1. Watch "The Consumer Buying Process: How Consumers Make Purchase Decisions" and "5 Stages of the Consumer Decision-Making Process and How It's Changed" videos at the bottom of this page and Explain what you learned from them. Fully explain each of the five steps in the consumer decision-making process. Give an example of one of your recent purchases and specifically how you completed each step in the decision-making process. How has the consumer decision-making process changed over the past few years with the increased availability of online data and social networks?
2. Using your own words, explain cognitive dissonance and its importance in marketing. Discuss the ways in which marketers can try to reduce cognitive dissonance. Give an example of when you experienced cognitive dissonance about a recent purchase and explain what you did about it.
3. Watch the "What is Consumer Involvement?" and "Customer Buying Behaviors Based on Brand Differences & Involvement" videos at the bottom of this page and Explain what you learned from them. Fully explain each of the three categories of consumer decision-making behavior. Why is it important for marketers to understand these categories of consumer behavior? For each of the three levels of consumer involvement, give examples of some of your recent purchases and explain why each one fits into a particular category of consumer involvement.
4. Family members play many different roles in the buying process: initiator, influencer, decision maker, purchaser, and consumer. Identify the person in your family who might play each of these roles in the purchase of a dinner at Pizza Hut, a summer vacation, Froot Loops breakfast cereal, an Abercrombie & Fitch sweater, golf clubs, an Internet service provider, and a new car.
5. Watch the "Business Marketing" and "Consumer and Business Markets" videos at the bottom of this page and Explain what you learned from them. Fully explain how business markets are different from consumer markets. Be sure to include information on how they differ based on each of the following: demand, purchase volume, number of customers, concentration of customers, distribution structure, and nature of buying. Can the same product be both a consumer product and a business product? What specifically determines whether a product is characterized as a consumer product or as a business product? What is the primary promotional method used for business products?
6. Using your own words, list and describe the 7 types of business products. Give your own unique (not listed in the textbook) example for each type of business product. https://youtu.be/IioMujmOTGk https://youtu.be/IPET-5BN2gU https://youtu.be/8Vt4CRiHhRA https://youtu.be/9Y17YaZRRvY https://youtu.be/282_1Htx3Hw https://youtu.be/zPFeoNkZYGc https://youtu.be/a9lpVg54u-k https://youtu.be/ned1__f7xlg https://youtu.be/wx3qR3gLh60 https://youtu.be/MhrcpAZvGbM https://youtu.be/lBWhPKEoGgc