Consumer Behavior Flashcards

what are 5 steps of the traditional consumers decision making process

problem recognition, information search, alternative search, purchase decision, post purchase behavior

what is consumer behavior

the study of how individuals groups or organizations select use and dispose of products / services ideas to satisfy needs and the impact on society

what are two main consumer markets

B2C (business to consumer): products sold to end user
B2B ( business to business) products sold to organizations for further use production

how does the modern perspective differ from the traditional model 

includes emotions and unconscious processed most decisions are influenced by automatic emotional thinking 

in inside the buyers brains example what is system 1 thinking

fast automatic unconscious emotional prone to bias

in inside the buyers brains example what is system 2 thinking

slow deliberate logical effortful analytical 

what are two decisions making approaches 

habitual decision making: automatic low effort

extended problem solving: high effort research intensive 

what are the 5 steps companies should take to support consumers in there decision making 

research needs trends, provide informations access, highlights benefits and create emotional bond, simplify transactions, offer warranties service, feedback

what are the 4 main factors influencing consumer decisions

cultural and social, individual, psychological, situational

give examples cultural and social influences

culture: individualism vs collectivism
social: family reference groups opinion leaders

examples of individual influences

personality, lifestyle, values, 

what are the main psychological influences

perception, motivations, attitudes, learning, sensory marketing 

according to Maslow what are the 5 levels of needs

physiological → Safety → Belonging → Esteem → Self-actualization

what are situational influences

timer and involvement

what is sensory marketing

marketing that engages senses (sight sound touch taste smell) to influence behavior