Summary
summary marketing & sales 1 chapter 6,8 &10
- Course
- Institution
- Book
a summary for marketing and sales about chapter 6,8 & 10 from the book MKTG. important words are highlighted and the whole summary is in english.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Buy Official© Solutions Manual for CFIN, Besley,6e
-
SOLUTIONS MANUAL / INSTRUCTOR RESOURCE for MKTG, 12th Edition Principles of Marketing by Charles W. Lamb, Joe F. Hair and Carl McDaniel. ISBN 9781337671842. Complete Chapters 1-19.
-
summary marketing & sales 1 chapter 15
Seller
Follow
manonkooman
Reviews received
Content preview
Chapter 6. The importance of understanding consumer behaviorConsumer behavior: described how consumers make purchase decisions and how they use and
dispose of the purchased goods or services. The study of consumer behavior also includes factors
that influence purchase decisions and product use.
Value: a personal assessment of the net worth one obtains from making a purchase. So, value is
what you get minus what you give up.
Value can also mean an enduring belief shared by a society that a specific mode of conduct is
personally or socially preferable to another mode of conduct.
Purchases are made based on perceived value, which is what you expect to get.
The value received from a purchase can be broken down into 2 categories:
Utilitarian value, is derived from a product or service that helps the consumer solve
problems and accomplish tasks. It is a means to the end. Value is provided because the
purchase allows something good to happen.
Hedonic value, is an end rather than to an end. The purchase tends to give us good
feelings and satisfaction. The value is provided entirely through the experience and
emotions associated with consumption.
It can happen that a purchase gives both values.
Consumer decision making process (consumers follow this process when buying new or
expensive items):
1. Need recognition
2. Information search
3. Evaluation of alternatives
4. Purchase
5. Post purchase behavior
1 need recognition
This is the result of an imbalance between actual and desired states. This imbalance arouses the
customer's decision-making process. A want is the recognition of an unfulfilled need and a
product that will satisfy it. Wants can be viewed in terms of 4 goals: economizing, sustaining,
treating and rewarding.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller manonkooman. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.16. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79316 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now