MKT 100 Lecture Notes - Lecture 13: Impulse Purchase

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Yanina Chevtchouk

Document Summary

Stores change phsyical layout to remind consumers of needs (thanksgiving- cranberries at the front) Starts first with brands that consuers already know about if it"s a repeat purchase. Time/effort put in this depends on type and cost of product and percieved risk (e. g. buying a car requires a lot of time and effort into reseraching, searching and trying different brands before coming up with a shortlist) o. Consumers can get a lot of information from different sources = more to sort through to come to a decision. Marketers influence this decision by ensuring information about their product is available through variety of sources so consumers can learn more about their brand when searching. Evaluation of alternatives: develop set of criteria on how to assess brands on their shortlist o o. Process of gathering info brings in set of features and benefits that are most valued.