RMG 200 Chapter Notes - Chapter 3: Identifiability, Psychographic, Generation Z

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: Brent Bar

Document Summary

Buying process the steps consumers go through when buying a p/s, which begins when the customers recognize an unsatisfied need. Utilitarian needs to accomplish a specific task (ex. Hedonic needs need for an entertaining, emotional, and recreational experience. Hedonic needs to satisfy: stimulation background music, visual displays, scents, and demonstrations. Encourages consumers to take a break from their everyday lives and visit stores. Exciting graphics and photography in websites/catalogues: social experience , learning new trends , status and power , self-reward , adventure . Cross shopping pattern of buying both premium and low-priced merchandise or patronizing both expensive, status-oriented retailers and price-oriented retailers. Information search depends on the value customers feel they can gain from searching versus the cost of searching. Factors influencing the amount of information search include: the nature and use of the product being purchased, characteristics of the individual customer, aspects of the market and buying situation in which the purchase is made.