1. Decision-Making I: Need Recognition & Search Chapter 11

2. Consumer Decision-Making Process Need Recognition Information Search Evaluation of Alternatives Choice Postpurchase evaluation

3. Decision-Making Can be influenced by: Can be influenced by: Choice Choice Value Value Motivation Motivation Emotion Emotion

4. Decision-Making Perspectives Rational Decision-Making Rational Decision-Making Consumers think logically Consumers think logically Experiential Decision-Making Experiential Decision-Making FeelDoThink FeelDoThink Behavioral Influence Decision-Making Behavioral Influence Decision-Making Environmental influences Environmental influences

5. Decision-Making Approaches Depends upon: Depends upon: Involvement Involvement Perceived risk Perceived risk Financial Financial Social Social Performance Performance Physical Physical Time Time

6. Decision-Making Approaches Three types: Three types: Extended decision-making Extended decision-making Information sources Information sources Types of products Types of products Limited decision-making Limited decision-making Prior beliefs Prior beliefs Habitual decision-making Habitual decision-making AKA Routine AKA Nominal AKA Routine AKA Nominal Brand loyalty Brand loyalty Brand inertia Brand inertia Effects of brand loyalty Effects of brand loyalty

7. Step 1: Problem Recognition Compare actual v. ideal state Compare actual v. ideal state What if they are equal? What if they are equal?

8. Step 2: Information Search Search behavior Search behavior Behaviors that consumers engage in as they seek information that can be used to resolve a problem Behaviors that consumers engage in as they seek information that can be used to resolve a problem Ongoing searches Ongoing searches Prepurchase search Prepurchase search Information overload Information overload

9. Universal Set Awareness Set Unawareness Set Consideration Set Inept Set Inert Set

10. Step 2: Information Search Internal Search Internal Search External Search External Search Evaluative criteria Evaluative criteria Price? Price? Quality? Quality?

11. Step 2: Information Search How long to search? How long to search? Product experience Product experience Involvement Involvement Perceived risk Perceived risk Value of search efforts Value of search efforts Time availability Time availability Shopping attitude Shopping attitude Personal factors Personal factors Situational influencers Situational influencers

12. Step 2: Information Search Search Regret Search Regret