Consumer Decision Making and Beyond

Consumer Decision Making and Beyond

Levels of Consumer Decision Making

Models of Consumers: Four Views of Consumer Decision Making

•     An Economic View

•     A Passive View

•     A Cognitive View

•     An Emotional View

Three Stages of Consumer Decision Making

•     Need Recognition

•     Prepurchase Search

•     Evaluation of Alternatives

Coping with Missing Information

•     Delay decision until missing information is obtained

•     Ignore missing information and use available information

•     Change the decision strategy to one that better accommodates for the missing information

•     Infer the missing information

Types of Purchases

Outcomes of Postpurchase Evaluation

•     Actual Performance Matches Expectations

–     Neutral Feeling

•     Actual Performance Exceeds Expectations

–     Positive Disconfirmation of Expectations

•     Performance is Below Expectations

–     Negative Disconfirmation of Expectations

Gifting Behavior

Gifting is an act of symbolic communication, with explicit and implicit meanings ranging from congratulations and love, to regret, obligation, and dominance.

Consumers Are Less Loyal – Why?

•     Abundance of choice

•     Availability of information

•     Entitlement

•     Commoditization

•     Insecurity

•     Time scarcity