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Assignment needs to make sure it relates to this week’s readings and lecture. The assignment also needs demonstrate an understanding of lesson concept and clearly present well-reasoned ideas and concepts. Consumer Decision Making Welcome class to week six of the course, we only have three weeks left to go, yeah. We have officially covered over the last five weeks the foundations of what marketing is, along with discussing in depth the elements (four P’s) of the marketing mix. This week, we are going to discover what I like to call the fifth P of the marketing mix, “people.” We are going to learn all about the consumer this week and the vital role “People,” also known as the consumers play within the wonderful world of marketing. Let’s not waste anymore time and jump right into the role of a consumer. The Importance of Understanding Consumer Behavior Consumers’ product and service preferences are constantly changing. Marketing managers must understand these desires in order to create a proper marketing mix for a well-defined market. So it is critical that marketing managers have a thorough knowledge of consumer behavior. Consumer behavior describes how consumers make purchase decisions and how they use and dispose of the purchased goods or services. Understanding how consumers make purchase decisions can help marketing managers know how to meet the demands, needs, and criterion of the consumer. The Consumer Decision Making Process When buying products, particularly new or expensive items, consumers generally follow the consumer decision-making process, a five-step process used by consumers when buying goods or services. The five steps of the consumer decision-making process are: (1) need recognition, (2) information search, (3) evaluation of alternatives, (4) purchase, and (5) post-purchase behavior. These five steps represent a general process that can be used as a guide for studying how consumers make decisions. It is important to note, though that consumers’ decisions do not always proceed in order through all of these steps. In fact, the consumer may end the process at any time or may not even make a purchase. Let’s discuss the five steps of the consumer decision-making process in greater detail. 1. Need Recognition The first stage in the consumer decision-making process is need recognition. Need recognition is the result of an imbalance between actual and desired states. The imbalance arouses and activates the consumer decision-making process. Need recognition is triggered when a consumer is exposed to either an internal or an external stimulus, which is any unit of input affecting one or more of the five senses: sight, smell, taste, touch, and hearing. Internal stimuli are occurrences you experience such as hunger or thirst. External stimuli are influences from an outside source such as someone’s recommendation of a new restaurant, the color of an automobile, the design of a package, a brand name mentioned by a friend, or a ...
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A very comprehensive review of how how eCommerce is being socialised. Building trust through teh advocacy of your peers is now essential in online retailing.
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This outline is not an in-depth user analysis by any stretch of the imagination. It is more for the product-orientated company that needs a simple wake-up call about defining their customer base. I still struggle with narrowing the focus of customers when face with the decision of where to direct their marketing efforts. This outline was created several years ago but still serves the purpose it was originally intended.
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To understand Buyer's side it's very important,I just share the part of buyer's side etc.
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Assignment needs to make sure it relates to this week’s readings a.docx
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The RSA Conference serves as a significant platform for cybersecurity experts and vendors, to explore cutting-edge innovations in the cybersecurity field. Reach out to your target audience with our RSA Conference Exhibitor List 2024!
RSA Conference Exhibitor List 2024 - Exhibitors Data
RSA Conference Exhibitor List 2024 - Exhibitors Data
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Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
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B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
priyanshujha201
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Uneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration Presentation
uneakwhite
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Monthly Social Media Update April 2024 pptx.pptx
Monthly Social Media Update April 2024 pptx.pptx
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Falcon Invoice Discounting: The best investment platform in india for investors
Falcon Invoice Discounting: The best investment platform in india for investors
Falcon Invoice Discounting
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Cracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptx
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RSA Conference Exhibitor List 2024 - Exhibitors Data
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