MKTG1001 Lecture Notes - Lecture 4: Abraham Maslow, Ice Cream, The Technique

• School: University of Sydney
• Department: Marketing
• Course: MKTG1001
• Professor: Jeaney

Document Summary

A consumer market: consumer buying behaviour the buying behaviour of final consumers, the consumer market - all the individuals and households who buy or acquire goods and services for personal consumption. Purchase behaviour: what the buyer buys, when, where and how much. Consumers typically follow these five steps with their purchase decisions: problem/need recognition, information search, evaluation of alternatives, purchase decision, post-purchase behaviour. Involvement: an individual"s intensity of interest in a product/the importance of the product for the person/the relevancy of the product to the individual. For high involvement decisions, it may take weeks to complete. For low involvement decisions, the process only takes moments. Involvement exists on a continuum it is not a dichotomy. Heuristics: mental shortcuts that consumers use in order to make consumer decisions a form of bias. The start of the process the consumer recognizes that a product is needed i. e. i"m hungry or the house needs painting .