MARK1012 Chapter Notes - Chapter 5: Determinant, Marketing Mix
MARK1012 CHAP 5
Chapter 5: Consumer Behaviour
The 5 Step Consumer Decision Process
-Step 1 Need recognition (functional needs & psychological needs): consumers
recognise they have unsatisfied needs which they want satisfied
-Step 2 Information search (internal & external search for info)
-Factors affecting consumer search processes:
-Perceived benefits vs perceived costs of search
-The locus of control:
-Internal locus of control: consumer think they have some control over outcomes
-External locust control: consumers think fate or external factors control outcomes
-Actual or perceived risk (performance, financial, social and psychological/ safety risks)
-Step 3 Evaluation of Alternatives
-Attribute sets (universal, retrieval & evoked sets)
-Universal sets: all possible choices
-Retrieval sets: brands that are easily brought forth from memory
-Evoked sets: alternative brands
-Evaluative criteria
-Determinant attributes
-Consumer decision rules (compensatory/ non-compensatory)
-Compensatory decisions rule: assumes consumers trade off one characteristic against
another
-Non-compensatory: consumers choose products on the basis of one characteristic or
one subset of a characteristic, regardless of the values of its other attributes.
-Step 4 Purchase
-Step 5 Post- purchase: outcomes (customer satisfaction, post purchase dissonance &
customer loyalty)
Factors influencing the consumer decisions process
-Psychological factors: (motives, attitudes, perceptions, learning & lifestyle)
-Motives
-Maslow’s Hierarchy of Needs (high-level to basic):
-Self- actualisation needs
-Esteem needs
-Love needs
-Safety needs
-Physiological needs
-Attitudes (cognitive, affective & behavioural)
-Cognitive component: reflects individuals belief system
-Affective component: involves emotions/ feelings
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Document Summary
Step 1 need recognition (functional needs & psychological needs): consumers recognise they have unsatisfied needs which they want satisfied. Step 2 information search (internal & external search for info) Perceived benefits vs perceived costs of search. Internal locus of control: consumer think they have some control over outcomes. External locust control: consumers think fate or external factors control outcomes. Actual or perceived risk (performance, financial, social and psychological/ safety risks) Attribute sets (universal, retrieval & evoked sets) Retrieval sets: brands that are easily brought forth from memory. Compensatory decisions rule: assumes consumers trade off one characteristic against another. Non-compensatory: consumers choose products on the basis of one characteristic or one subset of a characteristic, regardless of the values of its other attributes. Step 5 post- purchase: outcomes (customer satisfaction, post purchase dissonance & customer loyalty) Psychological factors: (motives, attitudes, perceptions, learning & lifestyle) Maslow s hierarchy of needs (high-level to basic):
