Chapter 4 - Chapter 4 I Consumers have diff levels of...

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Chapter 4 I. Consumers have diff levels of product knowledge that they use to interpret new info & make purchase decisions a. Formed by combining separate meaning concets b. Product Class(coffee) Product Form(Ground Bean) Brand(Starbucks) Model/features (12-ounce decaffeinated) II. Consumer Product Knowledge a. Knowledge about bundle of attributes or characteristics of products a.i. Need to know what atrivutes are relevant, what this means and how consumers uses said knowledge a.ii. Concrete attributes: Physical characteristics a.iii. Abstract attributes: Subjective, intangible characterisics b. Knowledge about bundle of benefits of consequences/benefits when using product b.i. Functional Consequence : Tangible outcomes of using prduct that consumers experience direcltly such as Subway sandwich satisfying hunger b.ii. Psychological Consequence: Psychological and social outcomes of produt use b.ii.1. Internal, personal outcomes such as how you feel; ex. Galaxy S4 makes you feel wealthy b.iii. Benefit Segmentation: divvy consumer to subgroups due to consequence wants b.iii.1. Perceived Risks : Concern undesirable consequences
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