Week Three (c)-Revisiting the Consumer Black Box.ppt -...

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Revisiting the ConsumerBlack Box
Revisiting the Consumer Black BoxThis lecture extends the consumer black box concept. Next slidebriefly describes the black box as we discussed earlier in thelecture on “Consumer Behavior.”Some authors say, that even though marketers try to understandwhat goes on in this black box, they can never understand it all.Kotler (2000) says that uncovering why people buy is anextremely difficult task. The author further says the buyer’spsyche is a ‘black box’ whose workings can be only partiallydeduced.The human mind, the only entity in nature with deep powers ofunderstanding, still remains the least understood.
Model of Buyer BehaviorMarketing andOther StimuliMarketingProductPricePlacePromotionOtherEconomicTechnologicalPoliticalBuyer’s Black BoxBuyer CharacteristicsBuyer Decision ProcessBuyer ResponsesProduct ChoiceBrand ChoicePurchase TimingPurchase AmountCan marketing managers completelyunderstand buyer’s black box?
Understanding the ConsumerBlack BoxIn this online lecture, I am going to share an interesting model

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