SMG MK 323 Lecture Notes - Financial Risk, Cognitive Dissonance, Decision Rule
Document Summary
The process begins when consumers recognize they have an unsatisfied need and they would like to go from their actual needy state to a different desired state. The greater the discrepancy between the 2 states, the greater the need recognition will be. Most goods and services seek to satisfy functional as well as psychological needs albeit to different degrees. The length and intensity of the search for info is based on the degree of perceived risk associated with purchasing the product/service. Internal search for information = the buyer examines his/her own memory and knowledge about the product gathered through personal experience. Ex: katie wants a salad so she goes to the store that she always goes to. External search for information = the buyer seeks information outside his/her own personal knowledge to help them make decisions. Scour commercial media for unsponsored, biased information. Most common external info source = search engines.
