BUSI 2201U Lecture Notes - Lecture 6: The Delay, Fast-Moving Consumer Goods
Document Summary
Consumer behaviour: the actions that a person takes in purchasing and using products and services, including the mental and social processes that precede and follow actions. A difference between the actual and the ideal/desired one: but not all need = purchase. Information search: seeking value: internal information memory based. This search is probably enough for fast-moving consumer goods (fmcg) or consumer packaged goods (cpg) Increasing awareness: external information wom/ads/news/offical reviews. Post purchase behaviour: a satisfactory or unsatisfactory consumption or use experience is an important factor in post purchase behaviour, consumers: cognitive dissonance. The delay between purchase and consumption; lag between perception and reality; personal criteria changes, etc. Buyer seek psychological reinforcement notice others with same product/brand. Companies can mitigate money back guarantee; restaurant tactics. Consumer purchase decision process: problem solving variations. Extended problem solving: they spend a lot of time comparing different aspects such as the features of the products, prices, and warranties.
