Marketing_Module3.docx - Module 3.1 Consumer behavior...

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Module 3.1 Consumer behavior – thinking (cognition), feeling (affect), doing (behavior). Describes how consumers make purchase, use, dispose of the purchased goods and services. - Example: Soup discounts in grocery stores, if it says $0.99 per can, limit to 12, it makes people buy 12 soup cans. o (Example also, tuna cans, Harley Davidsons (loud motorcycles, vacuums (loud suckin’, window cleaner (must be color blue), Marketing Perspective – People don’t buy products, they buy solutions to problems. 5 Step Consumer Decision-Making Process 1.) Need recognition – marketing helps consumers recognize a need. However, there is a balance, see below. You can ride a bike to school OR marketing says you can drive a BMW. Example: Bling water. a. 2.) Information Search – need to access information to solve our problem. a. Once you do your research, you layout your alternatives. Example: Choosing a university 3.) Evaluation of Alternatives – now you have cut down your choices a. Consumer Decision Strategies i. Compensatory – to make up for. Good product attributes make up for negative aspects. Which has the most +’s that most outweigh the –‘s. Multi-attribute. 1. Multi-attribute – list outcomes, rate each outcome on importance. How strong that belief that each alternative can meet the outcome. Weighted total deprived by multiplying importance rating by your evaluation 2.
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3. ii. Non-compensatory – Reject choices that fail to meet 1 or more standards. Immediate rejection, conjunctive, lexicographic 1. Conjunctive rule – set minimum standards for on or more attributes.
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