Consumer Behavior - Decision Making

Consumer Behavior - Decision Making

1. A Theory of Buyer Behavior: 4 components: 1) Stimulus variables, 2) hypotetical constructs, 3) output variables, 4) exogenous variables. Decision starts with motivation (Howards & Sheth, 1964)

2. Consumer expertise 5 dimensions: 1) cognitive effort, 2)cognitive structure, 3) analysis selective encoding, 4) elaboration, and 5)memory. (Alba & Hutchinson, 1987)

3. Non-choice may be chosen when none of the alternatives appear attractive. (Dhar, 1997)

4. Consumers do not always have well-defined existing preferences, but construct them on the spot. (Bettman, Luce & Payne, 1998)

5. Hyperchoice is initially more enjoyable (and difficult) but ultimately leads to lower satisfaction, and more regret. (Mick, Broniarczyk, & Haidt, 2004)

6. Somatic markets are emotion related changes in the physical state (sweat, goosebumps, heart rate) which assist cognitive processes in decision making by marking alternatives as advantageous or disadvantageous. (Reimann & Bechara, 2010)