Management and Organizational Studies 2320A/B Chapter Notes - Chapter 4: Conversion Marketing, Cognitive Dissonance, Decision Rule

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

Need recognition when consumers recognize they have an unsatisfied need and want to go from their needy state to a different, desired state. 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. Internal search for information buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences. External search for information buyer seeks information outside his/her personal knowledge and base to help make the buying decision (friends, family, internet, etc. ) Factors affecting consumers" search process: the perceived benefits vs. perceived costs of search, the locus of control. Internal locus of control people who believe they have some control over the outcomes of their actions, in which case they generally engage in more search activities. Consumers often base their evaluations on a set of important attributes or evaluative criteria.