MKT 400 Midterm: MIDTERM REVIEW
Document Summary
Study of the process involved when individuals or groups select, purchase, use or dispose of products, services, ideas, or experiences to satisfy needs and desires. Consumers take many forms, such as an 8year old begging her mom for a barbie doll to a large corporation choosing a multimillion dollar computer system. Items consumed can include anything from canned peas to a massage, democracy to a hip hop. Needs and desires to be satisfied range from hunger to thirst to love, status etc. Consumer behaviour is an ongoing process, not what happens the moment when a consumer hands over money/credit card and in turn receives a good or service. Exchange is when 2 or more organizations or people give and receive something of value. Consumer is generally thought of a person who identifies a need or desire, makes a purchase, and then disposes the product during the 3 stages in the consumption process (pre-purchase issue, purchase issue, post-purchase issues)
