MKTG CH6 1/3

process 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

• Need Recognition

• Perceived Value

• Consumer Behavior

• Evoked Set (consideration set)

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

• Value

• Utilitarian Value

• Hedonic Value

the value a consumer expects to obtain from a purchase

• Value

• Hedonic Value

• Perceived Value

• Utilitarian Value

a value derived from a product or service that helps the consumer solve problems and accomplish tasks

• Utilitarian Value

• Perceived Value

• Hedonic Value

• Value

a value that acts as an end in itself rather than as a means to an end

• Hedonic Value

• Value

• Utilitarian Value

• Perceived Value

a five-step process used by consumers when buying goods or services

• Need Recognition

• Consumer Decision-Making Process

• Want

• Jilting Effect

result of an imbalance between actual and desired states

• Want

• Hedonic Value

• Need Recognition

• Value

recognition of an unfilled need and a product that will satisfy it

• Need Recognition

• Want

• Stimulus

• Nudge

any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing

• Routine Response Behavior

• Evoked Set (consideration set)

• Stimulus

• Cognitive Dissonance

the process of recalling information stored in the memory

• Perceived Value

• External Information Search

• Stimulus

• Internal Information Search