Study_guide_for_Lectures_2_and_3_-_Consumer_Behavior

Study_guide_for_Lectures_2_and_3_-_Consumer_Behavior -...

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Marketing 431 Study Guide Lectures 2 and 3 – Consumer behavior page 1 ©2006 Bruce Robertson Study guide for Lectures 2 and 3 - Consumer Behavior What is a consumer? A person Unmet needs Purchases things for personal consumption Unique No two people are alike From last time Ultimate user of the product Receives benefit from the product Has the resources needed for exchange Law of truly large numbers Can’t say what any individual will do Given a large enough number we can predict what a subset will do with respect to your product The Consumer Buying Process Purchasing is problem solving As human beings, we always choose the best product available Economic theory assumes rational behavior Consumers are not rational Otherwise, everybody would be using Macintosh The Consumer Buying Process There are 5 stages we go through in making a purchase This applies to more than just purchasing products This is the way we as human beings solve problems Decision making Not all people go through all five steps every time
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Marketing 431 Study Guide Lectures 2 and 3 – Consumer behavior page 2 ©2006 Bruce Robertson Effort is a function of Involvement Personal, social, and economic significance Expensive? Serious personal consequences? Reflect on your social image? May drop out of the process at any time High involvement Extended Problem solving Lots of effort Medium involvement Limited problem solving Low involvement Routine problem solving Automatic purchases Problem Recognition (Need recognition) Can be internal or external Can be sudden or gradual If you lose your cell phone, you need a new one Now Gradual needs are can be stimulated by a “trigger” Feel hungry when you walk past a bakery Odor of fresh bread is a trigger This is what impulse advertising is all about. Dissatisfaction with a current product may stimulate a need Wonderful opportunity for new products Just because we feel a need doesn’t mean we’re going to make a purchase Can drop put for any number of reasons
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Marketing 431 Study Guide Lectures 2 and 3 – Consumer behavior page 3 ©2006 Bruce Robertson How can marketers stimulate needs? Create dissatisfaction with current products Fashion Planned obsolescence Come up with better products New and improved Provide triggers Time-sensitive advertising Point of purchase Identification of alternatives The textbook calls it information search This is the “awareness set” You cannot purchase something unless you are aware of its existence How actively we look for new alternatives depends on How satisfied we are The cost of acquiring new information Search strategies Internal search Memory based External search Personal sources
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This note was uploaded on 09/24/2009 for the course CHEM 333 taught by Professor Baird during the Spring '09 term at UC Davis.

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Study_guide_for_Lectures_2_and_3_-_Consumer_Behavior -...

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