BU352 Lecture Notes - Lecture 7: Impulse Purchase, Financial Risk, Determinant
Document Summary
Lecture 7 chapter 4: describe the steps in the consumer buying decision process, need recognition, functional and psychological needs. Identify what determines how much time consumers spend searching for information before buying a product or service**ties to step 2: factors affecting search. Is it worth time and effort to search for information about product/service: locus of control. Love: attitude, personal feeling towards object or idea, affective vs. behavioral components. Learned and long lasting, but can change quick: perception, culture, tradition, and upbringing determine our perceptual view. Learning: affects attitudes and perceptions, affected by social experience, social factors, family, decision makers. Influencers: reference group, culture, shared beliefs, can be school, religion, big influence and must describe differences among countries, situational, purchase, shopping, temporal state, s, explain how involvement influences the consumer buying decision process. J: types of buying decisions, extended problem solving.
