MKT 1001 Chapter Notes - Chapter 6-10: North American Industry Classification System, Original Equipment Manufacturer, Market Segmentation

• School: St. John's University
• Department: MKT - MARKETING
• Course: MKT 1001
• Professor: Trevor Waddell

Document Summary

Consumer behavior: describes how consumers make purchase decisions and how they use and dispose of the purchased goods and services. Consumer will use the info stored in memory & obtained from outside sources. Types of consumer buying decisions and consumer involvement. Factors that determine the level of consumer involvement. Social class: group of people who are divided based off of social and economic issues. Reference groups, opinion leaders, and family are influences on social factors. Consumers ask for others opinions before purchasing. Some people buy products to become part of a group. Maslow"s hierarchy of needs: 5 categories: physiological, safety, social, esteem, and self actualized need. Business to business marketing: uses the internet in 3 ways, web sites, digital marketing, and content marketing. Trust: exists when one party has confidence in exchange partner"s reliability and integrity. The north american industry classification system (naics): detailed numbering system developed by the us, canada, Accessory equipments: less expensive and shorter lived.