BUSI 2204 Lecture Notes - Lecture 5: Cognitive Dissonance, Customer Satisfaction
19 Jun 2015
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Document Summary
Marketers who can recognize customers" needs even before customers articulate those needs could acquire strategic competitive advantage over competitors: consumer decision process: need recognition, info search, alternative evaluation, Purchase decision and post purchase: factors influencing consumer buying decision : psychological, social, cultural and situational, need recognition: the consumer"s buying decision process begins when they recognize an unfulfilled need or a want. Functional need relates to performance of a product or service. Psychological needs relate to the personal gratification consumers associate with the product or service. Information search: after a consumer recognizes a need, next step is to search for information about the various options that exist to satisfy that need. The length and intensity of that search depends on the importance of the product/service to the consumer and the risk associated with purchasing the good/service. Internal search information occurs when the buyer examines his/her memory own and knowledge about the product or service gathered through past experiences.
