MOS 1021 chapter 3

5 Pages
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Department
Management and Organizational Studies
Course Code
Management and Organizational Studies 1021A/B
Professor
James O' Brian

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Description
Chapter 3 Consumer behaviourActions a person takes when purchasing and using products and services Consumer purchase decision process the stages that a buyer passes through when making choices about which products and services to buy This process has the 5 stagesy Problem recognition Perceiving a Need occurs when a person realizes that the difference between what he or she has and what he or she would like to have is a big enough to actually do something about it In marketing advertisements or salespeople can activate a consumers decision process by showing the shortcomings of competing or currently owned productsy Information search Seeking Value after recognizing a problem consumers begin to search for information about what product or service might satisfy the newly discovered need Internal search scan their memory for knowledge of or previous experiences with products or brands External search this is especially needed when one dose not have much past experience or knowledge Primary sources of external information are personal sources public sources and marketerdominated sourcesy Alternative Evaluation Assessing Value Consider all the factors you may consider when evaluating portable MP3 players These factors are a consumers evaluative criteria which represent both the objective attributes of a brand sound quality and the subjective ones prestige you use to compare different products and brandsFirms try to identify and make the most of both types of evaluative criteria to create the best value for consumers These criteria are often emphasized in advertisementy Purchase decision Buying Value Three choices remain the chosen brand from whom to buy and when to buyy Postpurchase behaviour Value in Consumption or Use A companys sensitivity to a consumers consumption experience strongly affects the value a customer perceives after the purchase A consumer is faced with two or more highly attractive alternatives this feeling of postpurchase psychological tension or anxiety is called cognitive dissonancey Involvement and problemsolving variationsSometimes consumers dont engage in the fivestep purchase decision process Instead they level of involvementskip or minimize one or more steps depending on the
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