MGM 12 - Applying the buying process More Shoes Buying...

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Marketing II Thursday, October 23, 2008 MGM 101 - Introduction to Management Functions Key questions for today: How are purchase decisions made by customers? The “product life-cycle” – how does it impact new product development activities? How do firms go about creating “brands”? Today… How do buyers make purchase decisions? Problem recognition Information seeking Evaluation of alternatives Purchase decision Buying process Buyer’s decision Post- Purchase evaluation • At the centre of the Marketing Mix (i.e. the “4 Ps”) sits the Buyer otherwise known as the “Consumer,” the “Client” or the “Customer”. • Understanding the step-by-step process that the buyer undergoes in making decisions (whether for chocolate bars or cars) around a purchase is important to the marketer… Word-of-Mouth to others Potential for Repeat Purchases Applying the buying process – More Shoes Problem recognition Information seeking Evaluation of alternatives Purchase decision Buying process
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This note was uploaded on 04/25/2010 for the course MANAGEMENT MGM 100 taught by Professor Appleyard during the Fall '10 term at University of Toronto.

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MGM 12 - Applying the buying process More Shoes Buying...

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