MKT 100 Study Guide - Midterm Guide: Decision Rule, Customer Satisfaction, Impulse Purchase

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MKT 100 Full Course Notes
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MKT 100 Full Course Notes
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How psychological, social and situational factors influences consumer behavior. How involvement influences the consumer buying decision process. Use principles and theories from sociology, anthropology and psychology. Develop basic strategies to deal with those actions. Understand why people buy products or services. There should be a motive in marketing. This means, we want to fulfill a need or a want before we buy something. Functional needs: performance of the product. Psychological needs: kind of satisfaction or gratification we get from the product. Ex: shoes functional need is to protect from weather, or water or dirt. Whereas, heels psychological need is to feel pretty and is fashionable. Consumer have control over which products to get or not or the outcome of purchase. Ex: buying a tv from a place that provides excellent quality and reasonable price. External search: external locus of control. Consumers are more dependent on the external environment and there is no control on the outcome.

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