Mkt exam notes 3

Collin County Community College District **We aren't endorsed by this school
MRKG 1311
May 8, 2023
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- Social aduit (five steps) - decision making process - Recognition, Identification, Determination, Specification, Evaluation - Understanding consumer behavior - Problem recognition, information search, alternative evaluation, purchase decision, post purchase behavior - Three types of problem solving - Extended problem solving - Many characteristics and considerable time spent - All five stages of consumer decision process are incorporated - Ex: building and designing a house - Limited problem solving - Some cbracteristics are considered and little time spent - May rely on a friend or acquaintance for information - Ex: buying car - Routine problem solving - Characteristic are few and little to no time spent - Generally regular everyday type purchases - Ex: buying milk - Quality and price are two levers that are gonna change the situation - Placement changes the mind (breaks buying habits) - Maslows hierarchy of needs - Associative group - you are a member of the group - Aspiration group - you wish to be a member of the group - Dissociative group - you do not want to be a member of the group and you avoid interaction with the group - Three types of markets - Organizational buyers - What is a NAICS code - Gross, disposable, and discretionary income - Iso standards (meet quality specifications required for firm) - Buying criteria and size of order - Buying situations - New buy is first time; never bought before - Straight rebuy is the same terms and conditions as new buy but just have minor tinkering with things like price - Modified rebuy is more than minor changes (major changes) - Reserve on ebay
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