100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary Marketing Fundamentals chapter 4 $3.22
Add to cart

Summary

Summary Marketing Fundamentals chapter 4

1 review
 536 views  4 purchases
  • Course
  • Institution

Summary of 8 pages for the course Marketing Research at HZ

Preview 2 out of 8  pages

  • January 25, 2014
  • 8
  • 2013/2014
  • Summary

1  review

review-writer-avatar

By: sebastianosemen • 8 year ago

Short and to the point

avatar-seller
Chapter 4 Buying Behavior

Black box model: input (stimuli) -> Black box -> output (consumer behavior)

Website, advertisement-> decision making process-> purchase

4.1 purchase decision process

 Five stage process
 Problem recognition: consumer experience a need, want or problem -> initiated by
marketing efforts (advertisement, websites...)-> stimuli-> manifestation of needs, wants
You want a new car because your neighbor got a new one.

 Information gathering: internal search(scan of memory, what he already knows about the
product)-> not successful-> external search ( consumer wants to know the price, availability,
differences)
1. Personal sources: getting information from family members, friends colleagues
2. Public sources: information issued by government, magazines, and product tests.
3. Commercial sources: advertisements, labels, advice, displays, websites
4. Experiential sources: own experience, handling or actually using the product



 Alternative evaluation: choice criteria-> evoked set (decision between brands) -> set them
into particular order -> identify products features or attributes-> determine importance of
each criteria in specific situation.
Consumer rarely develop a formal criteria list, ranked in order of importance
 Unterbewusst
 Marketer’s task is to determine which criteria the consumer will use in a purchase
decision



 Purchase decision: whether or not to buy-> buying intention-> situational influences
(physical, social, financial surroundings) -> if not available in this shop, go to another shop, or
consider the second choice.



 Post purchase evaluation: consumer decides whether product lifts up its expectations.

 Marketer needs to determine whether customer is satisfied or not-> call center->
consumers call for question or complains-> note down what is on consumers mind->
trying to adapt it to product

Cognitive dissonance: unpleasant feeling of doubt after purchasing a product, regret his brand choice

, 4.2 Types of orientation and buying behavior

4.2.1 Extensive problem solving
- Isn’t familiar with the product-> Consumer wants to find as much information as
possible-> high consumer involvement-> explore the whole market to meet his criteria
choice (evoked set) .> purchases a great risk-> expensive product (house, new kitchen,
car…) -> helps to express consumer’s self-image/concept

4.2.2 Limited problem solving
- Has some experience -> spending limited time on researching -> applied to frequently
purchased products -> does not have to go through all steps -> getting information
about unknown brands from friends or internet
 Marketer’s task: meet the need for information and create or enhance confidence in the
brand

4.2.3 Routine problem solving
- Experience throughout routine buying -> no longer needs to think about the purchase ->
impulse purchase-> low involvement
 Marketer’s task: to ensure that products keep the customer satisfied



4.3 Impact of personal circumstances

Influences on consumer’s buying behavior involve personal circumstances, physiological factors and
social factors.




Demographic characteristics: buying process is influenced by age, gender, race, material status,
income, education, religion, family size

Lifestyle: characterized by activities (how spend time and money), interests (what is important)
opinions (what they think of themselves and the world around) -> AIO variables

- Someone’s lifestyle influences needs and wants and buying behavior

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller stanmeuwissen. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.22. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52510 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.22  4x  sold
  • (1)
Add to cart
Added