CHAPTER Day 8 BUS 222

Copyright 2005 Prentice HallCh 1 -2 Agenda Class roll call Questions? Assignment 2 Posted – Due Feb 16 – Marketing Assignment 2.pdf Marketing Assignment 2.pdf Quiz 1 today after lecture – Open Book, open notes 60 mins – 20 M/C questions – 1 extra credit question on Super Bowl Ads worth 5 points Finish Discussion on Consumer behavior

Factors Influencing the Consumer Decision Process

Psychological Factors: Motives Courtesy Taco Bell

Psychological Factors: AttitudeAttitude Behavioral Attitude CognitiveAffective ©K Rousonelos

Psychological Factors: Perception How has society’s perception of people with tattoos changed in recent years? Ryan McVay/Getty Images

Psychological Factors: Learning and Lifestyle Learning affects both attitudes and perceptions Lifestyle involves decisions in spending time and money Royalty-Free/CORBIS

Social Factors: Family Digital Vision/Getty Images

Social Factors: Reference Groups Groups Family Friends Coworkers Famous people Provide: information rewards self-image

Social Factors: Reference Groups GEICO Commercial Photo by James Devaney/WireImage

Social Factors: Culture Royalty-FreeCORBIS C Squared Studios/Getty Images Geoff Manasse/Getty Images

Could You Go Without Tech for a Week

Situational Factors Purchase SituationShopping Situation Courtesy Murphy O’Brien Public Relations/Santa Monica, CA

Check Yourself 1. What are the types of 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 going out dancing? b. The choice of a college to attend? 3. List some of the tactics stores can use to influence consumers’ decision processes.

InvolvementInvolvement and Consumer Buying Decisions

Types of Buying Decisions Extended Problem Solving Limited Problem Solving – Impulse Buying Impulse Buying – Habitual Decision Making Habitual Decision Courtesy Wendy’s International, Inc.

Check Yourself 1. How do low versus high involvement consumers process information in an advertisement? 2. What is the difference between extended versus limited problem solving?

Quiz 1 First of Seven Quizzes – 5 M/C per chapter – Drop lowest score First four chapters – Circle the correct answer. – 60 minutes to complete this exam. – Use textbooks and your notes during this exam. – Not access the Internet or another student’s work to help you complete this exam. – Each question is worth 5 points – I extra credit question You may leave when you have completed the quiz

Return to slide 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 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 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 Evaluative criteria consist of a set of salient, or important, attributes about a particular product. Glossary

Return to slide 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 Extended problem solving occurs during a purchase decision that calls for a lot of effort and time. Glossary

Return to slide Functional needs pertain to the performance of a product or service. Glossary

Return to slide Habitual decision making describes a purchase decision process in which consumers engage little conscious effort. Glossary

Return to slide Impulse buying is a buying decision made by customers on the spot when they see the merchandise. Glossary

Return to slide Involvement is the consumer’s degree of interest in the product or service. Glossary

Return to slide Limited problem solving occurs during a purchase decision that calls for, at most, a moderate amount of effort and time. Glossary

Return to slide Psychological needs pertain to the personal gratification consumers associate with a product and/or service. Glossary

Return to slide Retrieval sets are the brands or stores that can be readily brought forth from memory. Glossary

Return to slide Ritual consumption is a pattern of behaviors tied to life events that affect what and how we consume. Glossary

Return to slide Shopping goods/services are products or services for which consumers will spend time comparing alternatives. Glossary

Return to slide Situational factors are factors specific to the situation. Glossary

Return to slide 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 Universal sets include all possible choices for a product category. Glossary