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Consumer Decision Processes

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Consumer Decision Processes You can t assume that people know what they want You can t assume that people will tell you the truth about their wants and ... – PowerPoint PPT presentation

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Title: Consumer Decision Processes


1
Consumer Decision Processes
2
You cant assume that people know what they want
  • You cant assume that people will tell you the
    truth about their wants and dislikes, even if
    they know them. What you are likely to get are
    answers that will protect the informants in their
    steadfast endeavour to appear to the world as
    really sensible, intelligent rational beings

3
Nature of Decision Processes
  • Purchase options
  • Consumption options
  • Divestment options

4
Purchase options
  • Whether to buy or save?
  • When to buy?
  • What to buy both category and brand?
  • Where to buy?
  • How to pay?

5
Consumption options
  • Whether to consume or not?
  • When to consume?
  • How to consume?

6
Divestment options
  • Disposal
  • Recycling
  • Remarketing

7
Consumer Problem Solving
  • Rational
  • Hedonic
  • In most cases it is a combination of the two

8
Consumer Decision Making Stages
  • Need recognition
  • Search for information
  • Pre-purchase alternative evaluation
  • Purchase
  • Consumption
  • Post-purchase evaluation
  • Divestment

9
Variables that shape decision making
  • Individual differences
  • Environment influences
  • Psychological processes

10
Individual differences
  • Consumer resources
  • Knowledge
  • Attitudes
  • Motivation
  • Personality, values, lifestyle

11
Environmental Influences
  • Culture
  • Social class
  • Personal influence
  • Family
  • Situation

12
Psychological Processes
  • Information Processing
  • Learning
  • Attitude and changes in behaviour

13
Information Processing
  • Exposure
  • Attention
  • Comprehension
  • Acceptance
  • Retention

14
Decision Process continuum
complexity
high
low
Degree of complexity
Habitual decision making
Extended problem solving
15
Extended Problem solving
  • Thought and evaluation precede the act of
    purchase and use because of the importance of
    making the right choice

16
Limited Problem solving
  • Need recognition leads to buying action, because
    the purchase does not assume great importance

17
Factors influencing extent of problem solving
  • Degree of involvement personal factors, product
    factors, situations
  • Alternatives are differentiated time
    availability, consumer mood
  • Sufficient time for deliberation

18
Impulse buying
  • It does not have the indifference that
    accompanies LPS. A high sense of emotional
    involvement and urgency short circuits the
    reasoning process and motivates immediate action
  • A sudden and spontaneous desire to act
    accompanied by urgency
  • State of psychological disequilibrium in which a
    person can feel out of control
  • Onset of conflict and struggle that is resolved
    by immediate action
  • Minimal objective evaluation
  • Lack of regard for consequences

19
Variety Seeking
  • Acivation of seeking variety as a motive
  • Similar alternatives
  • Frequent brand shifts
  • High purchase frequency
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