MKT 400 Study Guide - Midterm Guide: Ethnography, Belongingness, Blue Ocean Strategy

• School: Ryerson University
• Department: Marketing
• Course: MKT 400
• Professor: Steven Chuang

Document Summary

In example, the consumer realizes a need for better communication with other people and access to outside media, including the internet. This realization may be motivated by a desire to do better on the job or to have better on the job or to have better access to friends and family. A need occurs when a consumer is faced with a difference between an actual and desired state. A need can occur immediately and can be a very basic impulse that you experience or when you are affected by outside influences such as a friend. A want is simply a specific desire that spells out a way a consumer can go about addressing a recognized need. An exchange is the acting out of a decision to give something up in return for something of greater value. The cost involves more than just the price of the product.