Session 3 - Consumer Behavior II

Session 3 - Consumer Behavior II - Consumer Behavior II...

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1 Consumer Behavior II Session 3 Intro. to Marketing Professor Greenleaf Fall 2011
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Session 3 – Consumer Behavior II 2 Today’s Agenda Consumer Decision Making Process (continued) Perceived Risk The Consumers’ Brain Neural studies of consumer behavior
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3 Perceived Risk
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Session 3 – Consumer Behavior II 4 Consumers worry Product may not give the satisfaction they had hoped Outcome < expectations Last stage of DMP Worry before purchase Termed “perceived risk”
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Session 3 – Consumer Behavior II 5 Perceived Risk Perceived risk can prevent consumers from purchasing Perceived risk is a product attribute Risk reduction is a source of consumer value Marketing strategies should reduce perceived risk
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Session 3 – Consumer Behavior II 6 Performance Risk Risk that product does not perform as expected 3D TV Restaurant Running shoes
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Session 3 – Consumer Behavior II 7 Social Risk Other people do not approve as highly as you had hoped Clothes Wine Yacht Especially people in group you belong to or aspire to
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Session 3 – Consumer Behavior II
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Session 3 – Consumer Behavior II
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Session 3 – Consumer Behavior II 10 Psychological Risk Product just isn’t “right” for me Piano Gym membership Books “War and Peace” “Brief History of Time”
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Session 3 – Consumer Behavior II 11 Financial Risk Product can hurt financial wellbeing Expensive vacation Identify theft from web purchase Adjustable rate mortgage
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This note was uploaded on 04/05/2012 for the course STERN MKTG-UB.1. taught by Professor Greenleaf during the Fall '11 term at NYU.

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Session 3 - Consumer Behavior II - Consumer Behavior II...

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