Management and Organizational Studies 2320A/B Chapter Notes - Chapter 4: Personal Knowledge Base, Elaboration Likelihood Model, Customer Relationship Management

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

Document Summary

The consumer decision 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: ex. Psychological needs: pertain to the personal gratification consumers associate with a product and/or service: ex. Step 2: information search length and intensity of the search are based on several factors, including the degree of perceived risk associated with purchasing the product or service and the importance of the product to the consumer. Internal search for info: buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences: ex. Going to a restaurant you already went to: external search for info: the buyer seeks information outside his or her personal knowledge base to help make the buying decision, ex. Factors affecting consumers" search processes: the perceived benefits versus perceived costs of search.