Consumer Motivation & Decision Making

Consumer Motivation & Decision Making

1. Types of decision making

   • Solomon (2015)- Counteractive Construal- Exaggerate negative impacts of behaviours that interfere with ultimate goals
   • Cognitive- deliberate and rational
   • Habitual- behavioural and unconscious
   • Affective- emotional

2. Consumer Involvement

   • Soloman (2015)- Our motivation to achieve a goal increases our desire to gain products or services we believe will satisfy it
   • Intertia- Make decisions based on habit because we lack the motivation to consider alternatives.
   • Soloman (2015)- A persons perceived relevance of an object based on needs, values and interests

3. Types of Involvement

   • Product Involvement- Consumers level of interest in a product. Decisions based highly on if the consumer believes their is a perceived risk.
   • Message Involvement- Influence media outlets have on consumers
   • Situational Involvement/ Experiential Involvement- location where people consumer a product/ service eg store.

4. Types of perceived risk

   • Monetary risk- Capital consists of money and property. Eg High priced items
   • Functional Risk- Capital consists of different ways of performance eg exclusive commitment.
   • Physical risk- involves most vulnerable eg drugs or medical equipment
   • Social risk- Self esteem and self confidence eg socially visible goods clothes jewellery
   • Psychological risk- involving status eg personal luxuries

5. Cognitive Decision Making

   • Soloman (2015)- Collect information about a product, weigh up costs and benefits and arrive at a decision.
   • 1- Problem Recognition
     • When consumer sees the difference between current state and ideal state
   • 2- Information Search
     • Find data to make a decision
     • Cybermediaries help filter options available
   • 3- Evaluation of alternatives
     • Evoked Set- Alternatives consumer knows about
     • Consideration Set- Ones being considered
   • 4- Product of choice

6. Habitual Decision Making

   • Soloman (2015)- Rules of thumb to make decisions, little effort
   • Biases
     • Covariation
     • Country of Origin
     • Familiar brand names
     • Higher prices
   • Heuristics- mental shortcuts

7. Affective Decision Making

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