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Consumers make many buying decisions every day. Most large companies research consumer buying decisions in depth to answer questions about what, where, when, why, how, and how much consumers buy.
Member rating: No Rating | Words: | Submitted: Mon Dec 22 2003
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1. Introduction Consumers make many buying decisions every day. Most large companies research consumer buying decisions in depth to answer questions about what, where, when, why, how, and how much consumers buy. Marketers can study actual consumer purchases to find out what they buy, where and how much. But learning about the whys of consumer buying behaviour is not so easy; the answers are often locked deep within the consumer's head. The central question for marketers is: How do consumers respond to various marketing efforts the company might use? The starting point is the stimulus-response model of buyer behaviour (Figure 1). It shows that marketing and other stimuli enter the consumer's "black box" and produce certain responses. Marketing stimuli consist of four Ps: product, price, place and promotion. Other stimuli include major forces and events in the buyer's environment: economic, technological, political and cultural. All these inputs enter the buyer's black box,...
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