Marketing

Perception, learning, and memory

Value and needs

Attitudes

Involvement

Permanent personal characteristics (demographics, personality, life style etc.)

--> only influence over time as they are internal factors

Economic Factors: marketing instruments, consumer policy, economic policy, consumption climate, consumer confidence

Social Factors: culture, social status, family, friends --> primary group (family, friends) secondary group (neighbors etc.) and the cultural surrounding --> what will others think of the purchase (social judgement) --> companies loose control of it because of the internet (bloggers, FB etc.)

Situational Factors: Physical/social surrounding, time-related features, kind of purchase, conditions previous to the purchase e.g. ads during the week are less effective compared to weekends --> the emotions at the purchasing moment

Consumer needs to know: product's existence, the attributes and associations, purchase knowledge, consumption and usage knowledge, persuasion knowledge and the knowledge of the organization

Three distinct memory systems;

Sensory Memory, not every information is concious to the brain

Short Term memory

Long Term memory

-Emerge through external (e.g. marketing stimuli) or internal triggers (e.g. personality characteristics)

-Set off through priviation (e.g. hunger) or emergence of new possiblities (e.g. flat screen TV)

-Is perceived if difference between desired status and actual is exceeding a certain threshold value

Concept of a favorable or unfavorable evaluation, emtional feeling, and action tendencies toward some object or idea

Used to:

Forecast Consumer Behavior: Attitude shape the consumer behavior, indicator for purchasing behavior

Define Market Segments: identify groups of consumers with similar attitudes

Revisal of Marketing Strategies: Identify attitudes as indicator for behavior

Person's perceived relevance of a product, brand, ad or purchase situation based on their inheret needs, values and interests

Attitudes reflect the kind of relationship between consumers and objects, the strength of this relationship/importance for the consumer are the core of involvement

-High Involvement: important buying decisions, higher risk --> worth the consumer's time and energies to consider product alternatives carefuly e.g. financial risk (expensive) social risk (regard to reference group) and personal good (decision can cause concern or anxiety)

-Low Involvement: not as important, only limited decision process

Demographic: Age, sex, income, occupation etc. --> Use for segmetation, identification of new markets, media planning

Personality traits: consistent behavior patterns and reactions to the environment

Lifestyle: way of living defined by living style, what seems important to them (interests) and what they think about themselfs and others (opinion)