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Chapter 9

Chapter 9 Notes

4 Pages

Course Code
MKT 400
Ida Berger

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thTuesday March 20 2012 Chapter 9 Individual Decision Making Consumers as Problem Solvers consumer purchase may be a response to perceived problems these situations are encountered by consumers virtually every day of their lives they realize that they want to make a purchase and go through a series of steps to do so these steps can be described as 1 Problem recognition 2 Information search 3 Evaluation of alternatives 4 Product choice after the decision is made the quality of that decision affects the final step in the process there are 3 steps in the decision process 1 How consumers recognize the problem or need for a product 2 Their search for information about product choices 3 The ways in which they evaluate alternatives to arrive at a decision because some purchase decisions are more important than others the amount of effort we put into each differs sometimes the decision making process is done almost automatically a person may also spend literally days or weeks thinking about an important purchase such as a new homeintensive decision making process gets even more complicated in todays environment where we have so many options to choose from for many modern consumers one of the biggest problems is not having too few choices but too many we can think of this profusion of options as consumer hyperchoicePerspectives on Decision Making consumer researchers have approached decision makers from a rational perspective this traditional approach perspective relates to the economics of information approach to the search process it assumes that we collect just as much data as we need to make an informed decision utilitarian assumption also implies that we collect the most valuable units of information first this process implies that steps in decision making should be carefully studied by marketing managers to understand how information is obtained how beliefs are formed and what product choice criteria are specified by consumers these decision making steps are followed by consumers for some purchase this process is not an accurate portrayal of many purchase decisions consumers simply do not go through this elaborate sequence for every decision if they did their entire lives would be spent making decisions leaving them very little time to enjoy the things they eventually decide to buy other actions are actually contrary to those predicted by rational modelsEx purchase momentum occurs when these initial impulses actually increase the likelihood that we will buy even more almost as if we get revved up and plunge into a spending spree some decisions are made under conditions of low involvement in many of these situations the consumers decision is a learned response to environmental cues as when a person decides to buy sometimes on impulse that is promotes as a surprise special in a store concentrating on these types of decisions can be described as the behavioral influence perspective
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