Business Administration 2257 Study Guide - Quiz Guide: Decision Rule, Conjoint Analysis, Focus Group
10 Nov 2020
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Product assortment: number of different brand purchased by customers in segment (what else) is important info, share of wallet. Use: when, where, how, with what else is product used often uses that company never dreamed of. 1. 3 where cusomers buy it: customers choose several channels: need for information diminished (consumer reports, products are not novelties, shift of importance/presence from speciality retailer to discounter. 1. 4 when customers buy: time of year, month, day 2) whether buying during price rebates, sales etc, competitors in seasonal categories try to even out demand as much as possible, forcing people to buy before season peak. Consideration: being in consideration set is helpful in understanding who is willing to use product forecastic sales & formulating strategy becomes easier. Information use: important to define information sources used + process of decision making, when making rational purchasing decision, customers often use information to compare alternatives, when making emotional, holistic, automatic, spontaneous often information is not deliberately used.
