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Flashcards

Lectures 3+4

aemalreg English 47 cards

Cards in this deck (47)

  1. 1After-Sales-Behavior• Customer Satisfaction
    • Cognitive Dissonance
    • Was it the right purchase decision?
    • Did I buy the right product?
  2. 2Strategies for Reducing Dissonance- Increase the attractiveness of the chosen alternatives or decrease the attractiveness of the rejected alternatives
    - Reduce or enhance the importance of specific product attributes
    - Search for confirming information
  3. 3Dissonance Consequences for Marketing (Pre‐Sales‐Phase)Offer positive signals, e.g. guarantees
  4. 4INTERNAL Effects of Satisfaction Guarantees• Focusing on customer needs
    • Analysing and improving service processes and procedures
    • Identifying and reducing failure points
    • Collecting customer feedback
    • Defining clear quality standards
  5. 5EXTERNAL Effects of Satisfaction Guarantees• Reducing the perceived risk
    • Quality signal
    • Enhance brand loyalty
    • Stimulates positive word-of-mouth
    and reduces negative word-of-mouth
    • Stimulates feedback in the case of dissatisfaction
    • Reducing dissatisfaction
  6. 6Characteristics of „Good“ Service Guarantees Unconditional
     Easy to understand
     Reasonable
     Easy claimable
     Credible
  7. 7After-Sales-Behavior• Customer Satisfaction
    • Cognitive Dissonance
    • Was it the right purchase decision?
    • Did I buy the right product?
    • After-Sales-Uncertainty
    • Stimulate a renewed information search to confirm the purchase decision
  8. 8Levels of Consumer Decision Making- Extensive Problem Solving
    - Limited Problem Solving
    - Routinized Response Behavior
  9. 9Levels of Consumer Decision Making (Extensive Problem Solving) A lot of information needed
     Must establish a set of criteria for evaluation
  10. 10Levels of Consumer Decision Making (Limited Problem Solving) Criteria for evaluation established
     Fine tuning with additional information
  11. 11Levels of Consumer Decision Making (Routinized Response Behavior) Usually make decisions based on what they already know
     Frequent, low risk purchases
  12. 12Why Decision‐Making Process?Better Understanding of Decision‐Making Process to Improve Marketing Decision Making.
  13. 13Steps in the Decision‐Making Process- Problem recognition
    - Information search
    - Evaluation of alternatives
    - Product choice
  14. 14Problem Recognition in Decision‐Making Process Occurs when consumer realizes difference between current state and ideal state
     Opportunity recognition: ideal state moves upward
     Need recognition: actual state declines
  15. 15Monetary Risk (Buyers most sensitive to risk)Risk capital consists of money and property. Those with relatively little income and wealth are most vulnerable.
  16. 16Monetary Risk (Purchases most subject to risk)High-ticket items that require substantial expenditures are most subject to monetary risk.
  17. 17Functional Risk (Buyers most sensitive to risk)Risk capital consists of alternative means of performing the function or meeting the need. Practical consumers are most sensitive.
  18. 18Functional Risk (Purchases most subject to risk)Products or services whose purchase and use requires the buyer's exclusive commitment are most sensitive.
  19. 19Physical Risk (Buyers most sensitive to risk)Risk capital consist of physical vigor, health and vitality. Those who are elderly, frail, or in ill health are most vulnerable.
  20. 20Physical Risk (Purchases most subject to risk)Mechanical or electrical goods (such as vehicles or flammables), drugs and medical treatment, and food and beverages are most sensitive.
  21. 21Social Risk (Buyers most sensitive to risk)Risk capital consists of self-esteem and self-confidence. Those who are insecure and uncertain are most sensitive.
  22. 22Social Risk (Purchases most subject to risk)Socially visible or symbolic goods, such as clothes, jewelry, cars, homes, or sports equipment are most subject to social risk.
  23. 23Psychological Risk (Buyers most sensitive to risk)Risk capital consists of affiliations and status. Those lacking self-respect or attractiveness to peers and most sensitive.
  24. 24Psychological Risk (Purchases most subject to risk)Expensive personal luxuries that may engender guilt, durable, and services whose use demands self-discipline or sacrifice are most sensitive.
  25. 25Information Search in Decision‐Making Process The process by which we survey the environment for appropriate data to make a reasonable decision
     Prepurchase or ongoing search
     Internal or external search
     Online search and cybermediaries
  26. 26Evaluation of Alternatives in Decision-Making Process- Evoked Set
    - Consideration Set
  27. 27Evaluation of Alternatives and Selection Process1. (Evaluation criteria, Importance of criteria, Alternatives consideration). ==>> 2. (Evaluation of alternatives on each criteria). ==>> 3. Decision rules applied. ==>> 4. ALTERNATIVE SELECTED
  28. 28How Consumers Make Choices (Metagoals in Decision Making)• Maximize the accuracy of the decision
    • Minimize the cognitive effort required for the decision
    • Minimize the experience of negative emotion
    • Maximize the ease of justifying the decision
  29. 29How Consumers Make Choices (Three types of consumer choice processes)1. Affective Choice
    2. Attitude‐Based Choice
    3. Attribute‐Based Choice
  30. 30How Consumers Make Choices (Affective Choice)- Affective choices tend to be more holistic. Brand not decomposed into distinct components for separate evaluation.
    - Evaluations generally focus on how they will make the user feel as they are used.
    - Choices are often based primarily on the immediate emotional response to the product or service.
  31. 31How Consumers Make Choices (Attribute‐Based Choice)Requires the knowledge of specific attributes at the time the choice is made, and it involves attribute‐by‐attribute comparisons across brands.
  32. 32How Consumers Make Choices (Attribute‐Based Choice)Involves the use of general attitudes, summary impressions, intuitions, or heuristics; no attribute‐byattribute comparisons are made at the time of choice.
  33. 33Decision Rules for Attribute‐Based Choices (How Consumers Make Choices) Conjunctive Rule
     Disjunctive Rule
     Elimination‐by‐Aspects Rule
     Lexicographic Rule
     Compensatory Rule
    Note: the first four are Non-compensatory
  34. 34Conjunctive Rule (Attribute‐Based Choices)Cross tab table of all attributes and vendors with their attribute values i.e. price, RAM, processor, HDD, etc in an example of laptop purchase. The cross tab table should have a user defined minimum/expected.
  35. 35Disjunctive Rule (Attribute‐Based Choices)Establishes a minimum required performance for each important attribute (often a high level).
    All brands that meet or exceed the performance level for any key attribute are acceptable.
  36. 36Elimination‐by‐Aspects Rule (Attribute‐Based Choices)First, evaluative criteria ranked in terms of importance
    Second, cutoff point for each
    criterion is established.
    Finally (in order of attribute
    importance) brands are eliminated if
    they fail to meet or exceed the cutoff.
  37. 37Lexicographic Decision RuleConsumer ranks the criteria in order of importance. Then selects brand that performs best on the most important attribute. If two or more brands tie, they are evaluated on the second most important attribute. This continues through the attributes until one brand outperforms the others.
  38. 38Compensatory Decision RuleThe compensatory decision rule states that the brand that rates highest on the sum of the consumer’s judgments of the relevant evaluative criteria will be chosen.
  39. 39CB Activating processes and psychological conditions§ Activation and Involvement
    § Emotion and Motivation
    § Attitudes and Satisfaction
  40. 40CB Cognitive processes§ Information processes
  41. 41CB Social processes§ Reference groups and opinion leaders
    § Values
  42. 42CB Predisposing variables§ Personality
    § Lifestyle
  43. 43Causes of Activation§ Emotional stimulation effect
    (Little-child-scheme, erotic)
    § Cognitive stimulation effect
    (mental conflicts, surprises)
    § Physical stimulation effect
    (size, color of advertisements)
  44. 44Threats of Activation=> Undesirable impacts of communication activities
    => Deflection
    => Use of over-activation stimuli
  45. 45Low involvement§ No/low level of perceived risk
    § Passive information assimilation
    § No mental analysis
    § Brand loyalty due to habits
  46. 46High involvement§ High level of perceived risk
    § Active information search
    § Active mental analysis
    § Brand loyalty due to conviction
  47. 47—

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Flashcards on Lectures 3+4, created by aemalreg on 17/02/2016.
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aemalreg
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