer relationship management (CRM)
Factors Influencing the Consumer Decision Process
Psychological Factors
Motive (PSSP Hierarchy)
- Physiological, Safety, Social and Personal needs
Attitude
- Affective: what we feel
- Behavioral: action we undertake
- Cognitive: what we believe to be true
Perception
- Our perceptual view of the world
Learning
- change in a person’s thought process
Social Factors
- Family
- Reference Groups
- Culture
Situational Factors
- Purchase Situation
- Shopping Situation
- Temporal State of Mind
... and The Marketing Mix!
