BU432 Study Guide - Comprehensive Final Exam Guide - Canada, Social Loafing, Japan
Document Summary
The study of the processes involved when individuals or groups select, purchase, use or dispose products, services, ideas or experiences to satisfy needs and desires. In a group likely to behave differently. Individual individual preferences and solely what individual wants/likes. Companies: try to manipulate factors and incorporate them into marketing strategy in a way to create positive responses to lead to profit. Consumers: consumers can benefit by having needs and wants fulfilled: consumers can cut out poor purchasing decisions, try to avoid being influences by some factors to some extent. Cb as an applied science studying different communities or segments of customers can give insight on how they use the products and how the products can be improved. Consumer research process: problem definition, what is the problem (research question), management decision problem, what management wants to know. E. g. should we introduce the new product: consumer (market) research problem, what the researcher wants to know.
