Consumer Decision Making

Consumer Decision Making - 1. Consumer behavior- processes...

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1. Consumer behavior- processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use 2. Consumer decision making process- a five step process used by consumers when buying goods or services 3. Need recognition- result of an imbalance between actual and desired stats 4. Want- the way a consumer goes about addressing a need 5. Stimulus- any unit of input affecting one or more of the five senses; sight, smell, taste, touch, hearing 6. Internal information search- the process of recalling past information stored in the memory 7. External information search- the process of seeking information in the outside environment 8. Nonmarketing controlled information source- a product information source that is not associated with advertising or promotion 9. Marketing controlled information source- a product information source that originates with marketers promoting the product 10. Evoked set/consideration set- a group of brands , resulting from an information search, from which a buyer can choose
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11. Brand extension- a well known and respected brand name from one product category is extended into other product categories 12. Cognitive dissonance- inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
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This note was uploaded on 03/23/2011 for the course MARK 3001 taught by Professor Emmelhainz during the Fall '10 term at University of Georgia Athens.

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Consumer Decision Making - 1. Consumer behavior- processes...

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