MKTG10001 Lecture Notes - Lecture 3: Switching Barriers, Deeper Understanding, Brand Loyalty
27 Jul 2018
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Note: marketing is customer-focused give value and get value back as a return. The buying behaviour of final consumers, individuals and households who buy goods and services for personal consumption. In order to influence customers we need to understand this process. Marketers job is to stop customers going through this process. Done by making them loyal and creating brand-awareness. Discrepancy between a desired state and an actual state that is sufficient to activate the decision process. Disparity between what you have now and what you need/want. Marketers job is to think about how they can create this trigger in customers" minds. Effort directed towards obtaining data or information related to the purchase under consideration. Can shorten search as we draw from own experience to make efficient decisions (e. g. ) search increases for a bottle of wine when it"s a gift, as compared to when it"s for personal use.
