Textbook Notes (369,144)
Canada (162,415)
Marketing (884)
MKT 100 (488)
Asif Salam (24)
Chapter 5


2 Pages

Course Code
MKT 100
Asif Salam

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CHAPTER 5: CONSUMER BEHAVIOUR Consumer Decision Process  Step 1: Need Recognition o Functional Needs  pertain to performace of prod/serv o Psychological Needspertain to personal gratification consumers associate w/ prod/serv  Step 2: Information Search internal search for information buyer examines own knowledge about product through past experiences external search for information buyer seeks info outside personal knowledge to make buy decision o Factors Affecting Consumers’ Search Processes  internal locus of control = more search activities  external locus of control = why bother due to fate/external factors  Actual vs. Perceived Risks:  Performance risk perceived danger inherent in poorly performing prod.  Financial risk  initial cost of purchase/cost of using item/service  Social risk fears of consumers that others may not regard their purch. positively  Physiological risk  way people feel  Psychological risk fear of actual harm should prod. Not perform properly Specialty/goods/services Shopping goods/services Convenience goods/services  Step 3: Alternative Evaluation o Compensatory consumer trades off one characteristic to another o Noncompensatory choose prod. Based on characteristics o Decision Heuristicsmental shortcut to help consumer narrow down decision (price/brand/looks)  Step 4: Purchase Decision ritual consumption  pattern of behaviors tied to life events that affect what/how people consume (tangible/intangible)  Step 5: Post Purchase o Customer Satisfacton  demonstrate correct prod. use mo
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