MKF1120 Lecture Notes - Lecture 4: Impulse Purchase, Retail, Market Structure
18 Jul 2018
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Initiator, influencer, decider, buyer, user, payer (b2c only) Sensing a difference between actual state and desired state. Information search: the search for information to use in decision making. Personal sources (e. g. family/friends) - legitimise or evaluate products. Evaluation of alternatives: processing the information to help make the purchase decision choice set and evaluative criteria. Purchase decision: decision and action the customer buys the most preferred brand/alternative. Post-purchase behaviour: consumers take further action based on their satisfaction or dissatisfaction. The perception of risk, whether financial, social, emotional, physical or. Low involvement purchase: a habitual or impulse purchase that required little/no effort. High involvement purchase: extended decision making that required significant effort lots of searching and comparing. Perception: motivatio(cid:374, lear(cid:374)i(cid:374)g, attitudes, perso(cid:374)ality, age groups, lifestyle. Culture: su(cid:271)(cid:272)ulture, so(cid:272)ial (cid:272)lass, group memberships, physi(cid:272)al environment, ti(cid:373)e. B2b: business to business / b2c: business to consumer. Producers/manufacturers: buy products to use in the manufacture of other products.
