MKTG101 Lecture Notes - Lecture 5: Cognitive Dissonance, Individualism, Reference Group
15 Mar 2020
School
Department
Course
Professor
Document Summary
The analysis of the behaviour of individuals and households who buys goods and services for personal consumption. Generally, what a consumer expects when buying a product. The consumers rarely follow the 5-step process decision making is a lot more complex. Need/want recognition; when a buyer becomes aware of discrepancy between a desired state and the actual state. Information search; the buyer searches for information about how to solve the problem. Evaluation of options; a successful information search will usually yield a range of alternative solutions for consideration. Purchase; the brand and product are chosen. Post-purchase evaluation; the buyer continues to evaluate their purchase decision. Cognitive dissonance; occurs when a purchaser has second thoughts or doubts about the wisdom of a purchase they have made. Consumers make decisions along a continuum, from habitual decision-making behaviours at one end to extended decision-making behaviours at the other. We need to know the reasons behind decision (what, why, how, when and where)
