MKT 100 Lecture Notes - Lecture 5: Personal Knowledge Base, Relate

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

Consumer behaviour: use principles and theories from sociology, anthropology and psychology, understand consumer actions, develop basic strategies to deal with those actions, understand why people buy products or services. Consumer decision process: 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. Know what they need: functional need: pertain to the performance of a product or service. Looking for what will give you functionality: psychological needs: pertain to the personal gratification consumers associate with a product or service. Information search: occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences. Internal search for information: occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences. Asking other people, researching etc. about the product: factors effecting the process: