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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 • Limited decision-making • Prior beliefs • Habitual decision-making • AKA Routine AKA Nominal • Brand loyalty • Brand inertia • 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 Unawareness Set Awareness Set Consideration Set Inert Set Inept 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