1.2.10 Alternative Views To Consumer Behaviour Flashcards
1
Q
What is rational decision making?
A
The idea that economic agents are able to consider the outcome of their choices and recognise the net benefits.
2
Q
What factors can influence people rational decision making?
A
- Peer pressure
- Producers influence through advertising can cause emotional decisions
-Producers use of neuro branding
3
Q
What is neuro branding?
A
Neuro branding is building patterns in a consumers subconscious to encourage actions.
4
Q
What do consumers often rely on to make purchases?
A
Consumers often rely on habits to make purchases.
5
Q
Why can habits cause people to purchase products?
A
Because of their addictive goods, sellers exploiting them, their own internal for convenience.
6
Q
What is consumer inertia?
A
The tendency of consumers to continue to buy something even with superior options
7
Q
Why do consumers lack to compute things?
A
- Wider range of choice makes it harder to decide which is best
- Lack time or ability
- Producers placing things at eye level
- Producers placing products with higher benefits at knee of a higher level
