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MKTG 317 Jan, 2013.docx

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University of Calgary
MKTG 317
D.Lynne Ricker

MKTG Oct. 2, 2012 Consumer Decision Making: Purchasing a car: - Re-search the company that makes - What your use of the car will be - What kind of vehicle - Quality: Good on gas, no major problems or history of problems - How much it costs, compare the cost of that car @ different dealerships - Test drive it - Consider safety rating - New or used Purchasing a chocolate bar: - How much does it cost - How much fat or sugar is in it - What is more popular - Tastes better - Does it have peanuts in it Consumer Decision Making: Topics: -Consumer Decision Process Involvement: - High vs. Low - Factors: Knowledge, Experience, Risk: higher risk (financial, social) higher involvement, low knowledge/ low experience; Low risk low involvement good, more knowledge/ more experience. 5 Step Process: -Need Recognition - Internal cue: hunger or thirst, physiological -Monitor internal cue to be more receptive - External cue: things outside the body that influences us to say, “I want something.” Determined by: change in environment, lifestyle, trends, celebrity products, and advertisement -Information Search - Routine search: low involvement goods, things you buy on a regular basis. Have familiarity, and the brands. Likely to be brand loyal. You buy product x on a regular basis. E.g. beer, toothpaste, groceries. Make sure product is in stock. - Limited search, products you shop around for. Shopping goods in shopping malls. Have an idea of the product class. Market must convince consumers to buy our product. E.g. clothes, shoes, electronics, furniture, cars MKTG Oct. 2, 2012 - Extensive search: products consumers don’t buy very often, expensive. Lack knowledge; spend time to learn about product class. E.g. houses, wedding rings, wedding dress, yacht. Marketers teach about product class and then the bran
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