Marketing Week 5 Chapter 6 Consumer Decision Making 1 Consumer Decision Making Process a Cultural social individual and psychological factors affect all steps i Need Recognition ii Information Search iii Evaluation of alternatives iv Purchase v Post Purchase behavior 2 Factors Determining the Level of Consumer Involvement Interest a Previous Experience b c Perceived Risk of negative consequences d Social Visibility 3 High Consumer Involvement a Product Involvement b Situational Involvement c Shopping Involvement d Enduring Involvement e Emotional Involvement 4 Marketing Implications of Involvement a Marketing is constantly changing marketing professional must change and adapt to a changing external environment 5 Social Class a Upper Classes i Capitalists ii Upper Middle Class b Middle Class c Lower Class i Middle Class ii Working Class i Working poor ii Underclass 6 Maslow s Hierarchy of Needs a Self Actualization of Needs b Esteem needs c Social needs d Safety needs e Physiological needs d Miller High life story butler with miller high life beers asks guest for champagne or bottled beer Pour beer into champagne Chapter 7 Business Marketing 1 Business to Business electronic commerce a Use of the internet to facilitate activities between organizations 2 Measuring Online Success a Stickiness Frequency Duration Site Reach b Quantcast com 3 Strategic Alliance Starbucks and United airlines 4 Producers a Original Equipment Manufacturers all individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers 5 Business Versus Consumer Markets a Derived demand organizations buy products to used in producing their customers products b Purchase Volume c Use of reciprocity d Use of Leasing 6 Types of Business Materials a Major Equipment b Accessory Equipment c Raw Materials i Unprocessed d Component Parks little processing e Processed Materials f g Buying Centers Supplies i Finished items ready for assembly or products that need very i Rules In the Buying Center Initiator Influencers Evaluators 1 2 a Technical personnel especially important a Group members who regulate the flow of information a Approve the selection of the supplier or brand 3 Gatekeepers 4 Decider 5 Purchaser a Negotiate prices 6 Users h Evaluative Criteria i Quality technical suitability ii