ADM 2320 Lecture Notes - Lecture 4: Personal Knowledge Base, Financial Risk, Competitive Intelligence

• School: University of Ottawa
• Department: Administration
• Course: ADM 2320
• Professor: Gurprit Kindra

Document Summary

E. g, a diversi cation strategy introduces a new product or service to a market segment that. C) is currently not served already exists d) B) behaviour, dress, physical settings temperature, topology, climate. > functional needs = pertain to the performance of a product or service (the boots will protect my feet) > psychological needs - pertain to the personal grati cation consumers associate with a product or service (the boots look pretty, and they make her look stylish) Step 2: information search: internal search for information. > the buyer examines his or her own memory and knowledge about the product or service: external search for information. > the buyer seeks information outside his or her personal knowledge base to help make the buying decision. > perceived costs of search (takes time to search things ) > internal locus of control: some control over outcomes = engage in more search activities.