BU352 Lecture Notes - Lecture 2: Christian Louboutin, Personal Knowledge Base
Document Summary
Decision process begins when consumers recognize they have an unsatisfied need and want to go from a needy state desired state. Greater discrepancy between these two states = greater the need recognition. Needs can be functional, psychological, or both: vast majority of products/services are likely to satisfy both (to different degrees) E. g. a haircut - vs. . Key to successful marketing is determining the right balance of functional and psychological needs that best appeals to target market. Pertain to the performance of a product or service. North face displaying the material content on each piece of clothing. Pertain to the personal gratification consumers associate with a product/service. Searching for information about the various options that exist to satisfy a need. Length and intensity of search depend on several factors: degree of perceived risk, importance of product to consumer. Buyer examines their own memory and knowledge about the product. Buyer seeks information outside of their personal knowledge base.
