MKT 100 Lecture Notes - Lecture 6: Sales Promotion, Used Car, Cognitive Dissonance

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Golam Aurup

Document Summary

Cultural, social, individual, and psychological factors affect all steps: need recognition, information search, evaluation of alternatives, purchase, post-purchase behaviour. New products: hunger or thirst, advertising, sales promotion, observe trends, product performance, no longer have any. Factors affecting information search: perceived risk, knowledge, prior experience, confidence in decision-making ability. Interest: perceived risk of negative consequences, situation, social visibility. Marketing implications of involvement: low involvement products, customer may not be aware, so attractive packaging, promotions, informative displays are used, high involvement products, marketers help with information and knowledge, this helps reduce cognitive dissonance. Culture and values: culture is a set of values, norms, attitudes, and symbols; defines societies, the language spoken, clothing, food, religion are all part of a culture. Understanding cultural differences: understand the multicultural society (egg mcmuffin without meat) Subculture: group of people who share elements of overall culture and have unique elements (muslims,