MKT 100 Chapter Notes - Chapter 4: Determinant, Problem Solving

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Daryl D' Souza

Document Summary

Marketing: activities, institutions, and processes for creating, communication, delivering, and exchanging offering that have value for customers, clients, partner and society at large. Consumption: activities, institutions, and processes for searching, acquiring, consuming and disposing of marketing offering that have value for marketers, consumers and society at large. Study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy need and desires. Activities, institutions, and processes for searching, acquiring, consuming and disposing. Need recognition, information search, evaluation of alternatives, purchase decisions, post purchase behaviour. If it worked in the past, it"s like to work again. Habits allow us to save time making decisions. Shopping routines are are execute more ef ciently than new behaviours. Habitual shopping provides a sense of discipline and order and control. Internet has increased returns from search effort: desired features, best quality, lowest price. That has hugely increased the ef ciency and competitiveness of markets.