BUS 343 Lecture Notes - Lecture 4: Consumer Behaviour, Representativeness Heuristic, Product Placement

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Cluny South

Document Summary

Factors influencing consumer behavior: psychological, social, cultural, personal. Social reference groups, family, life cycle, roles. Personal age, occupation, economic situation, lifestyle, personality & self concept. Maslow"s hierarchy of needs: a hierarchy of biogenic and psychogenic needs. Social experiences store as a gathering place for leisure. Sharing common interests communication of niche interest. Interpersonal attraction dry, secure environment of malls. The thrill of the chase bargaining as a sport. Approach approach conflict (2 products/2 options want both) e. g. car vs. car. Approach avoidance conflict (1 product/2 features: positive & negative) e. g. junk food/obesity. Avoidance avoidance conflict (2 products/2 options want neither) e. g. rent vs. credit debt. Perception: the process by which people select, organize and interpret information. Sensation sensory system notices stimulus > exposure. Attention devoting mental activity to a stimulus. Interpretation what we see (or think we see) Vision: marketers rely heavily on visual elements in advertising, store design and packaging.