SkeletonSlide7_2010Fall_MGMT324

SkeletonSlide7_2010Fall_MGMT324 - MGMT 324 Marketing...

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MGMT 324 Marketing Management Sangwoo Shin Fall 2010 Sections 5 & 6 Sep 22, 2010
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Consumer Buying Process Needs and Wants Decision Process Problem recognition Information search Evaluation of alternatives Purchase decision Post-Decision Behavior
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Consumer Decision Process Successive sets involved in Consumer Decision Process Lenovo Apple Dell HP Toshiba NEC Sony Total Set Lenovo Apple HP Sony Awareness Set Sony Apple Consideration Set Sony Choice Total Set – Awareness Set – Consideration Set – Choice Example: Laptops Information Search Process (Where/How) Evaluation/Choice Process (What/Why)
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Evaluation/Choice Process Consumer value Consumer Surplus = Benefit Cost Consumer chooses the item from their consideration set that maximizes this surplus Attributes Product Risk Price Other Costs Consideration set = { Apple, Sony } Choose Apple if CS Apple > CS Sony
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Benefit Components Attributes Product risk Perceived Benefit (or Utility) of a product is determined by a set of attributes it possesses How good does the consumer think a product is on the relevant attributes
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SkeletonSlide7_2010Fall_MGMT324 - MGMT 324 Marketing...

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