Marketing unit 2: Decision making/ problem solving

Routine Problem Solving
Frequently purchased, low cost items
Limited Problem Solving
purchasing an unfamiliar or a somewhat complex product that requires an information search before purchasing
Extensive Problem Solving
used when buying an unfamiliar or expensive product or one that requires considerable emotional or psychological investment
Decision making steps
1. Problem Recognition
2. Information Search
3. Information evolution
4. Purchase decision
5. Evaluation after purchase
Problem Recognition
consumer recognizes the problem
Information Search
need info to help you to make purchase decision
Information evolution
compare products
Purchase decision
recognized need,done some reasearch and evaluated alternatives – ready to buy
Evaluation after purchase
post purchase evaluation reasons to support the purchase
Cognitive Dissonance
Can’t make up your mind if you like it or not
Buyers remorse
Not what you wanted
Impulse buying
Little or no advice planning
Valuing time
Putting a value on time- less time shopping, cooking, & repairing things- more on recreation
Seeking Buying Convenience
the product
the store
the credit
Patronage Motives
having a favorite company that you are reliable towards
Patronage Motives examples
Location of the store
Customer services
Assortment
Treatment By Salesperson
Grouping of Stores
where consumers decide to buy
home
work
school
traveling
store
when do you buy
season
day
time of day