Management and Organizational Studies 1021A/B Chapter Notes - Chapter 10: Toothpaste, Cognitive Dissonance, Marketing Mix

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Livia Veselka

Document Summary

Ch 10 : consumer behavior part 1 (pp. Consumer behavior : the acts of individuals in obtaining goods and services, including the decision processes that precede and determine these acts. Organizations must have a firm understanding of how any why consumers make purchase decisions, so marketing strategies are planned and implemented. Who makes the buying decision and what factors play a role in making the decision. C corps = are for-profit companies that are part of a global movement to use business as a force for good; commit to social and environmental missions as well as traditional profit-making goals. Marketing mix influences: product, price, place, promotion. Problem recognition > information search > evaluation of. Problem recognition : in the consumer buying process, a stage in which a consumer discovers a need or an unfulfilled desire. Ex: the engine of a 10 year old automobile gives out / child outgrows a bicycle.