6-2 LEARNING OBJECTIVES LO 6-1Articulate the steps in the consumer buying process. LO 6-2Describe the difference between functional and psychological needs. LO 6-3Describe factors that affect information search. LO 6-4Discuss postpurchase outcomes. LO 6-5List the factors that affect the consumer decision process. LO 6-6Describe how involvement influences the consumer decision process.
6-7 Actual or Perceived Risk Performance risk Financial riskSocial risk Physiological risk Psychological risks
6-8 The Consumer Decision Process Evaluation of Alternatives: Attribute Sets Universal Retrieval Evoked
6-9 The Consumer Decision Process Evaluation of Alternatives: Evaluate Criteria Evaluative Criteria Determinant Attributes What are some of the features of a vacation that would be in your evaluative criteria? Digital Vision/Getty Images
check yourself 6-13 1.Name the five stages in the consumer decision process. 2.What is the difference between a need and a want? 3.Distinguish between functional and psychological needs. 4.What are the various types of perceived risk? 5.What are the differences between compensatory and noncompensatory decision rules?
6-14 Factors Influencing the Consumer Decision Process Product Price Place Promotion Marketing mix Motives Attitudes Perceptions Learning Lifestyle Psychological factors Purchase situation Shopping situation Temporal state Situational factors Family Reference groups Culture Social factors Consumer Decision Process Consumer Decision Process
6-15 Psychological Factors: Motives Courtesy Taco Bell
6-21 Situational Factors Purchase SituationShopping Situation Courtesy Murphy O’Brien Public Relations/Santa Monica, CA
check yourself 6-22 1.What are some examples of specific needs suggested by Maslow’s Hierarchy of Needs? 2.Which social factors likely have the most influence on (a) the purchase of a new outfit for a job interview and (b) the choice of a college to attend? 3.List some of the tactics stores can use to influence consumers’ decision processes.
6-23 InvolvementInvolvement and Consumer Buying Decisions High involvement Low involvement Message (e.g., Ad) Greater attention Deeper processing Greater attention Deeper processing Less attention Peripheral processing Less attention Peripheral processing Develops strong attitudes and purchase intentions Develops strong attitudes and purchase intentions Generates weak attitudes and increased use of cues Generates weak attitudes and increased use of cues
6-24 Types of Buying Decisions Extended Problem Solving Limited Problem Solving – Impulse Buying Impulse Buying – Habitual Decision Making Habitual Decision Making Courtesy Wendy’s International, Inc.
check yourself 6-25 1.How do low- versus high-involvement consumers process information in an advertisement? 2.What is the difference between extended versus limited problem solving?
Return to slide 6-26 An attitude is a person’s enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea. Glossary
Return to slide 6-27 Consumer decision rules are the set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives. Glossary
Return to slide 6-28 Determinant attributes are product or service features that are important to the buyer and on which competing brands or stores are perceived to differ. Glossary
Return to slide 6-29 Evaluative criteria consist of a set of salient, or important, attributes about a particular product. Glossary
Return to slide 6-30 A consumer’s evoked set comprises the alternative brands or stores that the consumer states he or she would consider when making a purchase decision. Glossary
Return to slide 6-31 Extended problem solving occurs during a purchase decision that calls for a lot of effort and time. Glossary
Return to slide 6-32 Functional needs pertain to the performance of a product or service. Glossary
Return to slide 6-33 Habitual decision making describes a purchase decision process in which consumers engage little conscious effort. Glossary
Return to slide 6-34 Impulse buying is a buying decision made by customers on the spot when they see the merchandise. Glossary
Return to slide 6-35 Involvement is the consumer’s degree of interest in the product or service. Glossary
Return to slide 6-36 Limited problem solving occurs during a purchase decision that calls for, at most, a moderate amount of effort and time. Glossary
Return to slide 6-37 Perception is the process by which we select, organize, and interpret information to form a meaningful picture of the world. Glossary
Return to slide 6-38 Psychological needs pertain to the personal gratification consumers associate with a product and/or service. Glossary
Return to slide 6-39 Retrieval sets are the brands or stores that can be readily brought forth from memory. Glossary
Return to slide 6-40 Ritual consumption is a pattern of behaviors tied to life events that affect what and how we consume. Glossary
Return to slide 6-41 Shopping goods/services are products or services for which consumers will spend time comparing alternatives. Glossary
Return to slide 6-42 Situational factors are factors specific to the situation. Glossary
Return to slide 6-43 Specialty goods/services are products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers. Glossary
Return to slide 6-44 Universal sets include all possible choices for a product category. Glossary