Summary
Exam summary
- Course
- Marketing
- Institution
- University Of Cape Town (UCT)
Marketing exam summary weeks 1-12
[Show more]
Seller
Follow
Content preview
Week 3: Consumer Buying behaviourConsumer behaviour
The behaviour displayed by consumers when searching for, purchasing, using, evaluating,
and disposing of products and/or services.
The importance of consumer behaviour
• Only when the consumer is understood can it be influenced by marketing activities
• For marketers to provide value to consumers and satisfy their needs, they must
understand their behaviour and decision-making processes
Consumer decision making process
1. Needs recognition
- During this stage, the assumption is made that the consumer has an unfulfilled need
(consumer’s actual state and desired state)
- Consumers can become aware of their needs by means of several triggers
- Consumer's experience 'micro moments' (small momentary instances when they are
influenced)
- Marketers can play a role in need recognition
2. Information search
- Consumers search for information that will assist them in selecting the most suitable
option to satisfy their needs
- The information search an be derived internally or externally
Internal information derives from the consumer’s existing knowledge and experience
External information is collected from both commercial (e.g marketing messages,
company websites and sales consultants) and non-commercial sources (friends,
family, colleagues and social networks)
Social media and online reviews are an extremely influential factor within this step of
the decision-making process.
, 3. Evaluating of alternatives
- Includes consideration of the information collected during stage 2 and the evaluation of
alternatives that are available
- Do I want Vegan or Leather birks? Do I want the Boston style or another style?
4. Purchase decision
- The consumer decision making process is when the consumer makes a choice about
whether or not to purchase the product or service
- Marketers need to place emphasis on the point-of- purchase/checkout touch point
where consumers purchase their products, as consumers can still decide against at any
point in the process
5. Post-purchase behaviour
- Consumers often doubt their purchases, in particular when they have spent large sum of
money
- This process of doubt is referred to as cognitive dissonance
- Cognitive dissonance is defined as the inconsistent thoughts, beliefs or attitudes held by
consumers after making a decision or engaging in particular behaviour
- Marketers who acknowledge that consumers sometimes experience cognitive
dissonance can plan in advance to assist their customers in dealing with such feelings
Importance of consumer involvement
Involvement is simply defined as the amount of time and effort that is invested by a
consumer (potential buyer) in the search, evaluation and decision-making processes
associated with consumer behaviour.
Various factors determine a consumer’s level of involvement
1. Previous experience
2. Interest
3. Perceived risk
4. Situation
5. Social visibility
2
The benefits of buying summaries with Stuvia:
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
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Theresapoala. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R55,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now