X hits on this document

138 views

0 shares

0 downloads

0 comments

15 / 44

Marketing Exam Study!

    • The process by which people select, organize, and interpret information to form a meaningful picture of the world

    • People can form different perceptions of the same stimulus because of three perceptual processes: selective attention, selective distortion, and selective retention

        • o

          Selective attention

          • The tendency for people to screen out most of the information to which they are exposed, meaning marketers have to work especially hard to attract the customer’s attention

        • o

          Selective distortion

          • Describes tendency of people to interpret information in a way that will support what they already believe

        • o

          Selective retention

          • People tend to select and retain information that supports their beliefs

  • Learning

    • Changes in an individual’s behaviour arising from experience

  • Beliefs and Attitudes

    • A belief is a descriptive thought that a person holds about something

      • o

        May be based on real knowledge, opinion, or faith, and may or may not carry an emotional charge

    • An attitude is a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea

Consumer Buyer Decision Process Need recognition Information search Evaluation of alternatives Purchase decision Post purchase behaviour

Innovation Adopter Categorization

  • -

    Fig 6.5

  • -

    Innovators are defined as first 2.5% of buyers to adopt new idea; the early adopters are the next

    • 13.5

      %; the early majority are the next 34%; late majority is the next 34%; laggards are the last 16%

      • o

        Innovators are venture some – they try new ideas at some risk

        • o

          Early adopters are guided by respect, they’re opinion leaders in their communities adopting new ideas early but carefully

        • o

          Early majority are deliberate – although they are rarely leaders, they adopt new ideas before the average person

        • o

          Late majority are sceptical – they adopt an innovation only after majority of people have tried it

        • o

          Laggards are suspicious of changes and adopt the innovation only when it has become something of a tradition itself

Product Life Cycle

  • -

    All products will pass through the PLC

    • o

      What’s different is

- -

Development

How long it takes between stages How long it remains in each stage

  • no customers, no profits, heavy spending

Introduction – early adopter customer, no profits, high launch costs

Downloaded for free at www.uofgexamnetwork.com

15

Document info
Document views138
Page views145
Page last viewedSat Dec 03 02:36:40 UTC 2016
Pages44
Paragraphs2313
Words14476

Comments