SPMT 370, EXAM 3 |136 QUESTIONS AND
ANSWERS
Consumer Decision Making Process Overview - -1. Problem Recognition
2. Information Search
3. Alternatives Evaluation
4. Purchase Decision
5. Post Purchase Decision Evaluation
- Consumers are continually making decisions that are meant to... - -...solve
problems & satisfy wants and needs
- Decision Kaking Process 5 activities: - --need/want recognition
-search for information
-evaluation of elder natives
-choice
-post choice evaluation
- Decision Making, Choice, Value - --revolves around motivation (a goal)
-leads to consumer choice
-always linked to value
- 3 Perspectives of the Decision Making Process - -1. Rational decision
making perspective
2. Experiential decision making perspective
3. Behavioral influence decision making
- Rational Perspective - --consumer are rational, carefully arrive at decision
Ex: features of ticket options
- Experiential Perspective - --influenced by feelings
Ex: going snowboarding for fun
- Behavioral Influence Perspective - --decisions are responses to
environmental influences
Ex: see a margarita billboard, go buy a marg
- Perceived Risk - -The perception of the negative consequences that are
likely to result from a course of action and the uncertainty of which course of
action is best to take
- As involvement and risk increase... - -Consumers are motivated to move
more carefully through the decision making process
, - Extended Decision Making - --consumers more diligently through decision
making activities in search of the best information that will help them reach
a decision
-high involvement and significant risk
- Limited Decision Making - --consumers search very little for information
and often reach decisions based largely on prior beliefs about products and
their attributes
-low involvement and low risk
- Habitual Decision Making - --consumers generally do not seek information
at all when a problem is recognized and select a product based on habit
-brand loyalty
-brand inertia
- Summary of Decision Making Process - --decision making processes do not
guarantee maximum value
-consumers often make mistakes or settle for alternatives that they are
unsure of
-most purchases made daily are low involvement and do not entail
significant risk
-some consumers called "maximizes" work to find the best solution
- Satisficimos - -The practice of decision making shortcuts to arrive at
satisfactory, rather than optimal decisions
- Need/Want Recognition - -When consumers perceive a difference between
their actual state and a desired state, the decision making process is
triggered
- Primary distinctions between a want and a need: - --ability to put off the
purchase decision
-freedom to choose
- Marketing Implications - -You want to trigger a need/want
-demonstrate to the consumer the difference between actual state and
desired state
- Consumer Search Behavior - -The set of behaviors that consumers engage
in as they seek information that can be used to satisfy needs/wants
- Consumers seek: - --availability of alternatives
-price of alternatives
-relevant attributes that should be considered + importance
-performance/quality of each alternative
ANSWERS
Consumer Decision Making Process Overview - -1. Problem Recognition
2. Information Search
3. Alternatives Evaluation
4. Purchase Decision
5. Post Purchase Decision Evaluation
- Consumers are continually making decisions that are meant to... - -...solve
problems & satisfy wants and needs
- Decision Kaking Process 5 activities: - --need/want recognition
-search for information
-evaluation of elder natives
-choice
-post choice evaluation
- Decision Making, Choice, Value - --revolves around motivation (a goal)
-leads to consumer choice
-always linked to value
- 3 Perspectives of the Decision Making Process - -1. Rational decision
making perspective
2. Experiential decision making perspective
3. Behavioral influence decision making
- Rational Perspective - --consumer are rational, carefully arrive at decision
Ex: features of ticket options
- Experiential Perspective - --influenced by feelings
Ex: going snowboarding for fun
- Behavioral Influence Perspective - --decisions are responses to
environmental influences
Ex: see a margarita billboard, go buy a marg
- Perceived Risk - -The perception of the negative consequences that are
likely to result from a course of action and the uncertainty of which course of
action is best to take
- As involvement and risk increase... - -Consumers are motivated to move
more carefully through the decision making process
, - Extended Decision Making - --consumers more diligently through decision
making activities in search of the best information that will help them reach
a decision
-high involvement and significant risk
- Limited Decision Making - --consumers search very little for information
and often reach decisions based largely on prior beliefs about products and
their attributes
-low involvement and low risk
- Habitual Decision Making - --consumers generally do not seek information
at all when a problem is recognized and select a product based on habit
-brand loyalty
-brand inertia
- Summary of Decision Making Process - --decision making processes do not
guarantee maximum value
-consumers often make mistakes or settle for alternatives that they are
unsure of
-most purchases made daily are low involvement and do not entail
significant risk
-some consumers called "maximizes" work to find the best solution
- Satisficimos - -The practice of decision making shortcuts to arrive at
satisfactory, rather than optimal decisions
- Need/Want Recognition - -When consumers perceive a difference between
their actual state and a desired state, the decision making process is
triggered
- Primary distinctions between a want and a need: - --ability to put off the
purchase decision
-freedom to choose
- Marketing Implications - -You want to trigger a need/want
-demonstrate to the consumer the difference between actual state and
desired state
- Consumer Search Behavior - -The set of behaviors that consumers engage
in as they seek information that can be used to satisfy needs/wants
- Consumers seek: - --availability of alternatives
-price of alternatives
-relevant attributes that should be considered + importance
-performance/quality of each alternative
