Week 2: Consumer Behaviour & Market Analysis - created from Mind Map

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VAC - main aspects

Value creation

Consumer decision making process

Attitudes & perception

EFES - consumer values

Economic

Functional

Experiental

Social

NIEP - process

Need recognitoon

Information search

Evaluation & choice/purchase

Deprivation

Context

Product

Direct highlighting

Consideration set formation

Perception

Limited memory

Stimulus-based

Need = brand

Needs/goals influence notice

Selective retention

Selective distortion

Selective attention

Basic perception

Post-choice evaluation

Traditional multi-atrribute model

Compromise effect

Customer loyalty loop

CC

SBU's

Assesment CC

Underinvestment (CC)

Resources imprisoned

Bounded innovation

Access range

Important contribution

Imitation/replication

Distributed

Gold standard

Weigh belief --> choose highest score

Middle option