MGCR 352 Lecture Notes - Lecture 4: Product Differentiation, Marketing Mix, Psychographic

• School: McGill University
• Department: Management Core
• Course: MGCR 352
• Professor: Fabienne Cyrius

Document Summary

Consumer behavior: actions that a person takes in purchasing a product or service, including mental and social processes that precede and follow the purchase. Purchase decision process: stages a buyer passes through in making choice s about which product and service to buy marketer dominated sources) Alternative evaluation (assessing value): using evaluative criteria a brand or. Problem recognition (perceiving a need) this can be activated by ads. Info search (seeking value) internal or external search (personal, public and product is chosen. Brands that meet criteria become part of the consideration set. Evaluative criteria: factors representing objective and subjective attributes of a brand used to compare products and brands. Consideration set: group of brands considered acceptable for the consumer. Purchase decision (buying value): two choices remain where and from who (store) to buy. Post purchase behavior (value in consumption of use): after purchase consumer is either satisfier or dissatisfied depending on their expectations.