MKT 100 Chapter Notes - Chapter 5: Personal Knowledge Base, Determinant

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Valerie Hung

Document Summary

The 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 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. Internal search of information - occurs when the buyer examines his/her own memory and knowledge about the product or service, gathered through past experiences. External search for information - occurs when the buyer seeks information outside his/her own personal knowledge base to help make the buying decision. Internal locus of control - refers to when consumers believe they have some control over the outcomes of their actions, in which case they generally engage in more search activities. External locus of control - refers to when consumers believe that fate or other external factors control all outcomes.