MKTG_1033_-_Cons_Beh_WEEK_1_MODULE.pdf - LEARNING MODULE...

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MKTG 1033Consumer Behavior| 1LEARNING MODULEMKTG 1033 – (Consumer Behavior)AY 2020-2021Lesson 1: Introduction to Consumer BehaviorTopic:Consumer Buying Behavior DefinedLearning Outcomes:At the end of this module, you are expected to:1.Define consumer buying behavior2.Outline the steps of the standard behavioral model3.Enumerate the four types of buying behaviors4.List and describe the three factors that affect consumer behavior5.Identify three consumer behavior models6.Discuss the importance of understanding consumer behavior in marketing.LEARNING CONTENTIntroduction:Almost every business wants to know how consumers tick. In this lesson, you'll learn about consumer buyingbehavior, including the standard model.The lesson also addresses consumer behavior in marketing. Consumer behavior is explained and the waycompanies learn about consumer behavior is discussed. The way that marketing benefits from understandingconsumer behavior is examined.
MKTG 1033Consumer Behavior| 2Lesson Proper:Consumer Buying Behavior DefinedStandard Behavioral ModelThe standard model of consumer behavior consists of a methodical and structured process. Let's take a brieflook at each step.Consumer Decision Making ProcessA.Problem recognition- The first step is problem recognition. During this step, the consumer realizes thatshe has an unfulfilled need or want. Let's use the example of a consumer who has just been informed byher mechanic that fixing her car will cost more than it's worth. Our consumer realizes that she now has atransportation problem and wants to fulfill that need with the purchase of a car.B.Information search- The next step is to gather information relevant to what you need to solve theproblem. In our example, our consumer may engage in research on the Internet to determine the typesof vehicles available and their respective features.C.Evaluation- After information is gathered, it is evaluated against a consumer's needs, wants,preferences, and financial resources available for purchase. In our example, our consumer has decidedto narrow her choices down to three cars based upon price, comfort, and fuel efficiency.D.Purchase- At this stage, the consumer will make a purchasing decision. The ultimate decision may bebased on factors such as price or availability. For example, our consumer has decided to purchase aparticular model of car because its price was the best she could negotiate and the car was availableimmediately.E.Post-purchase evaluation- At this stage, the consumer will decide whether the purchase actuallysatisfies her needs and wants. Is our car purchaser happy with her purchase? If she is not satisfied, whyisn't she? This step is crucial for repeat sales, a happy customer will buy again.

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Term
Fall
Professor
N/A
Tags
Marketing, Decision Making, a Psychological factors

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