MKT243 2C & 2G LECTURE (WEEK 3)

Chapter 2 explores the intricacies of consumer behavior by examining the complete lifecycle of how buyers make decisions, use products, and eventually dispose of them. Every purchase is secretly guided by four invisible forces: cultural factors (like shared values and norms, such as Halal certification in Malaysia), social factors (including family influence and opinion leaders), individual factors (like lifestyle and self-concept), and psychological factors (such as motivation, learning, and perception). These forces actively influence a highly structured, five-step purchasing journey that begins with need recognition, where a stimulus triggers an imbalance between a consumer's actual and desired state. Consumers then conduct internal and external information searches to reduce risk, evaluate an "evoked set" of alternatives based on strict criteria, and make final micro-decisions about when, where, what, and how to buy. Post-purchase, buyers often experience cognitive dissonance, which marketers must help alleviate to secure future brand loyalty. Ultimately, the amount of time and effort invested in this entire process scales directly with a product's cost and the buyer's familiarity with it, categorizing purchases into routine response behavior, limited decision-making, or extensive decision-making.