Management and Organizational Studies 2320A/B Study Guide - Midterm Guide: Personal Knowledge Base, Determinant, Impulse Purchase
31 Oct 2018
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Document Summary
Represents the steps that consumers go through before, during and after making purchases: need recognition, information search, alternate evaluation, purchase decision, post purchase. Need recognition: the beginning of the consumer decision process. Occurs when consumers recognize they have an unsatisfied need and want to go from their needy state to a different, desired state. Customers" needs can be classified as: functional, psychological, both. Successful marketing requires determining the correct balance of functional and psychological needs that best appeals to the firm"s target markets. Marketers use tactics to either remind customers of a need, or create new needs: research and understand what products customers want / need and why. Functional needs: pertain to the performance of a product or service. Psychological needs: pertain to the personal gratification consumers associate with a product or service. Some value getting a good deal, others value extra attention and amenities, etc. Search for information about the various options that exist to satisfy the needs.
