BU352 Lecture Notes - Lecture 4: Personal Knowledge Base, Decision Theory, Group Dynamics
Document Summary
Consumer behaviour: process through which buyers make decisions, marketers draw theory from anthropology, psychology, and sociology, group behaviour, self-actualization, self-image, decision theory (values, uncertainty, choice, many influences on behaviour that interact and drive evaluations and decisions. Gore-tex creates high-quality performance outerwear, knowing that cx seek these materials, companies like north face ensure to display the material content on their clothing: psychological needs the personal gratification consumers associate with a product or service, e. g. Is it worth the time and effort to search for information about a product or service: locus of control. Joe buys a toyota because while it is a bit more expensive, it has better mileage: noncompensatory when the consumer chooses a product/service based on its characteristic(s), regardless of the values, e. g. Joe finds a nissan with less features but has a much better price and so buys it instead of the toyota.
