chap 1`1 - Chapter 11 Post decision process • No chapter...

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Unformatted text preview: Chapter 11: Post decision process. • No chapter 6 • Final exam is not cumulative. • Dissonance: feeling of an anxiety after the decision has been made (usually negative) • Dissonance is high when MAO is high. • Thinking a feeling goes into the decision making, regret is sometimes building up throughout time, or it can start of as enormous then fades out. • Hypothesis generation: exposed to evidence that influences our hypothesis. • Encoding: analysis of the evidence I am exposed to. • We relate the believes which we initially brought to this whole process. • If motivation is high we will generate more hypotheses and look for evidence to support them or refute them. • Among many brands it’s hard to get the diagnostic info. • Simple conformation: all Spanish wine is fabulous. • Attribution theory: how do u attribute cause, assess causation, temporary or long term cause. • Final exam: ch. 7,8,9, 11, 15 • Book Notes: • Consumer are not always confident about their acquisition. • Post decision Dissonance: A feeling of anxiety over whether the correct decision was made. o Most likely to occur when more than 1 alternative seem attractive. o can influence consumer behavior because it creates anxiety that the consumer would like to reduce especially when MAO is high. o To reduce dissonance ppl look for additional info from experts and magazines • Regret: a feeling that one should have purchased another option o Happens when consumers perceives an unfavorable comparison between the chosen option and the alternatives. o Ex: if you buy a car and then find out that the resale of it is much lower than that of the other alternatives. o You may feel regret even if you have no info abt the other alternative esp. if the decision is irreversible, or when u get a negative out come from ur acquisition. o Short term regret for not buying within a limited-time purchase opportunity goes away. o Consumers with self control who avoid the regret of purchasing can end up regretting missing out (not purchasing) o In case consumers regret their choice and switch to a different product, they might not regret switching because they will feel like their decision to switch is justified....
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This note was uploaded on 06/24/2011 for the course MANAGEMENT MGTD13H3 taught by Professor Mcconky during the Spring '11 term at University of Toronto.

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chap 1`1 - Chapter 11 Post decision process • No chapter...

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