Management and Organizational Studies 2320A/B Chapter Notes - Chapter 4: Retail, Relate, Personal Knowledge Base

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

It begins when consumers recognize they have an unsatisfied need and want to go from their needy state to a different, desired state. The greater the discrepancy between these two states, the greater the need recognition. It can be classified as functional, psychological or both. Need recognition : it occurs when consumers recognize they have an unsatisfied need and want to go from their needy state to a different, desired state. Functional needs : pertain to the performance of a product or service. Psychological needs : pertain to the personal gratification consumers associate with a product or service. The the vast majority of products and services are likely to satisfy both functional and psychological needs. A key to successful marketing is determining the correct balance of functional and psychological needs that best appeals to the firm"s target markets. Marketers use numerous tactics to either remind customers of a need or create new needs.