ADM 2320 Lecture Notes - Lecture 4: Personal Knowledge Base, Buzz Cut, Relate

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Importance of understanding consumer behavior: understanding what consumers do, and why they do it, is a vital first step towards being able to predict and ultimately influence the behavior. Functional needs: pertain to the performance of a product or service would rather not have that feeling. Example: people go for gore-tex jackets are they are known for their great outerwear. Psychological needs: pertain to the personal gratification consumers associate with a product or service. Example: shoes provide us with a functional need. Why we spend on them is a way to satisfy our psychological needs. A key successful marketing is determining the correct balance of functional and psychological needs that best appeals to the firm"s target markets: information search. Internal search for information: occurs when the buyer examines his or her memory and knowledge about the product or service, gathered through past experience.

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