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Fundamentals Of

Marketing
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Chapter 3
Consumer and Business
Decision Making

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Importance of understanding
consumer behavior
 Consumers’ product and service
preferences are constantly changing
 Understanding how consumer make
purchase decisions can help marketing
managers to determine the most
important attribute for certain target
market
 Easily design and developing marketing
strategy

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Beliefs Attitudes

 Beliefs are organized  An attitude is a learned


tendency to respond consistently
patterns of knowledge
toward a given object. Beliefs
that an individual holds as help form the basis for attitudes,
true about his or her as do values.
world.
 Often the marketer's goal is to
change attitudes toward a
 Consumers tend to brand. This goal might be
develop a set of beliefs accomplished in three ways:
about a product's
attributes and through ◦ Changing beliefs about the
brand's attributes
these beliefs, form a ◦ Changing the relative importance
brand image, a set of of these beliefs
beliefs about a particular ◦ Adding new beliefs
brand.

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