Chapter 5 - MKTG300 - FALL 2008 DR. HIEU NGUYEN CHAPTER 5:...

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MKTG300 - FALL 2008 – DR. HIEU NGUYEN CHAPTER 5: CONSUMER DECISION MAKING I. The consumer decision making process a. Need recognition: current vs. desired state; triggered by internal or external stimulus. i. Marketer’s job: help consumers recognize a need, create a want, observe trends. b. Information search: result is evoked set (different from evaluation set) i. Memory-based (internal) ii. On-line (external): 1. Marketing controlled sources 2. Non-marketing controlled sources 3. Factors affecting extent of external search: perceived risk, knowledge, prior product experience, level of interest, self-efficacy. Why does having too many choices consumer customers and can cause them to delay or cancel purchase intention? c. Evaluation of Alternatives: 3 strategies i. Pick the most important attribute and exclude alternatives that don’t have it. ii. Cut-offs iii. Rank-order attributes under consideration and evaluate alternatives based on how well each performs on most important attributes. iv. Marketer’s role: determine which attributes are most important to consumers.
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This note was uploaded on 10/15/2008 for the course MKTG 300 taught by Professor Nguyen during the Spring '08 term at CSU Long Beach.

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Chapter 5 - MKTG300 - FALL 2008 DR. HIEU NGUYEN CHAPTER 5:...

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