MGMC02H3- Midterm Exam Guide - Comprehensive Notes for the exam ( 36 pages long!)
Consumer decision making process starts when the consumer identifies a consumption problem that needs to be solved. Problem recognition = perceived difference b/w an actual & ideal state. Critical stage b/c it motivates the consumer to action. Because problem recognition stimulates many types of consumer decision making, its imp to understand what contributes to difference b/w the ideal & actual state. The ideal state: where we want to be. Can be a function of our future goals & aspirations o. Expectations & aspirations stimulated by personal motivations o culture o. Reference groups play a role b/c we want to be accepted by others. They serve as a guide to our behaviour. Major changes in personal circumstances can also instigate new ideal states o. What we want to be based on our self-image & by aspects of our own o o o o o o. Simple physical ones - malfunction or running out.