L2. Individual Decision Making Flashcards
How many types of consumer decisions are there?
Three
What are the types of consumer decisions?
- Extended problem-solving
- Limited problem-solving
- Habitual decision-making
Order the types of consumer decisions from lowest to highest?
Habitual decision-making
Limited problem-solving
Extended problem-solving
What are the types of risks involved in products?
- Financial risks
2. Social risks
What are the three buckets of consumer decision making?
- Cognitive
- Habitual
- Affective
What does Habitual decision making mean?
To try the same product/brand again and again. Why should I change the mentality. These actions are habitual. for example, driving on the same road also.
What does Affective decision making mean?
Emotional, instantaneous
What does Cognitive decision making mean?
Deliberate, rational, sequential
Habits and Routines are same or not?
Not the same
What is nudging?
stimuli that seek to change people’s behavior for their own benefit (trying to steer people in a particular direction)
What are the stages in consumer decision making?
- Problem recognition
- Information Search
- Evaluation of alternatives
- Product choice
- Outcomes
What are the types of problem recognition?
- Active
2. Passive
What is an Active problem in problem recognition?
A problem the consumer is aware of or will become aware of, in the normal cause of events.
What is a Passive problem in problem recognition?
the consumer is not aware of
What are some examples of passive problem recognition?
Body odour
Poor EQ
Poor dressing
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