UCF MAR 3023 Exam 2 Review (Study Guide/
Quizzes) |53 Q’s and A’s
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-Consumer Decision Process - -Need Recognition, Information Search, Alternative Search,
Alternative Evaluation, Purchase, Post-Purchase
-Need Recognition - -The beginning of the consumer decision process; occurs when
consumers recognize they have an unsatisfied need and want to go from their actual, needy
state to a different, desired state.
-Functional Needs - -Pertain to the performance of a product or service.
-Psychological Needs - -Pertain to the personal gratification consumers associate with a
product or service.
-Search for Information - -The second step, after a consumer recognizes a need, is to
search for information about the various options that exist to satisfy that need.
-Internal Search for Information - -Occurs when the buyer examines his or her own
memory and knowledge about the product or service, gathered through past experiences.
-External Search for Information - -Occurs when the buyer seeks information outside his
or her personal knowledge base to help make the buying decision.
-Evaluation of Alternatives - -Once a consumer has recognized a problem and explored the
possible options, he or she must sift through the choices available and evaluate the
alternatives. Alternative evaluation often occurs while the consumer is engaged in the
process of information search.
-Purchase and Consumption - -After evaluating the alternatives, customers are ready to
buy. However, they don't always patronize the store or purchase the brand or item on
which they had originally decided. It may not be available at the retail store, for example.
Retailers therefore turn to the conversion rate to measure how well they have converted
purchase intentions into purchases.
-Conversion Rates - -Percentage of consumers who buy a product after viewing it.
-Post-purchase - -The final step of the consumer decision process is postpurchase
behavior. Marketers are particularly interested in post purchase behavior because it entails
actual rather than potential customers.
Quizzes) |53 Q’s and A’s
If you found this helpful, *Venmo* me @*ASerros* to show your appreciation! Good luck! -
-
-Consumer Decision Process - -Need Recognition, Information Search, Alternative Search,
Alternative Evaluation, Purchase, Post-Purchase
-Need Recognition - -The beginning of the consumer decision process; occurs when
consumers recognize they have an unsatisfied need and want to go from their actual, needy
state to a different, desired state.
-Functional Needs - -Pertain to the performance of a product or service.
-Psychological Needs - -Pertain to the personal gratification consumers associate with a
product or service.
-Search for Information - -The second step, after a consumer recognizes a need, is to
search for information about the various options that exist to satisfy that need.
-Internal Search for Information - -Occurs when the buyer examines his or her own
memory and knowledge about the product or service, gathered through past experiences.
-External Search for Information - -Occurs when the buyer seeks information outside his
or her personal knowledge base to help make the buying decision.
-Evaluation of Alternatives - -Once a consumer has recognized a problem and explored the
possible options, he or she must sift through the choices available and evaluate the
alternatives. Alternative evaluation often occurs while the consumer is engaged in the
process of information search.
-Purchase and Consumption - -After evaluating the alternatives, customers are ready to
buy. However, they don't always patronize the store or purchase the brand or item on
which they had originally decided. It may not be available at the retail store, for example.
Retailers therefore turn to the conversion rate to measure how well they have converted
purchase intentions into purchases.
-Conversion Rates - -Percentage of consumers who buy a product after viewing it.
-Post-purchase - -The final step of the consumer decision process is postpurchase
behavior. Marketers are particularly interested in post purchase behavior because it entails
actual rather than potential customers.
