Understanding the Consumer

Understanding the Consumer

1. introduction

   • 4 basic views of consumer decision-making
     • economic = rational
     • passive = irrational + impulsive
     • cognitive =/= perfect = best decision
     • emotional = impulsive + careless -> regret
   • consumer behaviour
   • continuum of consumer-buying decisions

2. steps in consumer decision-making process

   • problem recognition
   • information search
   • information evaluation
   • decision to purchase
   • post-purchase evaluation

3. influences on consumer decision-making process

   • individual influences
     • personality
     • perception
     • motivation
     • attitude
   • socio-cultural influences
     • social class
     • culture/ subculture
     • reference groups
     • family
   • situational influences
     • sociocultural
     • technological
     • economic/ competitive
     • political/ regulatory
   • marketing mix
     • price
     • product
     • place
     • promotion