MKT 100 Lecture Notes - Lecture 48: Impulse Purchase, Latte, Watching Movies

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

After eva"s boyfriend started spending more time at her apartment watching movies, she recognized that her decision to subscribe to netfl ix was worth the time and money she spent on it and touted the service to her friends. This process is an example of limited problem solving, which occurs during a purchase decision that calls for, at most, a moderate amount of effort and time. Customers engage in this type of buying process when they have had some prior experience with the product or service and the perceived risk is moderate. Limited problem solving usually relies on past experience more than on external information. Knowing that some of her friends were coming over to watch casablanca, she stocked up. The popcorn and soda were an impulse purchase. Eva didn"t go through the entire decision process; instead, she recognized her need and jumped directly to purchase without spending any time searching for additional information or evaluating alternatives.