Learning takeaways of chapter 5&6&7

 For the takeaways of these 3 chapters, I came up with 4,4,5 points each as takeaway.
Chapter 5.
The Five Stages of the Consumer Purchase Decision Process
Consumer purchase decisions consist of five stages: problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Companies should identify touchpoints in these processes and use customer journey maps to deepen their understanding.

Three Variations of the Purchase Decision Process
Consumers use three decision-making styles. Which are extensive, limited, and habitual. Depending on their level of involvement. In cases of high involvement, they carefully go through all the steps, while in cases of low involvement, they tend to minimize information gathering and evaluation.

Psychological Factors Affecting Consumer Behavior
Psychological factors such as motivation, personality, perception, learning, values, beliefs, attitudes, and lifestyle have a significant impact on consumer purchasing behavior. These factors are also related to the formation of brand loyalty and product evaluation criteria.

Sociocultural Factors Influencing Consumer Behavior
Sociocultural factors arising from formal and informal personal relationships also influence purchasing behavior. Personal influences such as opinion leaders and word of mouth, self-evaluation and reference groups, family life cycles and decision-making, social class, culture, and subculture all affect product preferences and purchasing patterns.

For the chapter 6,
Three types of organizational markets
There are three types of organizational markets: industrial markets, reseller markets, and government markets. Industrial markets reprocess products for resale, while resellers resell products without processing them. Government markets purchase products and services for public services. NAICS (North American Industry Classification System) provides a common standard for measuring the economic activities of these markets.

Characteristics of organizational purchasing and differences from consumer purchasing
Organizational purchasing has characteristics that differ from consumer purchasing, such as the nature of demand, order size, number of buyers, purchasing objectives, purchasing criteria, buyer-seller relationships, and the presence of multiple decision-makers. The purchasing process is more formal, involves more participants, and places greater emphasis on supplier capabilities and post-purchase evaluations.

The Influence of Purchasing Centers and Purchasing Situations
Purchasing centers consist of multiple members who share common goals, risks, and knowledge and are involved in purchasing decisions. They include not only purchasing managers but also influential individuals and gatekeepers who manage the flow of information.

Characteristics of online purchasing in the organizational market
Online technology enables the immediate sharing of information and reduces order processing costs, expanding the scope of transactions through e-marketplaces. In traditional auctions, the highest bidder wins, but in reverse auctions, the supplier offering the lowest price is selected.

And lastly for the chapter 7,
The Essence of World Trade and a Global Perspective
World trade can be viewed as a complementary economic activity in which exports and imports influence each other. Trade flows reflect the interdependence between industries, countries, and regions.

Major Trends Affecting World Trade and Global Marketing
Recent major trends include the rise of economic protectionism in various countries, challenges to free trade, competition among global companies, the emergence of global markets utilizing the Internet, and an increase in economic espionage activities surrounding technology and confidential information.

Environmental factors affecting global marketing
Cultural factors (values, customs, language), economic factors (stage of economic development, income, purchasing power, exchange rates), and political and regulatory factors (legal systems and policies of each country) have a significant impact on the success of global marketing.

Approaches for companies to enter global markets
Companies can enter overseas markets in four ways: exporting, licensing agreements, joint ventures, and direct investment. Exporting involves selling products to other countries, while licensing agreements involve providing intellectual property usage rights. Joint ventures involve joint investment with local companies, and direct investment involves establishing subsidiaries in local countries.

The difference between standardization and customization in global marketing strategies
Standardization is a strategy that unifies marketing elements across all countries, while customization is a strategy that adjusts elements according to the country and culture. Global companies build their strategies based on the principle of “standardizing as much as possible and customizing as needed.”