MKTG 301 Lecture Notes - Lecture 7: Social Class, Outsourcing
12 Apr 2017
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Mktg 301 lecture 7 customers part 2. Personal: age and lifecycle stage, personality and self-concept. Reference groups: celebs or micro-celebs, friends, famil, etc. Nike: best high tech shoes designed by athletes, used by the best athletes, ex. skateboarding if nike"s shoes are good enough for janoski and made by him, they"re good enough for me, called the pyramid of influence . Purchase task: buying a pen 10 minutes before exam, ordering food in a restaurant on a first date. Social surrounding: birthday party vs. funeral. High involvement consumer buying process: ex. buying a car, 1. Low involvement consumer buying process: ex. buying milk, all the above except steps 3 and 4. More like a marriage all about relationship. Dell buys intel cpu"s because consumers buy dell laptops: demand is typically inelastic (especially short run) If the price of leather goes down, shoemakers don"t buy more leather (unless it leads to lower shoe prices and increasing consumer demand: more fluctuating demand.
