CB SESSION 8 INDIVIDUAL DECISION MAKING

CB SESSION 8 INDIVIDUAL DECISION MAKING - 8-1Decision...

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Unformatted text preview: 8-1Decision MakingCONSUMER BEHAVIOR8-2ObjectivesWhen you finish this lecture, you should understand why:Consumer decision making is a central part of consumer behavior, but the way we evaluate and choose products varies widely.A decision is actually composed of a series of stages that results in the selection of one product over competing options.Decision making is not always rational.8-3Objectives (continued)When you finish this lecture, you should understand why:Our access to online sources is changing the way we decide what to buy.We often fall back on well-learned rules-of-thumb to make decisions.Consumers rely upon different decision rules when evaluating competing options.8-4Figure 8.1 Stages in Consumer Decision Making 8-5Decision-Making PerspectivesAre consumers rational when they make purchase decisions?What is purchase momentum?What cognitive processing styles affect consumer decision making?- (Some) have Rational system , process information analytically and sequentially.- Experiential system of cognition , processes information holistically8-6Figure 8.2 Continuum of Buying Decision Behavior8-7Steps in the Decision-Making ProcessProblem recognitionInformation searchEvaluation of alternativesProduct choice8-8Stage 1: Problem RecognitionOccurs when consumer sees difference between current state and ideal stateNeed recognition: actual state declinesOpportunity recognition: ideal state moves upward8-9Figure 8.3 Problem Recognition8-10Stage 2: Information SearchThe process by which we survey the environment for appropriate data to make a reasonable decisionPrepurchase or ongoing searchInternal or external searchOnline search8-11Table 8.2 A Framework for Consumer Information SearchPrepurchase versus Ongoing SearchPrepurchase SearchOngoing SearchDeterminantsInvolvement with purchaseInvolvement with productMotivesMaking better purchase decisions...
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CB SESSION 8 INDIVIDUAL DECISION MAKING - 8-1Decision...

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