Consumer Decision Making Process: From Need Recognition to Post-Purchase Evaluation, Quizzes of Principles of Marketing

Download Consumer Decision Making Process: From Need Recognition to Post-Purchase Evaluation and more Quizzes Principles of Marketing in PDF only on Docsity! TERM 1 Consumer decision making process DEFINITION 1 Need Recognition search for information evalutation of alternatives purchase decision post-purchase evaluation TERM 2 Stage one: need recognition DEFINITION 2 occurs when facinng imbalance between actual and desired state marketers play an important role in creating unfulfilled needs TERM 3 Stimulus DEFINITION 3 need recognition is triggered by exposure to stimulus marketing materials are an important source of stimuli stimulus- any unit of input affecting the senses TERM 4 need DEFINITION 4 need something that is requierd TERM 5 want DEFINITION 5 unfulfilled need and has determined a good or service will satisfy it TERM 6 perceived need DEFINITION 6 you feel is essential but is really a want TERM 7 Stage two: informational search DEFINITION 7 internal information search- the process people go through when recalling information stored in their memory external information search- the process of seeking information in the outside environment not in their memory TERM 8 Types of information sources DEFINITION 8 non marketing controlled-not advertising or promotion: personal experiences, personal sources and public sourcesMarketing Controlled Originates with marketers promoting the product or service. Could have bias TERM 9 Stage 3: evaluation of alternatives DEFINITION 9 Awarness set - group of brands found by searchEvoke set - a group of brands a buyer actually considers purchasinginert set- back brandsinept set- avoided brands TERM 10 Stage 4: Alternative Evaluation - purchase DEFINITION 10 Decision to purchase TERM 21 Individual influence on consumer buying decisions DEFINITION 21 Gender Personality Family life cycle Age Self concept Lifestyle TERM 22 Psychological influence on consumer buying decisions DEFINITION 22 Perception Selective exposure Motive TERM 23 Business markets DEFINITION 23 Producer, Reseller, Government, institutional TERM 24 Producer DEFINITION 24 Individual or business organisations that purchase products to make profits by using them to produce other products TERM 25 Reseller DEFINITION 25 Buying to resellFactors resellers consider:Level of demandSpace required relative to potential profitEase of placing ordersAvailability of technical assistanceTraining programs from producers TERM 26 Government DEFINITION 26 Federal, state, country or local governments that buy goods to support internal operations and provide products to their constituents TERM 27 Institutional DEFINITION 27 Organusations with chartable goals TERM 28 Types of business purchses DEFINITION 28 New task purchasestraight-rebuy purchasemodified-rebuy purchase TERM 29 Customer relationship management DEFINITION 29 A management philosophy that relies on software, the internet and other methods to manage customer relationships in an organised way TERM 30 Business buying decision process and factors that may influence it DEFINITION 30 Environmental Organisational Interpersonal Individual Competitive factors Objectives Cooperation Age Economic factors Purchasing policies conflict Education level Political factors Resources Power relationships Personality Legal and regularity forces Buying centre structure Tenure Technological changes Position in organisation Sociocultural issues