MKTG 1310 Study Guide - Final Guide: Marketing Plan, Servqual, Swot Analysis
28 Jun 2018
School
Department
Course
Professor
Introduction to Marketing
Exam Review
Consumer Decision Making Process
1. Problem Recognition
- short term x long term
- internal x external
- utilitarian x hedonic
2. Data Collection
- Product info, prices, retail options, warranties etc.
3. Evaluation of Alternatives
- Consideration set
- Decision criteria
4. Decision
- Buy, don’t buy, rent, lease
5. Post-purchase evaluation
- Does it alter my behaviour?
- Does it alter others’ behaviour?
Attitudes = lasting, general evaluation/beliefs about people, objects, ads and ideas
- Components of attitude – beliefs, feelings, tendency to act
Attitude Models
- Elaboration Likelihood Method – thought analysis through logical process and ranking
system
- Balance Theory – borrowing ideas of others
- Cognitive Dissonance – inconsistencies among attitudes and behaviours
- Social Judgement Theory – pre-existing attitudes as a frame of reference
Motivation = the process that cause people to behave as they do
- Types of motives
- Biogenic x psychogenic needs
- Utilitarian x hedonic motives
- Maslow Hierarchy:
- Psychological
- Safety
- Belonging
- Ego needs
- Self-actualization
- Motivational conflicts (Approach x avoidance)
- Approach vs. approach
- Avoidance vs. avoidance
- Approach vs. avoidance
Utility = the value/benefit a consumer receives form purchase/exchange of services
- Utilitarian x hedonic utility
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Consumer decision making process: problem recognition short term x long term internal x external utilitarian x hedonic, data collection. Product info, prices, retail options, warranties etc: evaluation of alternatives. Buy, don"t buy, rent, lease: post-purchase evaluation. Attitudes = lasting, general evaluation/beliefs about people, objects, ads and ideas. Components of attitude beliefs, feelings, tendency to act. Elaboration likelihood method thought analysis through logical process and ranking system. Balance theory borrowing ideas of others. Cognitive dissonance inconsistencies among attitudes and behaviours. Social judgement theory pre-existing attitudes as a frame of reference. Motivation = the process that cause people to behave as they do. Utility = the value/benefit a consumer receives form purchase/exchange of services. Segmentation = dividing a market into distinct groups of buyers. Buyer characteristics/diversity problem to be solves, lifestyle, demographics, buyer knowledge etc. Targeting = creating segments that are homogenous within and heterogeneous between.
