DM 272 1st Edition Lecture 24Outline of Last Lecture I. The Consumer Decision MakingII. ModelIII. Need/Problem RecognitionIV. Information SearchV. Pre-Purchase Evaluation of Alternative Outline of Current LectureI. Pre-Purchase Evaluation of Alternative (Cont.)II. PurchaseIII. ConsumptionCurrent LecturePre-Purchase Evaluation of Alternative (Cont.)- The categorization processo How a product is categorized can strongly influence consumer evaluation/demand- The piecemeal processo Determine the particular criteria/attributeso Make judgment about performance through evaluation strategies Compensatory Noncompensatory- Compensatory Evaluation Strategieso A perceived weakness of one attribute may be offset or compensated for by the perceived strength of another attributeThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute. Simple additive rule Weighted additive rule- Noncompensatory Evaluation Strategieso A products weakness on one attribute CANNOT be offset by its strong performance in another attribute Lexicographic strategy Elimination by aspects strategy (Disjunctive) Conjunctive strategyPurchase - Acquisition of the product that involves o Choosing a specific retailer Online, store, catalogue Which retailer?o In-store choices Q: Do you always buy the same thing or the one that you have decided onprior to going to the store?- Purchase Intention can change during the purchase stage because of: o Failure to find product o Lack of financial resourceso In-store sales promotionso Visual displayso Salespeople Consumption- The process of using the product/service purchased- Consumption can either occur immediately or be delayed- Nonconsumption occurs too! o 12% of products bought for meals are discarded- consumer usage of the acquired producto When does consumption occur?o Where does consumption occur?o How is the product consumed?o How much is consumed?- When does consumption occur?o How much time has passed between purchase and consumption?o What time of the day is the product used?o When in the year or during which season is product consumed?o Q: Why understand
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