Kalan Lecture 8 - Kalan Lecture 8 Consumer Behavior continued A Decision are the culminations of a series of steps a Some decisions are more

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Unformatted text preview: 2/16/2011 Kalan Lecture 8 Consumer Behavior continued: A. Decision are the culminations of a series of steps. a. Some decisions are more complex than others B. Degree of the process is dependent on: a. The level of involvement-what is the relative importance of the perceived consequences to the individual? Higher risk leads to higher involvement. b. The level of perceived risk: The belief that your choice has potentially negative consequences. The lower the risk, the lower your involvement and vice versa. i. Eg. Financial consequences-think longer of which computer to buy, physical risk, social risk-buying clothing that makes you look fat. C. Consumer purchase decision making-two types-habitual and extended problem solving. a. Habitual: Decisions we make on a regular basis. b. Extended Problem Solving: i. Eg: Buying a computer, deciding which school to go to. They involve an extended amount of problem solving but still follow the same basic process. c. Limited problem solving: D. Decision making process steps( 5 steps) a. Step 1: Problem recognition: The consumer sees a difference between their current state, and where they want to be. A state of felt depravation. Eg. You are thirsty and want to solve that problem. b. Step 2: Information Search: The process of seeking out appropriate information or data to aid us in making a decision. Marketers challenge: make sure info is available where and when the customers want it. i. Eg. Friends and family, customer reviews, salesperson, the internet, journals c. Step 3: Evaluation of Alternatives: Identify a set of potential solutions. Narrowing the choices down. Evaluate the pros and cons of each. The evaluate criteria for any decision is a personal. Consumers themselves determine the criteria. Which ones have more important characteristics. The challenge for the marketer is to determine what things are evaluated by their consumers so they can target the large portion of them. d.d....
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This note was uploaded on 09/16/2011 for the course MARKETING 301 taught by Professor Yeniyurt during the Spring '08 term at Rutgers.

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Kalan Lecture 8 - Kalan Lecture 8 Consumer Behavior continued A Decision are the culminations of a series of steps a Some decisions are more

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