ADMS 3210 Lecture Notes - Lecture 6: Decision-Making, Mental Accounting, Satisficing

• School: York University
• Department: Administrative Studies
• Course: ADMS 3210
• Professor: Jodie Whelan

Document Summary

Individual decision making: decision making process, problem recognition information search evaluation of alternatives product choice. Consumption & learning: perspectives on decision making, rational perspective (objective) Integrate as much information as possible with what they already know of product: weigh pluses & minus of each alternative, arrive at satisfactory decision, behavioral influence perspective, decisions learned responses to environmental cues, ex. Place item in vision appeal to cues of vision/sight: experiential perspective (subjective, decision based on totality of product"s appeal, affective responses subjective, ex. Music/pet/movie/vacation: types of decision making, habitual limited extended, habitual. Problem recognition: problem recognition, occurs when experience significant difference between current state & desired state, need recognition, decreases the actual self, ex. Something of your possession breaks: opportunity recognition. Information search: pre-purchase vs. ongoing, pre research after establishing need, research before establishing need (ex. Research condo although not planning to buy) helps prepare for when purchasing. Evaluation of alternatives university, chid labor abused clothing)