BU352 Chapter Notes - Chapter 4: Determinant, Reference Group, Customer Relationship Management
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Someone who is a little hungry vs. someone who is starving: types of needs, functional needs: performance of a product or a service, needing a particular aspect of a product/service because of what it does, ex. Needing a purse to carry your things: psychological needs: pertains to personal gratification that consumers associate with a product/service, ex. Needing a super expensive purse because you want people to think (cid:455)ou"re ri(cid:272)h: step 2: information search, search for options that exist to satisfy need, ex. For haircuts, search for different salons and stylists. Families will spend a lot of time researching about cars but less time about little toys for their kids. Internal locus of control: when people believe they have some control over outcomes of their actions: will generally engage in more search activities, ex. New tesla models: financial risk, risk associated with a monetary outlay; includes initial cost of purchase as well as costs of using item or service, ex.
