Buyer Behavior Exam 2 (Problem Recognition)

Flash Cards cover Marketing Buyer/Consumer Behavior concepts related to Gender, Memory, Attention, Perception, Attitudes, Decision Making, and Post Purchase

13 cards   |   Total Attempts: 188
  

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Cards In This Set

Front Back
Problem Recognition, Search, and Decision Making steps
Step 1: Problem RecognitionStep 2: Information Search
    • Consumer’s Actual State
Need Recognition: (e.g. depleted product and/or inadequate product creates new needs)
    • Consumer’s Ideal State
Opportunity Recognition: Exposure to better quality/ different products, or discontent with status quo
Internal Information Search
Internal search for brands & info → incomplete due to a) decay b) interference or c) inhibition
External Information Search
    • Sources → ads, sales personnel, websites, friends, family, consumer groups, magazine reviews, product trial, observing others
How much External Information is Searched
  • - For most purchases, limited external search, as measure by # of stores visited, # of alternatives considered, # of personal sources consulted
  • - Even for durables, 50% of consumers look at one outlet/store and 70% consider only 1 or 2 brands
Likelihood of External Search Increases With
  • - MAO
  • - Larger consideration set
  • - More information available
  • - Moderately discrepant knowledge
Compensatory Processing Models
- Multi-Attribute or EV model- Additive Difference Model
Multi-Attribute or EV Model
- Each brand is evaluated on its attributes and this is weighted by attributes importance- Weak performance offset by strong performance on another
Additive-Difference Model
    • - Rate two brands on each relevant attribute
    • - Calculate difference between the brand on each attribute
    • - Add up these differences to determine the superior brand
    • - Continue process between the winning brand and others
Noncompensatory Processing Models
- Conjunctive Model- Lexicographic Model
Conjunctive Model
- Brand “must have at least these”
    • - Set minimum cutoffs for each attribute & reject if even 1 attribute is below cutoff
    • - If necessary, use additional rule to eliminate remaining alternatives
  • Lexicographic Model
“I’ll take the one that’s best on the most important attribute”