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Transcript of MKT4300_Chapter 5
The study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants
The fundamental determinant of a person's wants and behavior, acquired from family and other key institutions
Includes nationalities, religions, racial groups, and geographic regions
Relatively homogeneous and enduring divisions in a society, hierarchically ordered and with members who share similar values, interests, and behavior
Family of Orientation
Family of Procreation
Special considerations with children
The activities a person is expected to perform
A hierarchical ranking implied by a role
Age and Stage in the Life Cycle
Personality and Self-Concept
Lifestyle and Values
Family Life Cycle
Psychological Life Cycle
Critical life events and transitions
Lifestyle is a person's pattern of living in the world as expressed in activities, interests, and opinions. It portrays the "whole person" interacting with his/her environment
Model of Consumer Behavior
is driven by
is guided by
Theories of Motivation
Sources of Information
Successive Sets in Decision Making
Anchoring and adjustment
arising from physiological states of tension
such as hunger, thirst, or discomfort
arising from psychological states of tension such as
need for recognition, esteem, or belonging
a need that is aroused to a sufficient level of intensity to drive one to act
Direction: selection of one goal over another
Intensity: degree of vigor with which it is pursued
the process by which we select, organize, and
interpret information inputs to create a
meaningful picture of the world
relates to the fact that people screen out most of the stimuli to which we are exposed daily due to limited resources available for processing
the tendency to interpret information in a way that fits our preconceptions
relates to the tendency of people to retain information that supports our existing attitudes and beliefs
any change in long-term memory that results
from experience, including intentional
exposure as well as incidental exposure
Associative Memory Network
Long term memory is a set of nodes (stored information) and links (the connections between those pieces of information)
A temporary and limited repository for information, this is basically working memory.
A more permanent and virtually unlimited repository of information, this the vault.
The Consumer Decision