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MRKT 1199 ch.4 E-Book
MRKT 1199 ch.4 E-Book
MRKT 1199 ch.4 E-Book
An external search is when the buyer looks for information beyond personal
knowledge to help make the buying decision, such as checking the Internet,
asking a friend, or visiting a showroom.
Performance risk involves the perceived danger inherent in a poorly
performing product or service.
Psychological risks are those risks associated with the way people will feel if
the product or service does not convey the right image.
Universal Sets: Include all possible choices for a product category, but
because it would be unwieldy for a person to recall all possible alternatives
for every purchase decision, marketers tend to focus on only a subset of
choices.
Retailers use the conversion rate to se how well they are doing at turning
potential buyers into actual buyers.
Postpurchase cognitive dissonance, ex. Buy a sport car with high salary,
regret buying the car when gets laid off from the job
The point in the consumer decision process at which marketers can solidify
consumer loyalty is during the post-purchase stage.
Well trained sales personnel can influence the sale at the point of purchase
by pointing out the advantages of one item over another and by encouraging
multiple purchases.
Consumers often use extended problem solving for risky purchase decisions.
In-store demonstrations. The taste and smell of new food items may attract
people to try something they normally wouldn’t. Similarly, some fashion
retailers offer “trunk shows,” during which their vendors show their whole
line on a certain day.
Customers are often enticed to purchase during “trunk sales” because they
get special assistance from the salespeople and can order merchandise that
the retailer otherwise does not carry.
Research has shown that, if used in concert with other aspects of a retailer’s
strategy, music, scent, lighting, and even color can positively influence the
decision process. Which store situation is being referred to? Store
atmosphere
The taste and smell of new food items may attract people to try something
they normally wouldn’t. Customers are often enticed to purchase that day as
well. in-store demonstrations