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Lecture 1
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Lecture 1

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  • 1. Consumer Behavior
    • It is the study of how people buy, what they buy, when they buy and why they buy or do not buy
    • It attempts to understand the buyer decision making process individually and in a group
  • 2. Consumer Buying Process
    • Problem Recognition
    • Information Search
    • Evaluation of alternatives
    • Purchase Decision
    • Purchase
    • Post-Purchase Behavior
  • 3. Types of Consumer Buying Behavior
    • Routine Response/Programmed Behavior
    • Limited Decision Making
    • Extensive Decision Making
    • Impulse Buying
  • 4. Role of Consumer Behavior
    • User
    • Payer
    • Buyer
  • 5. Consumer Behavior in Services
    • People Processing (e.g. motel stay): customer is physically involved through entire process
    • Possession Processing (e.g. DVD repair) involvement may be limited to drop off of physical items/description of problem and subsequent pick up
    • Mental Stimulus Processing (e.g. weather forecast) involvement is mental not physical here customer simply receives output and reacts
    • Information Processing (e.g. health insurance) involvement is mental-specify information upfront and later receives documentation of coverage

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