28 Jun Consumer behavior and the four marketing mix components
Question
Consumer behavior and the four marketing mix components
In order to effectively manage the four marketing mix components (product, price, place[ment], and promotion) marketers must understand how consumers make decisions. This discussion topic focuses on understanding consumer behavior by applying the following characteristics to marketing mix strategy decisions:
– Levels of purchase involvement (low, middle, or high)
– Types of purchase decision-making (nominal, limited, or extended)
– The stages of the consumer decision-making process (problem recognition, information search, alternative evaluation, purchase, and post-purchase)
A visual representation of purchase involvement, types of consumer purchase decision making, and phases of the consumer decision-making process.
– Identify the level of purchase involvement for a recreational vehicle, a coat, and a Fruit Roll-Up®
– Identify the type of decision-making for a recreational vehicle, a coat, and a Fruit Roll-Up
– Explain each of the stages of the consumer decision-making process for a recreational vehicle, a coat, and a Fruit Roll-Up
– Explore how each of the four components of the marketing mix can be managed in order to create problem recognition (stage 1 of the consumer decision process) for a recreational vehicle, a coat, and a Fruit Roll-Up by the consumer
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