MARK 451 Lecture Notes - Lecture 1: Financial Risk, Sales Promotion, Reference Group
16 Sep 2016
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Perceived utility acquired when a particular choice provides utilitarian or functional benefits for the consumer. Attributes a particular choice possesses and the benefits those attributes will provide the consumer. Perceived utility acquired from making a purchase decision that is associated with a particular reference group. Group could be friends or it could be based on demographics. Obtained when the choices stimulates feelings and emotion within the consumer. Acquired when a purchase decision is perceived to satisfy a desire for knowledge, provide novelty, or arouse curiosity. Perceived utility provided when an alternative is chosen because of temporary situational factors that will enhance one of the other consumption values. Ex: finances may be a temporary situational factor that would alter a purchase decision. Conditional values always alter the perceived importance of functional, social, emotional, or epistemic values. Weigh different alternatives available to them and benefits each alternative.
