Management and Organizational Studies 2320A/B Chapter Notes - Chapter 4: Personal Knowledge Base, Decision Rule, Cognitive Dissonance

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

Document Summary

The consumer decision process the process model represents the steps that consumers go through before, during and after making purchases. Functional needs pertain to the performance of a product or service. Marketers use numerous tactics to either remind customers of a need or create a new need common tactics marketers employ include using reminder advertising for their products, creating awareness about a new product, etc. Internal search for information occurs when the buyer examines his or her own memory or knowledge about the product or service, gathered through past experiences rely on past experiences. External search for information occurs when the buyer seeks information outside his or her personal knowledge base to help make the buying decision consumers might fill in their personal knowledge gaps by talking with friends, family. Higher the risk more likely the consumer is to engage in an extended search.