5-1 Chapter Objectives LO1 Describe the steps a customer goes through when buying a product or service LO2 Discuss what determines how much time consumers.

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Presentation transcript:

5-1 Chapter Objectives LO1 Describe the steps a customer goes through when buying a product or service LO2 Discuss what determines how much time consumers will search for information before buying a product or service LO3 Discuss how psychological, social, and situational factors influence consumer buying behaviour LO4 Understand how involvement influences the consumer buying decision process LEARNING OBJECTIVES

5-2 Meet Eva Alternative Solutions: 1.Join local movie rental (e.g. Blockbuster store) 2.Subscribe to premium cable 3.Subscribe to online movie rental (e.g. Zip.ca) Problem: Getting access to the latest video releases and movies. LO1

5-3 Eva’s Questions Which alternative is more likely to attract friends over to watch movies? Which alternative gives me the best overall value? LO1

5-4 The Consumer Decision Process Information Search Alternative Evaluation Purchase Post- purchase Evaluation Need Recognition LO1

5-5 Need Recognition Information Search Alternative Evaluation Purchase Post- purchase Evaluation Need Recognition Functional needs Psychological needs LO1

5-6 Entrepreneurial Marketing 5.1: BIXI LO1