Principles of Marketing Exam #2

Consists of the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions. we study this bc consumers are not rational because utility is not constant!

· Purchasing decision process

perceiving a need. this happens when there is a diff btw our ideal situation/state and our actual/current situation. whenever there is a gap; it is an need or want

seeking value, knowledge experience

assessing value, compare diff brands

Part of info search if the decision is more involving

Part of info search, ppl that you know

Part of info search, consumer reports, gov ratings/rankings, industry info

Part of info search, marketer provides the info - (retail salesperson, advertising

Factors most important to you to help compare brands, has 2 types of criteria

Wish list" type of things, none of them are necessarily a necessity. NET VALUE of a set of features

deal breaker, requirement for you; if its not there, you won't buy it

part of evaluative criteria, subset or brands we choose from

Part of evaluative criteria top-of-mind awareness, brands you thought of

buying value: 1.1. choose brand 1.2. when to buy 1.3. where to buy