MRKT 455 Lecture Notes - Lecture 4: Social Influence, Small Talk, Photocopier
Document Summary
Why people buy the black box approach: cannot see into buyer"s mind, stimulus-response model. Internalization process is referred to as a black box. Factors influencing buyer behavior: social, roles, family influence, reference groups, culture, structure, psychological, motivation, learning, attitudes, personality, values, personal, income, gender, age, situation. What is known about the mental processes: people buy for practical (rational) and psychological (emotional) reasons, some of a person"s thoughts can be determined using specific methods, buyers consider certain factors in making purchase decisions. Wants: technically, needs are basic requirements, wants are learned, however, wants are often perceived as needs, we must determine what motivates the buyer, needs analysis, diagnose the buyer"s situation before prescribing something! Awareness of needs: buyers are not always sure of their needs, both buyer and salesperson must have a clear understanding of why purchase is being made. Economic needs best value for money: economic need, buyer"s need to purchase most satisfying product for money.
