consumer behavior ch.9

CHAPTER 9

CONSUMER KNOWLEDGE

CHAPTER OUTLINE

I. Consumer Knowledge

A.        Consumer knowledge is subset of the total information stored in memory that is relevant to product purchase and consumption.

II. Types of Consumer Knowledge

A.        Knowledge of the product’s existence

B.         Knowledge of the product’s attributes and associations

C.         Purchase knowledge:

1.          How much does it cost?

2.          When to buy?

3.          Where to buy?

D.        Consumption and usage knowledge

E.         Persuasion knowledge

III. Sources of Consumer Knowledge

A.        Family, Friends, co-workers, others

B.         The media

C.         The internet

D.        Experience

IV. The Benefits of Understanding Consumer Knowledge

A.        Lack of knowledge creates knowledge gaps, which may undermine consumer welfare.

B.         Undesirable knowledge can create misperceptions about products, brands, manufacturers, and retail stores.

C.         Gauging the product’s positioning success can be determined by understanding consumer’s knowledge of it.

D.        Discovering new uses

E.         Gauging the severity of competitive threats

F.          Enhancing the effectiveness of consumer recruitment activities