Notesale: Turn your study into money

Document Preview

Extracts from the notes are below, to see the PDF you'll receive please use the links above

---

Lecture 3
Consumer Behaviour: Study of the processes involved when individuals or groups select,
purchase, use or dispose of products, services, ideas or experiences to satisfy needs and
desires
...
Will assist in allocating & optimising
resources more effectively
Companies must position their offerings in the hearts & minds of these individuals in
a favourable way to win market share over the competition
As an input into the marketing strategy – consumer response may often be the
ultimate test of whether or not a marketing strategy will succeed

Information Search
Personal sources
-

Family, friends, neighbours
Most effective source of information

Commercial sources
-

Advertising, salespeople
Receives the most information from these sources

Public sources
-

Mass media
Consumer-rating groups
Handling the product

Experimental sources
-

Examining the product
Using the product

Decision Making Process
Need recognition  Information search  Evaluation of Alternatives  Purchase Decision
 Post Purchase Behaviour  Cognitive Dissonance
Cybermediaries: Companies that act like a middle man, e
...
comparethemarket
...
Fundamental for marketers to
understand:
-

How consumers evaluate their products
Consumers’ feelings & impressions when using/after having used the product

According to video Neuroscience is a key part
...

How Internet has changed my generation (Junco & Mastrodicasa, 2007)
YOU (College students):










Are frequently in touch with your parents (1
...
org)

Understanding the Consumer
How do they buy? 
Who is important? 
What are their choice criteria? 

Customers

Where do they buy? 
When do they buy? 
The Buying Decision Making Process (DMU)
Buyer 
User 
Initiator 

DMU

Influencer 
Decider 
Business Market: Compromises all the organisations that buy goods & services for use in
the production of other products & services that are sold, rented or sold to others
...

Marketing Structure & Demand
Contain fewer, but larger buyers  Customers are more geographically concentrated 
buyer demand is derived from final consumer demand
Organisation DMU
DMU is called the Buying Centre:







Users – Actually use the product
...
Outsiders such as consultants sometimes
perform the role
Initiators – Begin the purchase process
Buyers – Have the authority to execute the contractual agreements
Deciders
Gatekeepers – Control the flow of information to the buying centre

---