Week 4 – Chapter 5 Review and Application: 4.1, 4.2, 6.1, 8.1

4.1) The three types of consumer buying decisions are routine, limited and extensive. Routine decisions are made for products/services that are purchased frequently, are low-cost and are readily available. Brand loyalty often is the main factor in these decisions. Routine products/services could include the following: toilet paper, soda pop, a convenience store, and fast food restaurants. Limited decisions are made for products/services that are not bought as frequently and are more moderately priced. The consumer may still be familiar with the product/service but not necessarily the current brands or options available. Limited products/services could include the following: small electronics (zip drive, alarm clock), and clothing/shoes. Extensive decisions are made for products/services that are not frequently purchased, are expensive, and that the consumer has limited knowledge. Extensive products/services could include automobiles, large electronics (TVs, home appliances) and furniture. Many generalizations can be made about each of the three categories. However, it is important to be mindful of other factors that influence consumer buying trends: culture and values, subcultures and social class. These factors directly affect how products/services are marketed and to which targeted group.

4.2) Computer purchases could fall into the Limited and the Extensive decision making categories depending on the consumer. There is such a wide range of consumer technical ability and knowledge. Many people would find it an easy, non-time consuming process; spending the majority of their decision making time simply finding the best deal on the product that they know they want and that they have purchased several times in the past. For others, this would be considered a major purchase, requiring extensive time to research all available brands and product options for an item that they have not purchased in the past or may have purchased so long ago that the technology is not familiar (for example: someone in their early to mid twenties will most likely have a different approach than their grandparents). www.apple.com

6.1) Pizza Hut: influencers would be the most important factor. The influencer would be me, as I am most particular about the brand of pizza I eat and would never order a Pizza Hut pizza. Summer Vacation: purchasers would be the most important factor. The purchaser would be my father, as he is paying for the vacation he would have the most impact on the decision. Fruit Loops breakfast cereal: consumer would be the most important factor. The consumer would be my nieces. This is an inexpensive product and the people eating the product would have the most impact on the decision. Abercrombie & Finch sweater: consumer would be the most important factor. This is a somewhat inexpensive product and the person wearing it would have the most impact on the decision. Golf clubs: influencer would be the most important factor. The influencer would be my father, as he is a serious golfer with extensive knowledge of the sport and related products. If I were buying golf clubs, I would defer to him for the brand and type to buy. Internet service provider: consumer would be the most important factor. This is an inexpensive product and the person using the product would have the most impact on the decision. New car: influencer, purchaser and consumer all would share responsibility. If I were buying a new car, as the consumer I would have major impact on the decision. However, my father, as an experienced new car buyer and the person I would probably borrow money from would also have a major impact on the decision.

8.1) Beliefs and attitudes are knowledge a consumer believes to be true and how they respond to a specific product or brand of product based on their learned values. Changing negative beliefs can be most difficult. It often involves modifying a consumer’s perception of the product, changing the perception of how the product can benefit them or adding new beliefs about the product. Examples: ???????
NOTE: Can we talk about this in more detail in class? I found this section of the reading to be extremely vague with regards to defining how this is done and so it is difficult for me to come up with examples. I was disappointed in this section of the text.