MKTG 351 Test 2 (Babin) With
Complete Solutions
Consumer Behavior - ANSWER 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
Value - ANSWER a personal assessment of the net worth one obtains from
making a purchase, or the enduring belief that a specific mode of conduct is
personally or socially preferable to another mode of conduct
Perceived Value - ANSWER the value a consumer expects to obtain from a
purchase
Utilitarian Value - ANSWER a value derived from a product or service that helps
the consumer solve problems and accomplish tasks
Hedonic Value - ANSWER a value that acts as an end in itself rather than as a
means to an end
Consumer Decision-Making Process - ANSWER a five-step process used by
consumers when buying goods or services
Steps of the Consumer Decision-Making Process - ANSWER (1) need recognition
(2) information search
(3) evaluation of alternatives
(4) purchase
(5) postpurchase behavior
Need Recognition - ANSWER result of an imbalance between actual and desired
states
Want - ANSWER recognition of an unfulfilled need and a product that will satisfy
it
Stimulus - ANSWER - any unit of input affecting one or more of the five senses:
sight, smell, taste, touch, hearing
- Internal: you experience
- External: from outside source
Internal Information Search - ANSWER the process of recalling past information
stored in the memory
, External Information Search - ANSWER the process of seeking information in the
outside environment
Non-Marketing Controlled Information Source - ANSWER a product information
source that is not associated with advertising or promotion
Marketing Controlled Information Source - ANSWER a product information
source that originates with marketers promoting the product
Evoked (Consideration) Set - ANSWER a group of brands resulting from an
information search from which a buyer can choose
Partially Planned Purchase - ANSWER when they know the product category
they want to buy but wait until they get to the store or go online to choose a
specific style or brand
Unplanned Purchase - ANSWER when people buy on impulse
Types of Postpurchase Behavior - ANSWER - satisfaction/dissatisfaction
- cognitive dissonance
- complain
- switch
- loyalty
Cognitive Dissonance - ANSWER Inner tension that a consumer experiences
after recognizing an inconsistency between behavior and values or opinions
Types of Consumer Buying Decisions - ANSWER - routine response behavior
- limited decision making
- extensive decision making
Routine Response Behavior - ANSWER the type of decision making exhibited by
consumers buying frequently purchased, low-cost goods and services; requires
little search and decision time
Limited Decision Making - ANSWER the type of decision making that requires a
moderate amount of time for gathering information and deliberating about an
unfamiliar brand in a familiar product category
Extensive Decision Making - ANSWER the most complex type of consumer
decision making, used when buying an unfamiliar, expensive product or an
infrequently bought item; requires use of several criteria for evaluating options
and much time for seeking information
5 Factors for Consumer Buying Decisions - ANSWER (1) involvement
Complete Solutions
Consumer Behavior - ANSWER 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
Value - ANSWER a personal assessment of the net worth one obtains from
making a purchase, or the enduring belief that a specific mode of conduct is
personally or socially preferable to another mode of conduct
Perceived Value - ANSWER the value a consumer expects to obtain from a
purchase
Utilitarian Value - ANSWER a value derived from a product or service that helps
the consumer solve problems and accomplish tasks
Hedonic Value - ANSWER a value that acts as an end in itself rather than as a
means to an end
Consumer Decision-Making Process - ANSWER a five-step process used by
consumers when buying goods or services
Steps of the Consumer Decision-Making Process - ANSWER (1) need recognition
(2) information search
(3) evaluation of alternatives
(4) purchase
(5) postpurchase behavior
Need Recognition - ANSWER result of an imbalance between actual and desired
states
Want - ANSWER recognition of an unfulfilled need and a product that will satisfy
it
Stimulus - ANSWER - any unit of input affecting one or more of the five senses:
sight, smell, taste, touch, hearing
- Internal: you experience
- External: from outside source
Internal Information Search - ANSWER the process of recalling past information
stored in the memory
, External Information Search - ANSWER the process of seeking information in the
outside environment
Non-Marketing Controlled Information Source - ANSWER a product information
source that is not associated with advertising or promotion
Marketing Controlled Information Source - ANSWER a product information
source that originates with marketers promoting the product
Evoked (Consideration) Set - ANSWER a group of brands resulting from an
information search from which a buyer can choose
Partially Planned Purchase - ANSWER when they know the product category
they want to buy but wait until they get to the store or go online to choose a
specific style or brand
Unplanned Purchase - ANSWER when people buy on impulse
Types of Postpurchase Behavior - ANSWER - satisfaction/dissatisfaction
- cognitive dissonance
- complain
- switch
- loyalty
Cognitive Dissonance - ANSWER Inner tension that a consumer experiences
after recognizing an inconsistency between behavior and values or opinions
Types of Consumer Buying Decisions - ANSWER - routine response behavior
- limited decision making
- extensive decision making
Routine Response Behavior - ANSWER the type of decision making exhibited by
consumers buying frequently purchased, low-cost goods and services; requires
little search and decision time
Limited Decision Making - ANSWER the type of decision making that requires a
moderate amount of time for gathering information and deliberating about an
unfamiliar brand in a familiar product category
Extensive Decision Making - ANSWER the most complex type of consumer
decision making, used when buying an unfamiliar, expensive product or an
infrequently bought item; requires use of several criteria for evaluating options
and much time for seeking information
5 Factors for Consumer Buying Decisions - ANSWER (1) involvement
