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Mkt Study Guide

In: Business and Management

Submitted By JJudson
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buying behavior- The decision processes and actions of people involved in buying and using products consumer buying behavior- The decision processes and purchasing activities of people who purchase products for personal or household use and not for business purposes
First, customers’ overall opinions and attitudes toward a firm’s products have a great impact on the firm’s success. Second, the marketing concept stresses that a firm should create a marketing mix that meets customers’ needs. To find out what satisfies consumers, marketers must examine the main influences on what, where, when, and how they buy. Third, by gaining a deeper understanding of the factors that affect buying behavior, marketers are better positioned to predict how consumers will respond to marketing strategies consumer buying decision process- A five-stage purchase decision process that includes problem recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation

Problem Recognition- occurs when a buyer becomes aware of a difference between a desired state and an actual condition. Can be rapid or slow. Possible to have a problem or need but be unaware until marketers point it out. Sales personnel, advertising, and packaging to help trigger recognition. Information Search- search for product info to help resolve the problem or satisfy the need. Internal search- buyers search their memories for info about products that might solve their problem. External search- information search in which buyers seek info from sources other than their own memories
Evaluation of Alternatives- Consideration set- a group of brands within a product category that a buyer views as alternatives for possible purchase Evaluative criteria- objective and subjective product characteristics that are important to a buyer Framing the alternatives- describing the...

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