MKTG 3101- Final Exam Guide - Comprehensive Notes for the exam ( 23 pages long!)
Document Summary
Cultural influences: groups with their own distinct modes of behavior can differ by ethnicity, nationality, region, and geographic distribution, successful strategies in one culture may not extend to other culture groups. People or institutions such as family, friends or celebrities: opinion leaders. Trendsetter who purchase new products before others in a group and then influence other in their purchase. The asch phenomenon: individuals conform to majority rules even thought that majority rule goes against their beliefs: online social networks, social media sites, word of mouth. Cognitive dissonance: the uncomfortable feeling or a second guessing consumers have following a purchase decision. Level of involvement: high involvement purchase decisions. Purchase decisions associated with produces that are expensive, or that pose the risk of significant emotional consequences if a mistake is made: low involvement purchase decisions. Routine purchases that pose little risk to the consumer.
