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Chapter 9

Chapter 9.docx

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Ryerson University
MKT 400
Kasi Bruno

MKT400 Individual decision making Chapter 9 Consumer purchase may be a response to a perceive problem. Consumers go through series of steps to purchase: 1) Problem recognition 2) Information search 3) Evaluation of alternatives 4) Product choice Perspectives on decision making  Rational perspective is the view that people calmly and carefully integrate as much information as possible with what they already know about a product, painstakingly weigh the pluses and minuses of each alternative.  Purchase momentum occurs when these initial impulses actually increase the likelihood that we will buy even more almost as if we get revved up and plunge into a spending spree. A consumer evaluates the effort required to make a particular choice and then he or she chooses a strategy best suited to the level of effort required. Types of consumer decisions Consumer researcher have found it convenient to thin in terms of a continuum, which is anchored at one end by habitual decision making and at the other by extended problem solving. Many decisions fall somewhere in the middle and are characterized by limited problem solving. Extended problem solving  Correspond most closely to the traditional decision making perspective. It is usually initiated by a motive that is fairly central to the self-concept and the eventual decision is perceived to carry a fair degree of risk. Customer collects much information as possible both from memory (internal) and from outside (external). Each alternative is carefully evaluated. Limited problem solving  More straightforward and simple. Buyers are not as motivated to search for information or to evaluate each alternative carefully. People instead use simple decision rules to choose among alternatives. Habitual decision making  Both extended and limited problem solving modes involve some degree of information search and deliberation, varying in the degree to which activities are undertaken. Development of habitual repetitive behaviour allows consumers to minimize the time and energy spent on mundane purchase decisions. MKT400 Individual decision making Chapter 9 1. Problem recognition Problem recognition occurs whenever the consumer sees a significant difference between his or her current state of affairs and some desired or ideal state. Problem can arise two ways: need recognition or opportunity recognition. Need can be diminished by simply running out if a product by buying a product that turns out not to satisfy needs as wanted or creates new needs. Opportunity occurs when a consumer is exposed to different or better quality products which in turn can occur because the persons circumstances have somehow changed. 2. Information recognition Information search is the process in which the consumer surveys his or her environment for approp
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