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10 Cards in this Set
- Front
- Back
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Market
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Group of individuals or organizations that have needs in a product class and have the ability, willingness and authority to purchase these products
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Consumer Market
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Buyers who intend to benefit from or consume the purchased product with no intention to amke a profit
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Business Market
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Buyers who intend to buy the product not for the purpose of using, but to make a profit or achieve objectives
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Types of consumer problem solving
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Routinized response beahvior
Limited Problem Solving Extended Problem Solving Impulse Buying |
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Routinized Response Behavior
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Used for low priced, frequently bought products. Requires very little search and decision effort
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Limited Problem Solving
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Used for occasionally purchased products. Requires moderate amount of time for info gathering.
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Extended Problem Solving
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Used for unfamiliar, expensive or infrequently purchased products
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Consumer Buying Decision Process
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Problem Recognition
Information Search Evaluation of Alternatives Purchase Post Purchase Evaluation |
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Cognitive dissonance
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buyer's doubts shortly after a purchase about whether it was the right decision
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Factors Influencing the Buying Decision Process
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Demographic
Psychographic Social Situation |
