MKT 100 Lecture 5: MKT 100 - Lecture 5

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

As a part of its initiative to reduce deforestation hawaiian breeze, a soft drink company limits the usage paper. It also invests money in campaigns against deforestation. This scenario, the company"s initiative is an example of: corporate social responsibility. What can we do once we have this knowledge: develop basic strategies to deal with those actions/behaviors, need recognition. Functional is what the person is needs. Psychological is what the person wants: information search. Internal search is based on what you already know. External search is based on what information other people tell you. Compensatory trades off one characteristic against another. Non-compensatory on basis of a subset of characteristics, regardless of other attributes. Having a something that would completely disregard the other positives characteristics. Decision heuristics mental shortcuts that help narrow down choices (price, brand, product presentation: purchase and consumption, post-purchase outcomes. Firm"s attempt to reduce dissonance by reinforcing the decision. Negative word-of-mouth & rumors can be very damaging.