MKTG 2030 Chapter Notes - Chapter 5: Home Shopping, Virtual Community, West Edmonton Mall

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24 May 2012

Document Summary

The first step in building long-term relationships is understanding your customer. Marketers work to understand why and how people buy products. Consumer behavior is the process individuals or groups go through to select, purchase, and use goods and services; marketers recognize that consumer behavior is an ongoing process. Researchers have recognized two spectrums when it comes to consumer behavior: habitual decision making (buying a pop) versus extended problem solving (buying a computer) Most decisions fall somewhere in the middle, called limited problem solving. Involvement is the importance of the perceived consequences of the purchase to the person; we are more involved in purchases that we perceive as being relatively more important or pleasurable. Perceived risk may be present if the product is expensive, complex, or causes social embarrassment. For example, clothing purchases may be risky because a wrong choice may lead to negative social consequences. High involvement = buying a car; low involvement = buying a pack of gum.