MKT 301 Lecture Notes - Lecture 2: Determinant, Marketing Mix, Private Label
30 Jun 2016
School
Department
Course
Professor
Document Summary
Chapter 5: consumer behavior: the consumer decision process model, need recognition, functional needs: performance, psychological needs: personal gratification, search for information. External a: actual/perceived risks: financial, performance, social, physiological (safety), psychological, alternative evaluation, universal sets (all possible choices); retrieval sets (from memory) vs. evoked sets, determinant attributes, consumer decision rules: criteria: c. i. Noncompensatory: choose based on 1 characteristic (most common: price) c. iii. Decision heuristics: mental shortcuts to narrow down choices (brand, price, presentation) Loyalty programs: undesirable consumer bx: passive customers, negative wom (treat w/ customer service, factors influencing the process, marketing mix (product, price, place, promotion, psychological factors, motives: need/want. Maslow"s hierarchy of needs: attitude: cognitive, affective, behavioral, perception: upbringing influences, learning: from experience. Elaboration likelihood model: high & low involvement of consumer process diff. aspects of ads/marketing messages (truthful vs. superficial) 99%- habitual decision making: low consumer involvement, superficial 5 steps. Complex buying bx- high consumer involvement: go through 5 decision making steps thoroughly.
