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9 Cards in this Set
- Front
- Back
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Consumer Decision Making |
> Consumer choice processes - High vs Low involvement - Thinking vs Feeling or rational choice vs emotional choice > High involvement decision making > Emotion driven choice > Impulse buying > Habitual consumption |
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Involvement |
the amount of effort and time you're willing to put into a decision. the more involved you become, the riskier the situation e.g., if there is high risk involved, the higher involvement you will put into it |
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Thinking vs Feeling or Cognition vs Affect |
Cognition = Rational processing Affect = Feeling/Emotional processing Rational Decisions : are based on facts Emotional Decisions : are based on feelings |
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Stages of High Involvement Decision Making |
> Can help us understand purchases e.g., houses, cars, long-term decisions |
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The 5 Stage Process |
1. Problem Recognition 2. Information Search 3. Evaluate of Alternatives 4. Purchase 5. Post Purchase (regret) |
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Problems with the 5 stage process |
- post purchase regret is more likely to happen if you skip from problem recognition, straight to purchase - hardly anyone goes through this process - if you waste your time thinking about the 5 stage process, you may never make the purchase - you can't quantify feelings |
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Habitual Choice |
Ongoing, repeated, very low involvement decision making. You don't know you're doing it It is a habit |
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Emotional Choice |
Decisions that are driven primarily by feeling & affect Decisions that are possibly more susceptible to changes in your mood/emotional state |
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Impulse Purchase |
Not usually repeated or ongoing purchases but rather 'spur of the moment' decisions Usually very low involvement decisions, but not always |
