Decision Making I

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Decision-Making I: Need Recognition & Search

Chapter 11

Consumer Decision-Making Process


Need Recognition Information Search

Evaluation of Alternatives
Choice Postpurchase evaluation

Decision-Making

Can be influenced by:

Choice Value Motivation Emotion

Decision-Making Perspectives

Rational Decision-Making

Consumers think logically

Experiential Decision-Making

Feel

Do

Think

Behavioral Influence Decision-Making

Environmental influences

Decision-Making Approaches

Depends upon:

Involvement Perceived risk


Financial Social Performance Physical Time

Decision-Making Approaches

Three types:

Extended decision-making

Information sources Types of products Prior beliefs AKA Routine AKA Nominal Brand loyalty Brand inertia

Limited decision-making

Habitual decision-making

Effects of brand loyalty

Step 1: Problem Recognition

Compare actual v. ideal state What if they are equal?

Step 2: Information Search

Search behavior

Behaviors that consumers engage in as they seek information that can be used to resolve a problem

Ongoing searches Prepurchase search Information overload

Universal Set

Awareness Set

Unawareness Set

Consideration Set

Inept Set

Inert Set

Step 2: Information Search

Internal Search External Search Evaluative criteria

Price? Quality?

Step 2: Information Search

How long to search?

Product experience Involvement Perceived risk Value of search efforts Time availability Shopping attitude Personal factors Situational influencers

Step 2: Information Search

Search Regret

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