RMG 302 Lecture : Decision Making

• School: Ryerson University
• Department: Retail Management
• Course: RMG 302
• Professor: Donna Smith

Document Summary

Rational perspective calmly & carefully integrate as much info as possible with what they already know about a product, weigh the pros/cons of each alternative and arrive at a decision. T raditional perspective relates the economics of information approach to the search process; assuming we collect just as much data as we need to make an informed decision. Consumer decision making: problem recognition when a consumer sees a difference between his/her current. Information search the process in which the consumer surveys his/her environment for appropriate data to make reasonable decisions. Information sources can be internal (memory) or external (environment). Directed learning is where information had already been research previously, while incidental learning is the exposure to packaging, sales promotion, and advertising. Purchase momentum when initial impulses increase the likelihood that we"ll buy more. Rational system of cognition processes information analytically and sequentially using rules of logic. Experiential system of cognition processes information holistically and in parallel.