BU352 Lecture Notes - Lecture 4: Financial Risk, Personal Knowledge Base, Determinant
Document Summary
Represents the steps that consumers go through before, during, and after making purchases. Locus of control internal locus of control believes they have control over the outcomes of their actions and will therefore spend more time searching for info. Actual or perceived risk risk associated with purchase decisions. Performance risk involves the perceived danger inherent in a poorly performing product. Financial risk associated with a monetary outlay and includes the initial cost of the purchase, as well as the cost of using the item. Physiological risk associated with the fear of actual harm should the product not perform properly. This could convince you, e. g. at grocery store, people stack up the fruits and you will think it"s on sale or something. Step 5 post purchase marketers are interested in how customers feels after they buy it, they hope to create satisfied customer who become loyal and purchase again, or spread the word: three possible post purchase outcomes.
