Podcast
Questions and Answers
What was Tommy's primary consideration when evaluating alternatives?
What was Tommy's primary consideration when evaluating alternatives?
- The speed of service
- The brand reputation
- The filling nature of the food (correct)
- The variety of options
Why did Tommy choose McDonald's over Spur?
Why did Tommy choose McDonald's over Spur?
- Because Spur had a long waiting period
- Because McDonald's offered a full meal with drink (correct)
- Because McDonald's had a better brand reputation
- Because Spur did not accept cash
What was a key factor in Tommy's vendor decision?
What was a key factor in Tommy's vendor decision?
- The price of the meal
- The payment methods accepted (correct)
- The quality of the food
- The location of the vendor
How did Tommy's hunger influence his consumer decision-making process?
How did Tommy's hunger influence his consumer decision-making process?
What benefit did Tommy derive from choosing McDonald's?
What benefit did Tommy derive from choosing McDonald's?
Why did Tommy walk to the food court?
Why did Tommy walk to the food court?
What was the amount of money Tommy had to spend on food?
What was the amount of money Tommy had to spend on food?
What comes after the purchase decision in the consumer decision-making process?
What comes after the purchase decision in the consumer decision-making process?
What is post-purchase satisfaction (or dissatisfaction) related to?
What is post-purchase satisfaction (or dissatisfaction) related to?
Why do marketers follow up with consumers after a large purchase?
Why do marketers follow up with consumers after a large purchase?
What happens when a consumer experiences frustration or dissatisfaction after buying a product?
What happens when a consumer experiences frustration or dissatisfaction after buying a product?
What is an example of post-purchase action?
What is an example of post-purchase action?
What is a common reason why consumers may not use a product after buying it?
What is a common reason why consumers may not use a product after buying it?
What can happen when a consumer buys a product that promises results that are not true?
What can happen when a consumer buys a product that promises results that are not true?
Why do marketers evaluate post-purchase behavior?
Why do marketers evaluate post-purchase behavior?
What is the goal of evaluating post-purchase satisfaction?
What is the goal of evaluating post-purchase satisfaction?
What is the primary focus of marketers in understanding consumer decision-making?
What is the primary focus of marketers in understanding consumer decision-making?
What is the main goal of marketers in understanding consumer decision-making?
What is the main goal of marketers in understanding consumer decision-making?
What is the term for the process of receiving, organizing, and assigning meaning to information or stimuli detected by the five senses?
What is the term for the process of receiving, organizing, and assigning meaning to information or stimuli detected by the five senses?
What is the difference between a need and a want?
What is the difference between a need and a want?
What is the term for a need or want that is sufficiently stimulated to move an individual to seek satisfaction?
What is the term for a need or want that is sufficiently stimulated to move an individual to seek satisfaction?
What is the stage of the decision-making process where the consumer evaluates alternative products or brands?
What is the stage of the decision-making process where the consumer evaluates alternative products or brands?
What is the stage of the decision-making process where the consumer decides which product to buy and from which dealer?
What is the stage of the decision-making process where the consumer decides which product to buy and from which dealer?
What is the term for the behavior exhibited by consumers after they have made a purchase?
What is the term for the behavior exhibited by consumers after they have made a purchase?
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Study Notes
Marketer's Responsibilities
- Monitor post-purchase satisfaction or dissatisfaction to understand consumer experiences
- Analyze post-purchase actions to determine consumer behavior after buying a product
- Identify cognitive dissonance, which occurs when consumers experience frustration or dissatisfaction after buying a product
Types of Decision Making
- Real decision making: Complex, conscious planning
- Impulse decision making: Spur of the moment, with little planning
- Habitual decision making: Brand loyalty, with little consideration of alternatives
Consumer Decision Making Process
Evaluation of Alternatives
- Appraisal of attributes and benefits: Consideration of product features and advantages
- Brand decision: Choice of brand, e.g. KFC, McDonalds, Steers
- Vendor decision: Choice of vendor, e.g. McDonalds vs. Spur
- Quantity decision: Decision on quantity of product, e.g. full meal with drink
- Time decision: Decision on timing of purchase, e.g. quickest option
- Payment method decision: Decision on payment method, e.g. cash payment
Post-Purchase Behaviour
- Monitor post-purchase behavior to understand consumer satisfaction and loyalty
- Identify other post-purchase behaviors, such as word-of-mouth marketing and repeat purchases
Influences on Consumer Decision Making
- Marketing factors: Product, price, quality, distribution, and communication
- Environmental factors: Economics, politics, culture, and technology
- Group factors: Cultural, family, social class, reference groups, and opinion leaders
- Individual factors: Motivations, perception, attitude, personality, lifestyle, and learning ability
Individual Factors Influencing Buying Decisions
- Motivation: Needs, wants, and motives that drive purchasing decisions
- Perception: The process of receiving, organizing, and assigning meaning to information or stimuli
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