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