Customer Behavior

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MKTG 221
Fred Hurvitz

Customer BehaviorWednesday September 10 2014136 PMConsumersAll individuals and households who buy andor acquire goods and services primarily for personal nonbusiness useTo understand the consumer market we must understand how consumers process information Information includesIndividual factors1Situational factors2Social influences3Black Box TheoryTo understand consumer behavior we must understand the consumers mental 1processes Mental ProcessBuying Response OutcomeChoiceBuyNot BuyPostponeBlack Box Theory ContinuedoIt is virtually impossible to predict how an individual customer may make their buying decisionsoHowever we can develop strategies that appeal and cater to tendencies of substantial numbers of potential customersImportant determinants in studying consumer behavioroDecision processTypes of consumer decisionsRoutine response behaviorLimited problem solvingExtensive problem solvingJust because a consumer begins the process does not guarantee that the process will end with a purchaseAs consumers go through the process they learn this experience tends to influence future decisionsDue to difference in individual characteristics social influences situational factors every consumer goes through the process differentlyThe time required at each stage of the process can vary from buyer to buyer and product offering to product offering Not all buying decisions are similar can differ as a result of buyers past experiences as well as the degree of importance they associate with the type of purchase consideredProblem recognitionsearch for infoalternativeevaluation of alternativespurchase decisionpost purchase behaviorProblem RecognitionThe consumer recognizes a difference between what they have and what they desire to have
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