MKTG 315 Lecture Notes - Lecture 2: Brand Loyalty, Financial Risk, Externals
Document Summary
Lecture 2: chapter 12: decision making 1: need recognition and search. Evaluation of alternatives: need recognition (needs & wants) Continuum of consumer decision making: habitual limited extended. Familiar product class and brands unfamiliar product class and brands. Little thought, search, or time given to purchase extensive thought, search, and time given to purchase. The same product can be low involvement for one person and high involvement for another. Activities in the consumer decision making process: need recognition, consumers buy/ use products/ services that they believe will fulfill a. Search for information: marketplace information is all around us. Consumers can and do search for and find information on products in many ways and from different sources. Different consumers look for differing amounts and types of information. Need for external search: external sources of information, public sources (gov"t studies, product testing mags, media stories, commercial sources (ads, sales people, product pamphlets, Company websites: social sources (family, friends, experts, reviews)
