MKTG2501 Study Guide - Midterm Guide: Information Processing, Appraisal Theory, Consumer Behaviour
10 Aug 2018
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Consumer behaviour: the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires. Consumption phases (1) pre-consumption; (2); consumption; (3) post-consumption. Consumer purchase is a response to a problem: decision-making processes lead to consumer choice, choice does not necessarily mean identifying what brand of product to buy. 1st choice is whether to purchase at all: decision-making processes frequently do not involve finding a tangible product. Consumers as problem solvers: a consumer purchase is a response to a problem, four steps in the decision making process: Information search: problem recognition, evaluation of alternatives, product choice, amount of effort put into a purchase decision differs with each purchase. Information processing perspective: people will carefully integrate information about a product, weigh up pros and cons of alternatives before deciding, arrive at a satisfactory decision. Consumers do not go through an elaborate process each time they make a decision.
