Chapter 5 - LO1 there are three types of buying decisions that customers can go through 1 Limited problem solving The type is based on a previous

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LO1) there are three types of buying decisions that customers can go through. 1) Limited problem solving- The type is based on a previous experience. A lesser amount of research needs to be done, because there is already some knowledge about the product. This also can include impulse buying, which is when there is no complete thought process; customers are just fulfilling their needs. Ex. When choosing a tanning salon, I knew what types of beds didn’t work for me from a prior salon, so when browsing the brochure of the new facility I knew that it would be a good purchase. Ex. Grocery stores purposely put candy racks at the registers, and there is a whole department devoted to maintaining it, called the impulse dept. They know that customers will see that candy, or gum, and without thinking put it on the belt to be cashed out. 2) Habitual Decision Making. - This is when a consumer purchases a product because they have already bought it before, and is remaining loyal. They enjoy this product, and do not think of other alternatives or their benefits. Ex. - Every time I go to purchase cigarette, I will go to Sav-On. I always purchase the same brand and flavor of cigarettes. I’m sure that there may be a cheaper kind, or ones with better flavor, but those are the ones that I enjoy and am comfortable with. 3) Extended problem solving- This is when a consumer is making a larger, more purposeful purchase, and needs to assess the risks , and benefits associated with the purchase. Ex.-When we got our new home, we wanted a new television. We online shopper for quite a bit. We wanted to make sure that we got the right size, resolution, and warranty. We also wanted to make sure we got a good price, and read reviews to make sure that the TV did not have a history of needed repairs, and defaults. LO2) the first step is the recognition phase. This when the consumer realizes that they reach a desired state. They are trying to fulfill their needs, and can be classified in two different ways. 1)
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This note was uploaded on 10/18/2010 for the course BM 110 taught by Professor Arthur during the Spring '08 term at Mohawk Valley Community College.

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Chapter 5 - LO1 there are three types of buying decisions that customers can go through 1 Limited problem solving The type is based on a previous

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