Ch. 05 Consumer Behavior & Markets

Ch. 05 Consumer Behavior & Markets - Ch. 5 Consumer...

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Consumer Behavior & Markets: [How and Why People Buy] Ch. 5
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2 Chapter Objectives Define consumer behavior and explain why consumers buy what they buy Describe the prepurchase, purchase, and postpurchase activities that consumers engage in when making decisions Explain how internal factors influence consumers’ decision-making processes Show how situational factors at the time and place of purchase influence consumer behavior Explain how consumers’ relationships (social influences) with other people influence their decision-making processes Show how the Internet offers consumers opportunities to participate in consumer-to-consumer marketing
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3 Consumer Decisions Consumer behavior : The process we use to select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy needs/desires Internal, situational, and social influences shape individual purchase choice.
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4 Issues & Steps in the Consumer Decision-Making Process Extended problem-solving, limited problem solving, and habitual decision-making High vs. Low Involvement: relative importance of perceived consequences of the purchase Perceived Risk choice of product has potentially negative consequences
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5 Problem recognition Information search Alternatives evaluation Product choice Postpurchase evaluation Internal influences Situational influences Social influences Consumer Buying Process A Model of The Consumer Buying Process
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6 Consumer Decision-Making Process Step 1: Problem Recognition Occurs when consumer sees a significant difference between current state and ideal state Marketers can develop ads that stimulate problem recognition
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7 Consumer Decision-Making Process Step 2: Information Search Consumers need adequate information to make a reasonable decision Search memory and the environment for information Internet: search engines, portals, or “shopping robots” Behavioral targeting : Marketers deliver ads for products consumers look for by watching what they do on-line
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8 Consumer Decision-Making Process Step 3: Evaluation of Alternatives Consumers are interested in a small number of products, then narrow choices and compare pros/cons Evaluative criteria: product characteristics
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Ch. 05 Consumer Behavior & Markets - Ch. 5 Consumer...

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