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Department
Management and Organizational Studies
Course
Management and Organizational Studies 1021A/B
Professor
James O' Brien
Semester
Winter

Description
MOSTextbook Notes Chapter 3Consumer BehaviourConsumer Purchase Decision ProcessConsumer behaviour are the actions a person takes when purchasing and using products and servicesThe stages that a buyer passes through when making choices about which products and services to buy is the purchase decision process1 Problem Recognition Perceiving a NeedThe initial step in the purchase decision Occurs when a person realizes that the difference between what he or she has and what he or she would like to have is big enough to actually do something about it2 Information Search Seeking ValueConsumers begin to search for information about what product or service might satisfy the newly discovered need o Internal SearchScan their memory for knowledge of or previously experienced products or brands o External Searchthis is needed when one does not have much past experience of knowledge the risk of making a bad decision is high and the cost of gathering information is lowSources personal sources public sources or marketerdominated sources3 Alternative Evaluation Assessing ValueThe factors consumers consider are a consumers evaluative criteria which represent both the objective attributes of a brand and the subjective ones you use to compare different products and brandsEvoked set is the group of brands that a consumer would consider acceptable from among all the brands in the product class of which he or she is aware4 Purchase Decision Buying ValueThree choices left the chosen brand from whom to buy and when to buyUse of the internet to gather information evaluate alternatives and make buying decisions adds a technological dimension to the consumer purchase decision process5 Postpurchase Behaviour Value in Consumption or UseAfter buying a product the consumer compares it with his or her expectations and is either satisfied or dissatisfiedo Satisfied buyers tell three other people about their experienceRepeat seller o Dissatisfied buyers complain to nine peopleCognitive dissonance is the feeling of postpurchase psychological tension or anxiety
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