BUAD 307 Lecture Notes - Lecture 4: Opinion Leadership, Social Class

• School: USC
• Department: Business Administration
• Course: BUAD 307
• Professor: Yang Botao

Document Summary

Consumer problem: discrepancy between idea and actual states. Internal information = memory, thinking; external information = word of mouth, media, store visits, trial. Evoked set = group of brands, resulting from an information search, from which a buyer can choose. Compensatory = decision based on weighing values of alternatives. Non-compensatory = absolutely must meet one important criteria. Abandoned strategy = consumer finds initial criteria unrealistic and proceeds to less desirable solution. Marketing = determines which attributes are most important in influencing a consumer"s choice. Routine response behavior = little involvement in selection process, one brand. Limited decision making = low levels of involvement, low to moderate costs. Social class has a huge impact on marketing, helps determine the best distribution for products. Opinion leader = anyone can be one, people who affect other peoples opinions (movie stars, sports figures)