MKT 100 Lecture Notes - Lecture 4: Socks, Decision Rule, Impulse Purchase

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Daryl D' Souza

Document Summary

Activities, institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients partners and society at large. Activities, institutions and processes for searching, acquiring, consuming and disposing of marketing offerings that have value for marketers, consumers and society at large. Study of the processes involved when individuals or groups select purchase use or dispose of products services ideas or experiences to satisfy needs and desires. Model of consumer behaviour: consumer behavior is reasoned and purposive. Buyer decision process: activities institutions and processes for searching, acquiring, consuming and disposing. Worked in the past-likely to work again. Habits allow us to save time making decisions. Shopping routines are executed more efficiently than new behaviours. Habitual shopping provides a sense of discipline order and control. Internet search has greatly increased returns from search effort: desired features, best quality, lemons, lowest price. Hugely increased the efficiency and competitiveness of markets.