Bài giảng Consumer Behavior 8e - Chapter 7: Individual decision making - Hoàng Đức Bình
Chapter 7
Individual Decision Making
CONSUMER
BEHAVIOR, 8e
Michael Solomon
Chapter Objectives
When you finish this chapter you should understand
why:
• Consumer decision making is a central part of
consumer behavior, but the way we evaluate and
choose products (and the amount of thought we put
into these choices) varies widely, depending upon
such dimensions as the degree of novelty or risk in
the decision.
• A decision is actually composed of a series of
stages that results in the selection of one product
over competing options.
• Our access to online sources is changing the way
we decide what to buy.
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Chapter Objectives (cont.)
• Decision making is not always rational.
• Consumers rely upon different decision rules when
evaluating competing options.
• We often fall back on well learned “rules-of-thumb”
to make decisions.
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Consumers as Problem Solvers
• Consumer purchase = response to problem
• After realization that we want to make a
purchase, we go through a series of steps in
order to make it
• Can seem automatic or like a full-time job
• Complicated by consumer hyperchoice
• Decision-making process
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Quicktime video on General
Electric and consumer shopping
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Decision-Making Process
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Figure 9.1
Decision-Making Perspectives
• Rational perspective: consumers:
• Integrate as much information as possible with
what they already know about a product
• Weigh pluses and minuses of each alternative
• Arrive at a satisfactory decision
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Decision-Making Perspectives (cont.)
• Other models of decision making:
• Purchase momentum: occurs when consumers
buy beyond needs satisfaction
• Behavioral influence perspective: consumers buy
based on environmental cues, such as a sale
• Experiential perspective: consumers buy based
on totality of product’s appeal
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Continuum of Buying Decision Behavior
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Figure 9.2
Types of Consumer Decisions
• Extended problem solving:
• Initiated by a motive that is central to self-concept
• Consumer feels that eventual decision carries a
fair degree of risk
• Limited problem solving:
• Buyers not as motivated to search for information
or to evaluate rigorously
• Buyers use simple decision rules to choose
• Habitual decision making:
• Choices made with little to no conscious effort
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Stage 1: Problem Recognition
Occurs when consumer sees difference between
current state and ideal state
• Need recognition: actual state moves downward
• Opportunity recognition: ideal state moves upward
Marketers can create:
• Primary demand: encourage consumers to use
product category
• Secondary demand: persuade consumers to use
specific brand
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Problem Recognition: Shifts in Actual or
Ideal States
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Figure 9.3
Stage 2: Information Search
• Information search: process by which consumer surveys the
environment for appropriate data to make reasonable decision
Prepurchase versus Ongoing Search
Prepurchase Search
Ongoing Search
Determinants Involvement with
purchase
Involvement with product
Motives
Making better purchase Building a bank of
decisions
information for future use
Outcomes
Better purchase
decisions
Increased impulse buying
Hoang Duc Binh, 2008
Table 9.2
Internal versus External Search
• Internal search
• Scanning memory to assemble product
alternative information
• External search
• Obtaining information from ads, retailers,
catalogs, friends, family, people-watching, Web
sites
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Deliberate versus “Accidental” Search
• Directed learning: existing
product knowledge obtained
from previous information
search or experience of
alternatives
• Incidental learning: mere
Click photo for
Consumerreports.org
exposure over time to
conditioned stimuli and
observations of others
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The Economics of Information
• Consumers will gather as much data as needed to
make informed decisions
• We will collect most valuable information first
• Variety seeking: desire to choose new alternatives
over more familiar ones
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Do Consumers Always Search Rationally?
• Some consumers avoid external search, especially
with minimal time to do so and with durable goods
(e.g. autos)
• Symbolic items require more external search
• Brand switching: we select familiar brands when
decision situation is ambiguous
• Variety seeking: desire to choose new alternatives
over more familiar ones
Hoang Duc Binh, 2008
Biases in Decision-Making Process
• Mental accounting: framing a problem in terms of
gains/losses influences our decisions
• Sunk-cost fallacy: We are reluctant to waste
something we have paid for
• Lost aversion: we emphasize our lost more than gain
• Prospect theory: risk differs when consumer faces
options involving gains versus those involving
losses
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Ad Age Poll: Importance of Brand
Attributes
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Figure 9.4
Amount of Information Search and
Product Knowledge
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Figure 9.5
Perceived Risk
• Perceived risk: belief that
product has negative
consequences
• Expensive, complex, hard-to-
understand products
• Product choice is visible to
others (risk of embarrassment
for wrong choice)
• Risks can be objective (physical
danger) and subjective (social
embarrassment)
Hoang Duc Binh, 2008
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