B A 370 Chapter Notes - Chapter 6: Personal Knowledge Base, Financial Risk, Decision Rule
Document Summary
Need recognition > information search > alternative evaluation > purchase and consumption > post- purchase. Need recognition - occurs when consumers recognize they have an unsatisfied need and want to go from their actual, needy state to a different, desired state. Greater the discrepancy between these two states, the greater the need recognition will be. Wants - goods or services that are not necessarily needed but are desired. Functional needs - retain to the performance of a product or service. Psychological needs - pertain to the personal gratification consumers associate with a product and/or service. Search for information about the various options that exist to satisfy that need. Length and intensity of the search are based on the degree of perceived risk associated with purchasing the product or service. Internal search for information - buyer examines their own memory and knowledge about the product or service gathers through past experiences.
