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Lecture 5

MKT 100 Lecture 5: MKT 100 - Lecture 5


Department
Marketing
Course Code
MKT 100
Professor
Fathima Saleem
Lecture
5

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1. MKT 100 – Lecture 5
As a part of its initiative to reduce deforestation Hawaiian breeze, a soft drink company limits
the usage paper. It also invests money in campaigns against deforestation. This scenario,
the company’s initiative is an example of: Corporate social responsibility.
Consumer Buying Decision (CBD) Process
CBD Process – Habitual Shopping
Why does CBD change with Habitual purchases?
CBD Process – Recreational Shopping
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CBD Process – Complex Shopping
Study of Buyer Behavior
Knowledge is power
Study of the processes involved when individuals, groups, or companies select,
purchase, use or dispose products, services, ideas or experiences to satisfy needs and
desires.
oWho consumes?
oWhat?
oWhy?
oWhere and how?
What can we do once we have this knowledge?
oDevelop basic strategies to deal with those actions/behaviors.
1. Need Recognition
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functional is what the person is needs
psychological is what the person wants
2. Information Search
internal search is based on what you already know
External search is based on what information other people tell you
Factors Affecting Search
Cost vs Benefit
oIs it worth the time and effort to search for information about the product or
service?
Locus of control
oInternal locus of control – believe they are responsible and they have full control
of the outcomes
oExternal locus of control - believe they have no control of the outcomes
meaning the outside factors have full control
Actual or Perceived Risk
oPerformance – will this product actually perform the way it should be?
oFinancial – cost of initial purchase + cost of use or maintenance
oSocial – will my friends, family, acquaintances regard my purchase positively?
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