MKTG-300 Chapter Notes - Chapter 5: African Americans, Brand Loyalty, Self-Actualization

• School: American University
• Department: Marketing
• Course: MKTG-300
• Professor: Susko

Document Summary

Consumer behavior: actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions. Information search (seeking value: problem recognition (perceiving a need) 2: alternative evaluation (assessing value, purchase decision (buying value, postpurchase behavior (realizing value) Characteristics of the consumer purchase decision process: number of brands examined, number of sellers considered, number of product attributes evaluated, number of external information sources used, time spent searching. Safety needs: freedom from harm, financial security. Perceived risk: represents the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences. Brand loyalty: favorable attitude toward and consistent purchase of a single brand over time. Word of mouth: influencing of people during conversations. Reference groups: are people to whom an individual looks as a basis for self-appraisal or as a source of personal standards.