CONSUMER BEHAVIOR AND HOLIDAY
I- Holiday decision-making is different from the traditional problem-solving model of consumer decision-making:
1) The traditional problem-solving model of consumer decision-making:
* Behind the visible act of making a purchase lies a decision process that must be investigated. * The purchase decision process is the stages a buyer passes through in making choices about which products and services to buy.
* Five Stages of Consumer Behavior:
A. Problem Recognition: Perceiving a Need:
* Perceiving a difference between a person's ideal and actual situations big enough to trigger a decision. * Can be as simple as noticing an empty milk carton or it can be activated by marketing efforts.
B. Information Search: Seeking Value
Two steps of information search|
Internal search| External search|
* Scanning one’s memory to recall previous experiences with products or brands. * Often sufficient for frequently purchased products. * When past experience or knowledge is insufficient * The risk of making a wrong purchase decision is high * The cost of gathering information is low.| * Personal sources, such as friends and family. * Public sources, including various product-rating organizations such as Consumer Reports. * Marketer-dominated sources, such as advertising, company websites, and salespeople|
C. Alternative Evaluation: Assessing Value
* The information search clarifies the problem for the consumer by:
(1) Suggesting criteria to use for the purchase. (2) Yielding brand names that might meet the criteria. (3) Developing consumer value perception.
* A consumer's evaluative criteria represent both
* The objective attributes of a brand (such as locate speed on a portable CD player) * The subjective factors (such as...