MKT 100 Chapter Notes - Chapter 4: Personal Knowledge Base, Cognitive Dissonance, Decision Rule

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Janice Rudkowski

Document Summary

Represents the steps that consumers go through before, during, and after making purchases. Need recognition is the beginning of the consumer decision process; occurs when consumers recognize they have an unsatisfied need and want to go from their needy state to a different desired state. The key to successful marketing is determining the correct balance of functional and psychological needs that best appeals to the firm"s target markets. Marketer"s use numerous tactics to either remind customers of a need or create new needs. Functional needs pertain to the performance of a product or service o. Gore-tex, polartec, and thinsulate have been viewed as functionally superior to others that might be used in rugged, high-performance outerwear. Psychological needs pertain to the personal gratification consumers associate with a product or service o. Second step, is to search for information about the various options that exist to satisfy the need.