Study Guide for Lecture 2 - Consumer Behavior I - Consumer Buying Process

Study Guide for Lecture 2 - Consumer Behavior I - Consumer Buying Process

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Study guide for lecture 2: Consumer Behavior I Consumer Buying Process What is a consumer 0. A person 0. Unmet needs 1. Purchases things for personal consumption 2. Receives benefit from the product 1. Unique 3. No two people are alike The Consumer Buying Process 0. Purchasing is problem solving 0. This is how people make decisions 0. Because we are in a business context, we focus on problems that are solved with  purchases 1. The principles apply to other types of decisions as well 1. There are 5 stages we go through in making a purchase 2. Need recognition 3. Information search 4. Evaluate alternatives 5. Purchase 6. Postpurchase behavior Marketing 431 Study Guides © 2009 Lecture 2: Consumer Behavior I page 1
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1. Not all people go through all five steps every time 7. Effort is a function of Involvement 2. Financial, social and psychological risk 0. Expensive? 1. Serious personal consequences? 2. Reflect on your social image? 8. May drop out of the process at any time 2. High involvement 9. Extended Problem solving 3. Lots of effort 3. Medium involvement 10. Limited problem solving 4. Low involvement 11. Routine problem solving 4. Automatic purchases
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Study Guide for Lecture 2 - Consumer Behavior I - Consumer Buying Process

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