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Lecture 7

MKT 220 Lecture 7: Chapter 7


Department
Marketing
Course Code
MKT 220
Professor
Gardner
Lecture
7

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Buying behavior- the decision processes and acts of people involved in buying and using products
Consumer buying behavior- behavior of people who purchase products for personal use, gift giving, and
household and not for business purposes
Customer opinion and attitude towards product greatly impact’s firms success
Must figure out the what, where, when, and how consumers buy
Want to figure out what satisfies buyers
How they respond to marketing strategies
Consumer Buying Decision Process
Problem Recognition
Buyer becomes aware of a difference between desired state and actual condition
May occur rapidly or slowly
Information Search
Internal search- pull from own memory on what a product is
External search- ask friends; look to the internet
Evaluation of Alternatives
Consideration/Evoked Set- a group of brands that buyer views as alternative for possible purchase
Evaluative criteria- objective and subjective characteristics that are important to the buyer
Purchase
Choosing the product of brand to be bough based on outcome of evaluation stage (pro/con list)
Availability of product and choice of seller affects final selection
Factors such as sale, price, delivery and warranties may affect the sale
Postpurchase Evaluation
Does actual product performance meet expectations?
Cognitive dissonance- a buyer doubts the purchase
Seek reassurance after purchase of expensive, high-involvement product
Influences on the Process
Situational- physical surroundings, social surroundings, time, purchase reason, mood & condition
Psychological- perception, motives, learning, attitudes, personality, lifestyle
Social- roles, family, reference groups, opinion leaders, social classes, culture, subculture
Level of involvement- intensity of interest in a product and the importance of the product to that person
Enduring involvement- high visible products with lots of complications, hold onto for a while
Ex. car, house, college
Situational involvement- doesn’t matter what type of product you buy (bread, pencils, notebooks)
Consumer Decision Making Strategies
Routinized Response
Used when buying frequently purchased, low-cost items that have little search & decision effort
Buying shampoo, bread, milk- second nature purchases
Limited Problem Solving
Used when purchasing products occasionally or when info is needed about unfamiliar brand
Clothing- actually think about buying it
Extended Problem Solving
Used when purchasing unfamiliar, expensive, or infrequently bought products
Pets, cars, phones, houses- lots of time and effort put into research
Impulse Buying (not a strategy)
Results from a powerful urge to buy something immediately
Routinized Response
Limited
Extended
Product cost
Low
Low to Moderate
High
Search Effort
Little
Little to Moderate
Extensive
Time Spent
Short
Short to Medium
Lengthy
Brand Preference
Any
Several
Varies, usually many
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