2. Consumer BehaviorWC

2. Consumer BehaviorWC - Consumer Behavior Dr Keith...

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Consumer Behavior Dr. Keith Niedermeier MKTG 101
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Consumer Decision Making Making Process
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Need Recognition Need: discrepancy between actual state and ideal state Needs can be both Utilitarian and Psychological Delivering value – solving problems Marketing can influence need recognition
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Basic needs Esteem Control Belonging Meaningfulness
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Example: Need for Control
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Information Search Internal Search Consideration (Evoked) Set External search Interpersonal and WOM Influenced by Motivation
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Evaluation of Alternatives Influenced by motivation High effort vs. Low effort
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Multi-Attribute Model RCA Sony Phillips Size 7 0 2 2 Picture 4 2 2 1 Price 6 -1 2 3 Sound 2 3 0 2 A b = Σ (b i X I i ) -Rate importance of each attribute from 1 to 7: I i -Rate each attribute from –3 to +3: b i
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Multi-Attribute Model RCA Sony Phillips Size 7 0 (0) 2 (14) 2 (14) Picture 4 2 (8) 2 (8) 1 (4) Price 6 -1 (-6) 2 (12) 3 (18) Sound 2 3 (6) 0 (0) 2 (4) _________________ 8 34 40 A b = Σ (b i X I i )
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Low Effort Decision Making Automatic Resource saving
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Heuristics Choice tactics or “rules of thumb” Price Habit Normative More is better
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2. Consumer BehaviorWC - Consumer Behavior Dr Keith...

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