MKT 305 Exam queries and answers
graded A+
Consumer Behavior - ANS✅✅Process by which individuals or groups select , use, or dispose of
goods, services, ideas, or experiences to satisfy needs and wants
3 roles of consumers - ANS✅✅1. User- person using product
2. Payer-CAN be separate from consumer.
3.Buyer- Person who makes transaction
Consumer Buying decision process - ANS✅✅Five stage process that outlines how consumers make
buying decisions
Step 1: CBDP - ANS✅✅Problem recognition: Occurs when consumers realizes a need or want
Step 2: CBDP - ANS✅✅Information Search: consumer considers only a select subset of brands
Awareness Set - ANS✅✅Consists of brands of which a consumer is aware
Evoked set - ANS✅✅Consists of brands in a product category that the consumer remembers at the
time of decision making
Consideration set - ANS✅✅Of the brands in the evoked set, those considered unfit are eliminated
right away. The remaining are the consideration set
Step 3:CBDP - ANS✅✅Alternative Evaluation:Process and steps involved in evaluating products are
called choice models
Compensatory choice model - ANS✅✅Consumers arrives at a choice by considering all the
attributes of a product and mentally trading off strengths and weakness in attributes of products.
Noncompensatory - ANS✅✅Conjunctive model
Disjunctive model
, Lexicographic model
Elimination Model
Step 4: CBDP - ANS✅✅Purchase: Store choice- various typer of retailers. Nonstore choice- online,
catalogs, garage sale
Step 5:CBDP - ANS✅✅Post-Purchase Evaluations
Cognitive Dissonance - ANS✅✅The doubt and regret buyers may feel about purchase choice
Types of consumer decision making - ANS✅✅1. Routine
2. Limited
3. Extended
Routine decision making - ANS✅✅Routine activity. ex. buying a soft drink
Limited decision making - ANS✅✅Haven't done as much. ex. try on clothing
Extended decision making - ANS✅✅No previous experience, need information. ex. big ticket items
Psychological factors in the CBDP - ANS✅✅Perception
Learning
Motivation
Attitude
Psychographics
Perception - ANS✅✅Process by which an individual perceives the informations they receive from
the environment
Learning - ANS✅✅Change in content of long-term memory
Motivation - ANS✅✅The state of drive or arousal that drives behavior towards a goal-object
graded A+
Consumer Behavior - ANS✅✅Process by which individuals or groups select , use, or dispose of
goods, services, ideas, or experiences to satisfy needs and wants
3 roles of consumers - ANS✅✅1. User- person using product
2. Payer-CAN be separate from consumer.
3.Buyer- Person who makes transaction
Consumer Buying decision process - ANS✅✅Five stage process that outlines how consumers make
buying decisions
Step 1: CBDP - ANS✅✅Problem recognition: Occurs when consumers realizes a need or want
Step 2: CBDP - ANS✅✅Information Search: consumer considers only a select subset of brands
Awareness Set - ANS✅✅Consists of brands of which a consumer is aware
Evoked set - ANS✅✅Consists of brands in a product category that the consumer remembers at the
time of decision making
Consideration set - ANS✅✅Of the brands in the evoked set, those considered unfit are eliminated
right away. The remaining are the consideration set
Step 3:CBDP - ANS✅✅Alternative Evaluation:Process and steps involved in evaluating products are
called choice models
Compensatory choice model - ANS✅✅Consumers arrives at a choice by considering all the
attributes of a product and mentally trading off strengths and weakness in attributes of products.
Noncompensatory - ANS✅✅Conjunctive model
Disjunctive model
, Lexicographic model
Elimination Model
Step 4: CBDP - ANS✅✅Purchase: Store choice- various typer of retailers. Nonstore choice- online,
catalogs, garage sale
Step 5:CBDP - ANS✅✅Post-Purchase Evaluations
Cognitive Dissonance - ANS✅✅The doubt and regret buyers may feel about purchase choice
Types of consumer decision making - ANS✅✅1. Routine
2. Limited
3. Extended
Routine decision making - ANS✅✅Routine activity. ex. buying a soft drink
Limited decision making - ANS✅✅Haven't done as much. ex. try on clothing
Extended decision making - ANS✅✅No previous experience, need information. ex. big ticket items
Psychological factors in the CBDP - ANS✅✅Perception
Learning
Motivation
Attitude
Psychographics
Perception - ANS✅✅Process by which an individual perceives the informations they receive from
the environment
Learning - ANS✅✅Change in content of long-term memory
Motivation - ANS✅✅The state of drive or arousal that drives behavior towards a goal-object
