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

CHAPTER 5.pdf

2 Pages
137 Views

Department
Marketing
Course Code
MKT 100
Professor
Asif Salam

This preview shows 80% of the first page. Sign up to view the full 2 pages of the document.
Description
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
More Less
Unlock Document

Only 80% of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit