MCS 1000 Chapter Notes - Chapter 5: Asian Americans, Psychographic, Caffeine

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Douglas Adlam

Document Summary

Problem recognition: perceiving a difference between the ideal and the actual situation big enough to trigger a decision. Information search: starts with scanning memory for previous experience (internal search). If knowledge insufficient, risk of a wrong decision is high and cost of gathering information is low, an external search will take place. Three primary sources: personal sources, public sources (ex. Alternative evaluation: develop evaluative critieria (factors you consider when making the purchase) to develop a consideration set (the group of brands under consideration) Purchase decision: simultaneous evaluation of both product attributes and seller characteristics leads to two decisions: from whom to buy, when to buy. Post purchase behaviour: comparison of expectations to actual product to conclude satisfaction/dissatisfaction. May take advantage of return policy/guarantee/toll free lines. Feeling of post purchase tension or anxiety is called cognitive dissonance. This is often relieved by customers applauding themselves for making the right choice ( don"t you love my new phone? )