Concept Review Exam2 (4, 5, and 6)

Concept Review Exam2 (4, 5, and 6) - CONCEPT REVIEW EXAM #2...

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CONCEPT REVIEW EXAM #2 - CHAPTERS 4,5, and 6 Consumer behavior The study of how and why people acquire, consume and dispose of products. Involvement level An individual’s intensity of interest in a product and the importance of the product for that person. Consumer Buying Decision Process (3 explanations) A 5-stage purchase decision process that includes problem recognition, information search, evaluation of alternatives, purchase, and post purchase evaluation. 1. Traditional Decision Making Perspective (5 step rational method – book) Problem recognition Information search Evaluation of alternatives Purchase Post-purchase evaluation 2. Experiential Decision Making Perspective 3. Behavioral Decision Making Perspective Steps of TDMP (problem recognition, info search, evaluation of alternatives, purchase, post- purchase) Routine Behavior The process used when buying frequently purchased, low-cost items that require little search-and-decision effort Limited Problem Solving The process that buyers use when purchasing products occasionally or when they need information about an unfamiliar brand in a familiar product category Extended Problem Solving The process employed when purchasing unfamiliar, expensive, or infrequently bought products Consideration set A group of brands that the buyer views as alternatives for possible purchase Evaluative criteria Objective and subjective characteristics that are important to a buyer
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Cognitive dissonance A buyer’s doubts shortly after a purchase about whether the decision was the right one
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This note was uploaded on 10/21/2010 for the course MKT 350 taught by Professor Bunett during the Spring '10 term at Missouri State University-Springfield.

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Concept Review Exam2 (4, 5, and 6) - CONCEPT REVIEW EXAM #2...

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