MNM2601 - Consumer & Business Behavior Summary notes
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Course
MNM2601 - Marketing Management
Institution
University Of South Africa (Unisa)
LEARNING OUTCOMES
After studying this unit you should be able to:
Illustrate the different types of purchase decision
Illustrate the influence of the individual factors influencing consumer
buying decisions
Illustrate the group factors influencing consumer buying decisions
Illustrate the ste...
LEARNING OUTCOMES
After studying this unit you should be able to:
Illustrate the different types of purchase decision
Illustrate the influence of the individual factors influencing consumer
buying decisions
Illustrate the group factors influencing consumer buying decisions
Illustrate the steps in the decision making process
Explain the factors influencing business buying behaviour
Types of purchase decision
When we see a need or a difference between our current state of affairs
and our desired situation, such as when we realize we are hungry or
when our car is having trouble, we begin to look for ways to rectify the
situation. This process is called the purchase decision process. It is
important to note that the decision-making process can be slow and
gradual, as is often the case when purchasing durable items or
innovations. Sometimes the decision-making process is so rapid that it
appears to an outside observer that no thought has been given to the
decision at all. Consumer decision-making depends on the type of
purchase decision made. The type of purchase decision is significantly
influenced by the degree of buyer involvement and the number of
differences between the brands. Six types of decision making are
identified:
, Complex purchase behaviour: The consumer is heavily involved in the
purchase and there are significant differences between brands. An
example would be when a consumer is considering buying a new car.
Dissonance reducing behaviour: Consumers are heavily involved in
the purchase, but hardly notice any differences between the brands.
Purchasing a new carpet would entail dissonance-reducing behavior
as consumers are highly involved but perceive few differences in the
brands available.
Habitual purchasing behaviour: buyers are not heavily involved and
do not perceive significant differences between brands. The items are
bought regularly. Consumers who buy milk don't worry whether it's
Clover or Crystal Valley
Diversity-seeking behavior: Products are bought to offer variety or to
try something different. There is usually a perceived difference
between brands.
Routine decision making: Similar to ordinary decision-making, routine
decision-making is also characterized by low buyer involvement and
few differences between brands, however, routine decision-making
involves buying the same brand over and over again. For example,
families could buy toothpaste from the same brand over and over
again.
, Impulse decision making: occurs at point of purchase allowing the
buyer to progress quickly through the decision making process and to
take action immediately. The last minute purchase of a magazine
while standing in a queue to pay is an example of impulsive decision
making.
Summary
It is vital for marketers to have a thorough understanding of their
consumers and the consumer decision-making process so that they can
tailor their product offerings and the way they present their offerings to
the market. This should be done in such a way that they address the
individual consumer directly. We've discussed the different types of
purchasing decisions consumers face.
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