chap 1`1 - Chapter 11 Post decision process No chapter 6...

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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.
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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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