Chapter_5_-_Consumer

Chapter_5_-_Consumer - Study Guide for Marketing 431 Summer...

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Study Guide for Marketing 431 Summer 2009 Chapter 5 – Consumer Behavior What is a consumer A person Unmet needs Purchases things for personal consumption Unique No two people are alike From last time A consumer is a customer when… Ultimate user of the product Receives benefit from the product Has the resources needed for exchange And there are a lot of them US population 300,000,000 105,000,000 households quickfacts.census.gov Study Guide for Chapter 5 – Consumer Behavior Page 1 Marketing 431, Summer 2009 © 2009
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The Consumer Buying Process Purchasing is problem solving There are 5 stages we go through in making a purchase This applies to more than just purchasing products This is the way we as human beings solve problems Decision making The Consumer Buying Process Not all people go through all five steps every time Effort is a function of Involvement Financial, social, and psychological risk Expensive? Serious personal consequences? Reflect on your social image? May drop out of the process at any time Study Guide for Chapter 5 – Consumer Behavior Page 2 Marketing 431, Summer 2009 © 2009
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High involvement Extended Problem solving Lots of effort Medium involvement Limited problem solving Low involvement Routine problem solving Automatic purchases Stimuli can be internal or external Can be sudden or gradual If you lose your cell phone, you need a new one Now Gradual needs are can be stimulated by a “trigger” Feel hungry when you walk past a bakery Odor of fresh bread is a trigger This is what impulse advertising is all about. Study Guide for Chapter 5 – Consumer Behavior Page 3 Marketing 431, Summer 2009 © 2009
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Dissatisfaction with a current product may stimulate a need Wonderful opportunity for new products Just because we feel a need doesn’t mean we’re going to make a purchase Can drop put for any number of reasons How can marketers stimulate needs? Create dissatisfaction with current products Fashion Planned obsolescence Come up with better products New and improved Provide triggers Time-sensitive advertising Point of purchase Information search This is the “awareness set” You cannot purchase something unless you are aware of its existence Study Guide for Chapter 5 – Consumer Behavior Page 4 Marketing 431, Summer 2009 © 2009
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Book calls it “evoked” set How actively we look for new alternatives depends on Perceived risk Knowledge Confidence Prior experience Level of interest Internal search Memory based External search
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