BUSI 2208 Lecture Notes - Personal Knowledge Base, Decision Rule, Scale-Invariant Feature Transform
22 Dec 2012
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Document Summary
The consumer decision process: to understand consumer behaviour we must ascertain why people buy products or services. People will buy one products over another because they perceive it to be a better value. Step 1: need recognition: beginning of the consumer decision process , occurs when consumers recognize they have an unsatisfied need and want to go from their actual, needy state to a different state. Functional need: pertain to the performance of a product or service. Consumers seek out products that they perceive perform really well. Psychological needs: pertain to the personal gratification consumer"s associate with a product or service. Step 2: search for information: must search for information on the various options that exist to satisfy the need. Consumers might fill in their personal knowledge gaps by talking with friends, family, salespeople etc. Internal search for information: occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences.
