Question: Consumer behavior

Answer: the process through which the ultimate buyer or household consumer makes purchase decisions

Question: Social factors

Answer: external influences such as culture, social class, reference groups, family, and opinion leaders

Question: Psychological factors

Answer: factors internal to the individual. Psychological factors include needs and motives, perceptions, attitudes, learning, and self-concept.

Question: Situational factors

Answer: are external factors related to the particular circumstances under which a purchase is made. Consider how the purchase occasion might influence a consumer’s choice of retail outlet or how much they might spend on clothing.

Question: Steps in the Consumer Decision Process

Answer: 1. Problem-opportunity Recognition

2. Information Search

3. Evaluation of Alternatives

4. Purchase Decision

5. Post-Purchase Evaluation

Question: Problem-opportunity recognition

Answer: Consumer becomes aware of a gap between an existing situation and a desired situation

Question: Information Search

Answer: Consumer conducts internal or external information search to acquire information to assist in the attainment of the desired state.

Question: Evaluation of alternatives

Answer: As a result of the information search,m consumers identify appropriate alternatives, or their evoked set, and utilize criteria to judge the options.

Question: Purchase decision

Answer: Consumers narrow choice to the top option and decide where to make the purchase.

Question: Purchase behavior

Answer: Consumers actually purchase the product