COMMERCE 3MC3 Lecture Notes - Lecture 4: Mobile Marketing
3 Nov 2017
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Document Summary
Functional needs- the performance of the product: did the purchase fufill its need. Psychological needs- personal gratification of customers: will my friends like my bag. External search for information includes searching online, talking to peers, friends, family members, product experts. Time spent on searching factors on product involvement. Benefits vs. the cost: benefits outweigh the cost you"ll spend more time on it, product category for coworker, brother, best friend all the same. Internal locus of control some control over outcomes= engage in more search activities. External locus of control: fate, external factors control all outcomes. Risks delay or discourage purchase actual versus perceived risk. Performance risk: involves the perceived danger inherent in a poorly performing product or service. Financial risk: risk associated with a monetary outlay; includes the initial cost of the purchase; as well as the costs of using the item or service.
