MARK 3000 Exam 2 Cuppari Study Guide |
Questions with 100% Correct Answers | Verified |
Latest Update 2026
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Terms in this set (143)
Consumer Behavior Marketers want to understand WHY and HOW
consumers behave the way they
do
• Consumer decisions are based on emotional and
analytical factors
• Sociology
• Psychology
• Chemistry
• Neuro-science
The Consumer Decision Process 1. Need Recognition
2. Information Search
3. Alternative Evaluation
4. Purchase and Consumption
5. Post Purchase
Step 1: Need Recognition Do you NEED it, or do you WANT it?
NEEDS: Essential for life, job, school, etc.
WANTS: Something you desire, but not required for
survival
Regardless of the level of your hunger, your desire
for ice cream will never be
satisfied by any type of salad
,Functional Needs relates to the performance of the produce or
service
Psychological Needs relates to the personal satisfaction associated with
the product
or service
Step 2: Search for Information After a consumer recognizes a need, he or she
must search for information about the
various options that exist to satisfy that need.
Internal and external searches for information
internal information search the buyer examines his or her own memory and
knowledge about the
product or service gathered through past
experiences.
• Have I purchased it before? Did I like it? Did it
work the way I expected? Did it
meet my overall needs?
external information search the buyer seeks information outside his or her
personal knowledge base to help make the buying
decision.
• Word of mouth (friends & family), online reviews,
recommendation sites, e
Factors Affecting Consumers' Search Perceived Benefits versus Perceived Costs - is it
Processes worth the time and effort to search for info?
The Locus of Control indicates how much
control people think they have over the outcomes
of various activities, such as purchasing a product
or service
, Internal Locus of Control people believe
they have some control over the outcomes of their
actions… so they
engage in more search activities
External Locus of Control people believe that fate, luck, karma or the
universe control all outcomes… so why
bother searching
Performance Risk (5 types of risk involves the perceived danger inherent in a poorly
associated with purchase decisions) performing product or service
Financial Risk (5 types of risk is associated with a monetary outlay and includes
associated with purchase decisions) the initial cost of the purchase as well as the costs
of using the item or service
Social risk (5 types of risk associated involves the fears that consumers suffer when they
with purchase decisions) worry others might not regard their purchases
positively
Physiological (or safety) Risk (5 types refers to the fear of an actual harm should
of risk associated with purchase the product not perform properly.
decisions)
Psychological Risk (5 types of risk are those risks associated with the way people will
associated with purchase decisions) feel if the product or service does not convey the
right image
Step 3: Evaluation of Alternatives- Research has shown that a consumer's mind
Attribute Sets organizes and categorizes alternatives to aid his or
her decision process
Questions with 100% Correct Answers | Verified |
Latest Update 2026
Save
Terms in this set (143)
Consumer Behavior Marketers want to understand WHY and HOW
consumers behave the way they
do
• Consumer decisions are based on emotional and
analytical factors
• Sociology
• Psychology
• Chemistry
• Neuro-science
The Consumer Decision Process 1. Need Recognition
2. Information Search
3. Alternative Evaluation
4. Purchase and Consumption
5. Post Purchase
Step 1: Need Recognition Do you NEED it, or do you WANT it?
NEEDS: Essential for life, job, school, etc.
WANTS: Something you desire, but not required for
survival
Regardless of the level of your hunger, your desire
for ice cream will never be
satisfied by any type of salad
,Functional Needs relates to the performance of the produce or
service
Psychological Needs relates to the personal satisfaction associated with
the product
or service
Step 2: Search for Information After a consumer recognizes a need, he or she
must search for information about the
various options that exist to satisfy that need.
Internal and external searches for information
internal information search the buyer examines his or her own memory and
knowledge about the
product or service gathered through past
experiences.
• Have I purchased it before? Did I like it? Did it
work the way I expected? Did it
meet my overall needs?
external information search the buyer seeks information outside his or her
personal knowledge base to help make the buying
decision.
• Word of mouth (friends & family), online reviews,
recommendation sites, e
Factors Affecting Consumers' Search Perceived Benefits versus Perceived Costs - is it
Processes worth the time and effort to search for info?
The Locus of Control indicates how much
control people think they have over the outcomes
of various activities, such as purchasing a product
or service
, Internal Locus of Control people believe
they have some control over the outcomes of their
actions… so they
engage in more search activities
External Locus of Control people believe that fate, luck, karma or the
universe control all outcomes… so why
bother searching
Performance Risk (5 types of risk involves the perceived danger inherent in a poorly
associated with purchase decisions) performing product or service
Financial Risk (5 types of risk is associated with a monetary outlay and includes
associated with purchase decisions) the initial cost of the purchase as well as the costs
of using the item or service
Social risk (5 types of risk associated involves the fears that consumers suffer when they
with purchase decisions) worry others might not regard their purchases
positively
Physiological (or safety) Risk (5 types refers to the fear of an actual harm should
of risk associated with purchase the product not perform properly.
decisions)
Psychological Risk (5 types of risk are those risks associated with the way people will
associated with purchase decisions) feel if the product or service does not convey the
right image
Step 3: Evaluation of Alternatives- Research has shown that a consumer's mind
Attribute Sets organizes and categorizes alternatives to aid his or
her decision process
