Consumer Decision Processes

download Consumer Decision Processes

of 19

Transcript of Consumer Decision Processes

  • 8/3/2019 Consumer Decision Processes

    1/19

    Consumer Decision Processes

    Prof Rushen Chahal

  • 8/3/2019 Consumer Decision Processes

    2/19

    You cant assume that people

    know what they want

    You cant assume that people will tell you the

    truth about their wants and dislikes, even if they

    know them. What you are likely to get are answers

    that will protect the informants in their steadfastendeavour to appear to the world as really

    sensible, intelligent rational beings

  • 8/3/2019 Consumer Decision Processes

    3/19

    Nature of Decision Processes

    Purchase options

    Consumption options Divestment options

  • 8/3/2019 Consumer Decision Processes

    4/19

    Purchase options Whether to buy or save?

    When to buy?

    What to buy both category and brand?

    Where to buy?

    How to pay?

  • 8/3/2019 Consumer Decision Processes

    5/19

    Consumption options Whether to consume or not?

    When to consume?

    How to consume?

  • 8/3/2019 Consumer Decision Processes

    6/19

    Divestment options Disposal

    Recycling

    Remarketing

  • 8/3/2019 Consumer Decision Processes

    7/19

    Consumer Problem Solving Rational

    Hedonic

    In most cases it is a combination of the two

  • 8/3/2019 Consumer Decision Processes

    8/19

    Consumer Decision Making

    Stages Need recognition

    Search for information

    Pre-purchase alternative evaluation

    Purchase

    Consumption Post-purchase evaluation

    Divestment

  • 8/3/2019 Consumer Decision Processes

    9/19

    Variables that shape decision

    making Individual differences

    Environment influences

    Psychological processes

  • 8/3/2019 Consumer Decision Processes

    10/19

    Individual differences Consumer resources

    Knowledge

    Attitudes

    Motivation

    Personality, values, lifestyle

  • 8/3/2019 Consumer Decision Processes

    11/19

    Environmental Influences Culture

    Social class

    Personal influence

    Family

    Situation

  • 8/3/2019 Consumer Decision Processes

    12/19

    Psychological Processes Information Processing

    Learning

    Attitude and changes in behaviour

  • 8/3/2019 Consumer Decision Processes

    13/19

    Information Processing Exposure

    Attention

    Comprehension

    Acceptance

    Retention

  • 8/3/2019 Consumer Decision Processes

    14/19

    Decision Process continuum

    high low

    complexity

    Degree of complexity

    Extended

    problem

    solving

    Habitual

    decision

    making

  • 8/3/2019 Consumer Decision Processes

    15/19

    Extended Problem solving

    Thought and evaluation precede the

    act of purchase and use because of

    the importance of making the right

    choice

  • 8/3/2019 Consumer Decision Processes

    16/19

    Limited Problem solving

    Need recognition leads to buying

    action, because the purchase does not

    assume great importance

  • 8/3/2019 Consumer Decision Processes

    17/19

    Factors influencing extent of

    problem solving

    Degree of involvement personal factors,

    product factors, situations

    Alternatives are differentiated time

    availability, consumer mood

    Sufficient time for deliberation

  • 8/3/2019 Consumer Decision Processes

    18/19

    Impulse buyingIt does not have the indifference that accompanies LPS. A

    high sense of emotional involvement and urgency shortcircuits the reasoning process and motivates immediate

    action A sudden and spontaneous desire to act accompanied by

    urgency

    State of psychological disequilibrium in which a personcan feel out of control

    Onset of conflict and struggle that is resolved byimmediate action

    Minimal objective evaluation

    Lack of regard for consequences

  • 8/3/2019 Consumer Decision Processes

    19/19

    Variety Seeking

    Acivation of seeking variety as a motive Similar alternatives

    Frequent brand shifts

    High purchase frequency


Markov Decision Processes

Markov Decision Processes

Lecture 2: Markov Decision Processes - David Silver · 2020-03-31 · Lecture 2: Markov Decision Processes Markov Processes Introduction Introduction to MDPs Markov decision processes

Lecture 2: Markov Decision Processes - David Silver · 2020-03-31 · Lecture 2: Markov Decision Processes Markov Processes Introduction Introduction to MDPs Markov decision processes

Consumer involvement decision

Consumer involvement decision

Decision Making Processes

Decision Making Processes

Feelings and Consumer Decision Making 1 - Dr. Jennifer …jenniferlerner.com/.../08/20.Feelings-and-Consumer-Decision-Making… · Feelings and Consumer Decision Making 1 Running

Feelings and Consumer Decision Making 1 - Dr. Jennifer …jenniferlerner.com/.../08/20.Feelings-and-Consumer-Decision-Making… · Feelings and Consumer Decision Making 1 Running

Consumer Decision Process

Consumer Decision Process

CONSUMER PSYCHOLOGY FOR MARKETING - … DO CONSUMERS WANT.pdfUNDERSTANSTING CONSUMER PSYCHOLOGY • How they buy (thinking processes, purchase decision making, frequency, etc.) •

CONSUMER PSYCHOLOGY FOR MARKETING - … DO CONSUMERS WANT.pdfUNDERSTANSTING CONSUMER PSYCHOLOGY • How they buy (thinking processes, purchase decision making, frequency, etc.) •

CONSUMER COMPLAINT & APPEAL PROCESSES · DDS CONSUMER COMPLAINT & APPEAL PROCESSES • Consumer Rights Complaint Process ... • English • Farsi • Hmong • Korean • Russian

CONSUMER COMPLAINT & APPEAL PROCESSES · DDS CONSUMER COMPLAINT & APPEAL PROCESSES • Consumer Rights Complaint Process ... • English • Farsi • Hmong • Korean • Russian

Course Descriptions...Consumer Behavior (3 units) Prerequisite(s): BUS 330 Study of the decision processes of individuals and groups toward consumer products and their implications

Course Descriptions...Consumer Behavior (3 units) Prerequisite(s): BUS 330 Study of the decision processes of individuals and groups toward consumer products and their implications

Levels of Consumer Decision making & A model of Consumer Decision making in Consumer Behaviour.

Levels of Consumer Decision making & A model of Consumer Decision making in Consumer Behaviour.

CONSUMER BEHAVIOUR AND DECISION MAKING PROCESSES

CONSUMER BEHAVIOUR AND DECISION MAKING PROCESSES

AUTHORING THE ORGANISATIONAL DECISION-MAKING … · 2 AUTHORING THE ORGANISATIONAL DECISION-MAKING GENRE: DECISION PROCESSES AS FICTIONAL TALES Abstract Decision-making processes

AUTHORING THE ORGANISATIONAL DECISION-MAKING … · 2 AUTHORING THE ORGANISATIONAL DECISION-MAKING GENRE: DECISION PROCESSES AS FICTIONAL TALES Abstract Decision-making processes

Consumer Decision Making Key Concepts. Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased.

Consumer Decision Making Key Concepts. Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased.

Consumer Decision Making - Rof's Blog · Models of Consumer Decision Making Consumer Gifting Behavior Relationship Marketing. Levels of Consumer Decision Making Extensive Problem

Consumer Decision Making - Rof's Blog · Models of Consumer Decision Making Consumer Gifting Behavior Relationship Marketing. Levels of Consumer Decision Making Extensive Problem

Consumer Decision Making

Consumer Decision Making

Financial Decision Making Processes of Low-Income Individuals · consumer behavior in complex industrialized societies. While consumer decisions in modern economies are often considered

Financial Decision Making Processes of Low-Income Individuals · consumer behavior in complex industrialized societies. While consumer decisions in modern economies are often considered

hdormational ---- - --- --- ----~ and Decision Processes ...materias.fi.uba.ar/7566/...and-Decision-Processes-for-Flexible-Manufacturing-Systems.pdfhdormational ---- _ - ---_--- _

hdormational ---- - --- --- ----~ and Decision Processes ...materias.fi.uba.ar/7566/...and-Decision-Processes-for-Flexible-Manufacturing-Systems.pdfhdormational ---- _ - ---_--- _

Business Decision Processes

Business Decision Processes

Introduction to Markov Decision Processes - SZTAKIold.sztaki.hu/~csaji/Introduction-to-MDPs.pdf · Introduction to Markov Decision Processes Markov Decision Processes A (homogeneous,

Introduction to Markov Decision Processes - SZTAKIold.sztaki.hu/~csaji/Introduction-to-MDPs.pdf · Introduction to Markov Decision Processes Markov Decision Processes A (homogeneous,

D3 4 H CONSUMER DECISION MAKINGd34-h.tamu.edu/files/2014/01/2014-Consumer-Letter.pdf · D3 4‐H CONSUMER DECISION MAKING ... Roundup and before the start of the Consumer Decision

D3 4 H CONSUMER DECISION MAKINGd34-h.tamu.edu/files/2014/01/2014-Consumer-Letter.pdf · D3 4‐H CONSUMER DECISION MAKING ... Roundup and before the start of the Consumer Decision