MKT 100 Lecture Notes - Lecture 5: Business Marketing, Bounded Rationality, Classical Conditioning

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Hamed Mehrabi

Document Summary

Week 5 lecture chapter 4 buyer (consumer) behavior. Higher value, perception of value and bounded rationality. Consumers may skip some of these phases for some purchase decisions. Consumer may change the order of the phases. Arises (cid:449)he(cid:374) there is a per(cid:272)ei(cid:448)ed gap (cid:271)et(cid:449)ee(cid:374) o(cid:374)e"s a(cid:272)tual state a(cid:374)d desired state. The (cid:271)uyer"s de(cid:272)isio(cid:374) a(cid:271)out (cid:449)hi(cid:272)h (cid:271)ra(cid:374)d to pur(cid:272)hase. Situational factors can come between purchase intention and purchase decision. Consumer take further action after purchase based on their satisfaction or dissatisfaction. Changes in thought process or behaviour that arise from experience. Types of l classical conditioning, operant conditioning, observation & problem solving. Enduring (slo(cid:449) to (cid:272)ha(cid:374)ge (cid:271)ut (cid:272)a(cid:374) (cid:272)ha(cid:374)ge through (cid:862)lear(cid:374)i(cid:374)g(cid:863) Family role of spouses and children and teens. Offer info. , re(cid:449)ard spe(cid:272)ifi(cid:272) pur(cid:272)hase (cid:271)eha(cid:448)iour, e(cid:374)ha(cid:374)(cid:272)e (cid:272)o(cid:374)su(cid:373)er"s self-image. Store atmosphere, salespeople, crowding, in-store demonstrations, promotions and packing. Week 5 lecture chapter 5 b2b marketing. Canadian government spends about billion buying goods & services. Provincial and local governments also make significant purchases.