Chapter 5 - Understanding consumer behavior. After reading chapter 5, you should be able to: Describe the stages in the consumer purchase decision process; distinguish among three variations of the consumer purchase decision process: routine, limited, and extended problem solving; identify major psychological influences on consumer behavior; identify the major sociocultural influences on consumer behavior. | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 5-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 5, YOU SHOULD BE ABLE TO: LO 5-1 Describe the stages in the consumer purchase decision process. Distinguish among three variations of the consumer purchase decision process: routine, limited, and extended problem solving. 5- LO 5-4 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 5, YOU SHOULD BE ABLE TO: LO 5-3 Identify major psychological influences on consumer behavior. Identify the major sociocultural influences on consumer behavior. 5- ENLIGHTENED CARMAKERS KNOW WHAT CUSTOM(H)ERS VALUE The Sense of Styling The Need for Speed The Substance of Safety The Shopping Experience 5- FIGURE 5-1 The purchase decision process consists of five stages 5- CONSUMER PURCHASE DECISION PROCESS PROBLEM RECOGNITION LO 5-1 Consumer Behavior Purchase Decision Process 5- CONSUMER | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 5-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 5, YOU SHOULD BE ABLE TO: LO 5-1 Describe the stages in the consumer purchase decision process. Distinguish among three variations of the consumer purchase decision process: routine, limited, and extended problem solving. 5- LO 5-4 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 5, YOU SHOULD BE ABLE TO: LO 5-3 Identify major psychological influences on consumer behavior. Identify the major sociocultural influences on consumer behavior. 5- ENLIGHTENED CARMAKERS KNOW WHAT CUSTOM(H)ERS VALUE The Sense of Styling The Need for Speed The Substance of Safety The Shopping Experience 5- FIGURE 5-1 The purchase decision process consists of five stages 5- CONSUMER PURCHASE DECISION PROCESS PROBLEM RECOGNITION LO 5-1 Consumer Behavior Purchase Decision Process 5- CONSUMER PURCHASE DECISION PROCESS INFORMATION SEARCH LO 5-1 Internal Search External Search Personal Sources Public Sources Marketer-Dominated Sources 5- FIGURE 5-2 Consumer Reports’ evaluation of smartphones Note: Alphabetical list (abridged) of smartphones for Verizon customers only; not in order of their Rankings 5- CONSUMER PURCHASE DECISION PROCESS ALTERNATIVE EVALUATION LO 5-1 Evaluative Criteria Consideration Set 5- CONSUMER PURCHASE DECISION PROCESS PURCHASE DECISION LO 5-1 Decide When to Buy Decide from Whom to Buy 5- CONSUMER PURCHASE DECISION PROCESS POSTPURCHASE BEHAVIOR LO 5-1 Satisfied Customers Tell 3 People Dissatisfied Customers Tell 9 People Cognitive Dissonance Customer Satisfaction Studies 5- MARKETING MATTERS How Much is a Satisfied Customer Worth? LO 5-1 = $994 5- CONSUMER PURCHASE DECISION PROCESS CONSUMER INVOLVEMENT & PROBLEM SOLVING LO 5-2 Involvement Extended Problem Solving Limited Problem Solving Routine Problem Solving 5- FIGURE 5-3 .
