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Consumer Behavior - The Major Stages Involved In the Consumer Decision-Making Process - Assignment Example

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This paper "Consumer Behavior - The Major Stages Involved In the Consumer Decision-Making Process" focuses on the fact that consumer behaviour is one of the most important subjects especially in the field of marketing. It mainly deals with the study of how people choose to buy a certain product. …
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Consumer Behavior - The Major Stages Involved In the Consumer Decision-Making Process
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CONSUMER BEHAVIOR Using a recent consumer purchase, illustrate the major stages involved in the consumer decision-making process. Consumer behaviour is one of the most important subjects especially in the field of marketing. It mainly deals with the study of how people choose to buy a certain product, what, when and why they buy. In fact it is a multidisciplinary subject that blends elements from psychology, sociology, sociopsychology, anthropology and economics (Wikipedia, 2007). Stages of the Consumer Buying Process In general, for a major purchase there are six stages to the Consumer Buying Decision Process. It is important to realize that the actual purchasing is only one stage of the process and not all decision processes end up in a purchase. Besides it is also important to realize that it is not necessary for all the purchases to follow all the 6 stages. The following are the 6 stages: Stage 1: Problem Recognition or in other words awareness of need-In this stage the consumer realizes the need for a certain product. For example, when a person is hungry, he thinks of eating some thing. Hunger--Food. Hunger stimulates your need to eat. But this kind of thought can easily be stimulated through advertisements. Children are often attracted by the advertisements of ice creams, chocolates and lot of other items. In other words when a person recognizes that there is some deficit in their life, they try to fulfill those needs. When one see a commercial for a new pair of shoes, it stimulates the recognition the need for a new pair of shoes. Stage 2: Information search-Once a person realizes the need for an item, then the second immediate step would be to find out more information about the item. This can be done through internal search, memory, print and visual media, friends and relatives, word of mouth, marketer dominated sources, comparison shopping, public sources etc. A successful information search leaves a buyer with possible alternatives or in other words different brands. For example, when a person is hungry, and wants to go to a restaurant, he has probably a set of restaurants to choose from depending on what kind of food item he likes to have. It can be Chinese food, Indian food, burger king, or klondike kates etc. Stage 3: Evaluation of Alternatives-Once a set of alternatives are present it is time for evaluation of each of them. Hence there is a need to establish criteria for evaluation, features the buyer wants or does not want, in the case of restaurant tastes that the customer likes. The customer based on the criteria for evaluation rank or weight alternatives. If the customer is not satisfied then they resume search. For example, if the customer wants to eat something spicy, then the Indian food gets highest rank. If not satisfied with the choices then return to the search phase to find another restaurant. Look in the yellow pages or internet etc. Information from different sources may be treated differently. Marketers try to influence by "framing" alternatives. Stage 4: Purchase decision-The fourth step is the stage when the final decision is made. Choose buying alternative, includes product, package, store, method of purchase etc. Stage 5: Purchase--May differ from decision, time lapse between stage no 4 and 5, product availability. However, this is one of the most important stages in the process. Stage 6: Post-Purchase Evaluation-This is the stage of outcome that can be either satisfaction or dissatisfaction. For example, if the Indian food was very delicious, the customer will be satisfied but if it was not up to the expectation of the customer, then the customer might be dissatisfied and will be reluctant to go to the same restaurant the next time (udel.edu, N.D.). 2. Two major learning theories have dominated research and teaching in consumer behavior. Outline each theory and provide examples of how advertisers have used each in the promotion of their clients' products and services. Two major learning theories have dominated research and teaching in consumer behavior are Behavioral Learning Theory and Cognitive Theories. Behavioral Learning Theory Marketers use two concepts from behavioral learning theory, i.e, stimulus generalization and stimulus discrimination. "Behavioral learning theory has focused on the role played by environmental events in learning processes, and has taken chance in behavior to be the primary evidence that learning has occurred" (Schwartz & Reisberg, 1991). According to Solomon, behavioral learning theories assume that learning occurs as the result of responses to external events. Psychologists who agree to this viewpoint fail to give due importance to internal thought processes. On the other hand, they approach the mind as a "black box" and emphasize aspects consist of things that go into the box. In simple terms those stimulus, or events perceived from the outside world and things that come out of the box in response, or reactions to these stimulus are emphasized (Solomon, 1992). Three theorists have major contributions to behavioral learning theory and they are Pavlov, who is known for dog salivation experiments, Thorndike, who is known for the law of effect, and Skinner, who developed operant conditioning. Advertisers take the maximum advantage out of this theory. For instance, marketers or advertisers are anxious about how long advertising messages are retained by the customer and how well can repetition have an impact on retention. Repetition has an important role to play in retention of advertising and has been considered the key to the success in advertising. The more repetition or the more frequently the customer gets to watch the advertisement, the greater the depth of the learning and the slower the rate of decay. In other words the knowledge of old established brands is less subject to extinction than knowledge of newer brand. Therefore, a cutback or decrease in advertising for a younger or newer brand would be more detrimental to sales performance (Robertson, et al., 1984). Cognitive Theories This theory is popular since 1960 when psychology has moved away from behaviorism and has welcomed a new branch of study which is called cognitive psychology (Schwartz and Reiberg, 1991). Cognitive theories represent the second major approach to the study of the learning process. In contrast to the stimulus- response theories, cognitive theories do not consider learning as the establishment of a connection between a stimulus and a response. Rather, they argue that learning is considered as a more complex process that utilizes problem-solving and insightful thinking in addition to repetition of a stimulus-response chain (Robertson, et al., 1984). Classical work of Kohler with a caged monkey resulted in the initiation of cognitive learning theory. Bananas were placed outside of the cage, out of monkey's reach, and a stick was placed inside the cage. The monkey had to solve this problem of reaching the bananas by using the stick as a tool. Here learning did not occur as a result of simply associating a stimulus and a response but, insight intervened between goal recognition (i.e. the procurement of food) and goal achievement (Robertson, et al., 1984). Cognitive psychology has been concerned basically with the processes of learning, memory, and thinking. Additionally it has also explored many other domains as well. Problem solving approach is generally utilized. Cognitive psychology is characterized by a willingness to explain observable behaviors by means of complicated but hidden processes (Schwartz and Reiberg, 1991). Cognitive learning occurs as a result of mental processes, for instance the monkey learns to use the stick to procure the banana. Cognitive learning theory stresses the importance of internal mental processes where as in the behavioral learning theory, this is not the case. This perspective views people as problem solvers who actively use information from divergent sources them to master their environment (Solomon, 1992). Cognitive theory give due importance to events that take place within the learner. These theories acknowledge the fact that mental activity in learning and remembering is important. This approach has based on learning as the acquisition of new knowledge, rather than focusing on behavioral change (Schwartz and Reiberg, 1991). In general, marketing is basically concerned with cognitive learning (Runyon, 1977). According to Solomon the application of cognitive learning to marketing is the consumers' abilities to learn vicariously by observing how the behavior of others is reinforced makes the lives of marketers much easier. Since people or consumers do not have to be directly reinforced for their actions, marketers do not necessarily have to reward or punish them for purchase behaviors. In addition, many applications of consumer problem-solving are related to ways information is represented in memory and recalled at a later date (Solomon, 1992). 3. Evaluate the effectiveness of using celebrity endorsements and other reference group appeals in consumer advertising. A main goal of advertising is the influencing the customers, i.e., the active attempt to change or modify consumers' attitude towards brands. In this aspect, the credibility of an advertisement plays an important role in convincing the target audience of the attractiveness of the company's brand. Advertisements without celebrities are becoming rare and celebrity endorsement has become a prevalent form of advertising: studies conducted by researchers say that 20% of all TV commercials feature a famous person (Sam 1996). These studies have also studied the impact of celebrity endorsement on the viewers' perception of the endorsed brand (Petty, et. al 1983; Kamins et al 1989; Mc-Cracken 1989). Several billions of dollars are spent per year on celebrity endorsement. Contracts with celebrities like Liz Hurley, Britney Spears and Tiger Woods, show that these people play an important role for the advertising industry (Daneshvary and Schwer 2000, Kambitsis et al. 2002). Famous tennis player and Wimbledon championship winner in 2002 Venus Williams, for example, has signed a five-year $40 million contract with sportswear manufacturer Reebok International Inc. Studies provide enough prove that the use of Hollywood and sports stars in advertising generates a lot of publicity and attention from the public (Ohanian 1991). Such an endorsement strategy enables advertisers to project a credible image in terms of expertise, persuasiveness, trustworthiness, and objectiveness (Till & Shimp 1998). A reference group is "one or more people that someone uses as a basis for comparison or point of reference in forming affective and cognitive responses and performing behaviors" (Olson & Peter, 1996). In other words, a reference group is a sociological concept particularly used to evaluate and determine the nature of a given individual or other group's characteristics and sociological attributes. Reference groups provide the benchmarks and contrast required for comparison and evaluation of a group or personal characteristics (Thompson and Hickey, 2005). In the field of advertisement, a reference-group appeal influences or controls a consumer's actions, values and behavior. There by influencing him/her to follow the group's norms and trends. A good example of reference group is the advertisement of Charms cigarette of yesteryear and Pepsi are reference group-based emotional contrast. Fun, play and romance are some of the oft-used emotional bases for such appeals. It is important to note that marketers need to be careful to avoid any misleading information while using such reference group appeals, and it is in this context that creative synthesis of emotional contrast establishes effective communication with the target group (Kumar and Shekar, 2005). Hence, it can be concluded that reference groups have high influence on brand choice in some situations. In addition, those products that have little to no distinguishable advantages over competitive products, with the understanding of reference group influences can be leveraged to separate their product from the pack and create a demand in the market. 4. Discuss the difficulties marketers face in measuring motivations and then explain the strategies they might use to help motivate consumers to buy their products or services. While it is important to measure the motivation of customers towards a product it is also important to understand the strategies used behind motivating customers. However it is not easy to measure the motivation of people and the problems linked with measuring highly abstract patterns of consumer behaviors have been documented since work into motivation research developed in the 1950s. From then on reservations about the reliability of psychological measuring techniques were expressed and practitioners were warned against over-reliance on their accuracy (Britt, 1954; 1955). Researchers were not able to strike a balance between objective performance factors and subjective emotional factors underlying a consumer's purchase decision. For instance, the individual may be reluctant to convey the true reasons for a particular purchase out of a fear that he may expose himself in an unfavorable manner. Take for example if a customer purchased an expensive item without paying tax, he/she may hide the facts. For some of the purchases they may give reasons which seem to be socially acceptable (Engel, 1961) Today, with the increase in competition, it becomes even more important to measure motivation. Such kind of measuring may also help in improving brands based on the requirement of customer. There are several theories proposed by various researchers. For instance, the Means-end chain theory, was developed in the late 1970s and early 1980s, could not logically progress without a measurement methodology which could lodge both concrete and abstract dimensions and in 1984. Reynolds and Gutman projected that laddering theory, an extension of the repertory grid analysis developed by Kelly in the 1950s, presented a productive framework for developing an appropriate interviewing and analysis methodology. An in-depth, one-on-one interviewing technique used to develop an understanding of how consumers translate the attributes of products into meaningful associations with respect to self, following Means-End Theory and was defined as laddering (Gutman, 1982). Laddering involves a tailored interviewing format using basically a series of directed probes, typified by the "why is that important to you" question, with the express goal of decisive sets of linkages between the key perceptual elements across the range of attributes (A), consequences (C) and values (V). (Reynolds & Gutman, 1988). Decision-Making Strategies For each product, one of the most important aspects for success for marketers is the need to understand the specific decision-making strategy utilized by each consumer segment buying that product. Once this is done, it becomes easy for the marketers to position their product in such a manner that the decision-making strategy leads consumers to select their product. There are seven such strategies developed to motivate the decision making process. The first two strategies are called compensatory strategies. Consumers allow a higher value of one attribute to compensate for a lesser value of another attribute. For instance, if a consumer is looking to buy a car or any other automobile, a high value in gas mileage might compensate for a lower value in seating space. In other words, each of the attribute has different value for different customers. The attributes might have equal weight (EQUAL WEIGHT STRATEGY) or have different weights for the attributes (WEIGHTED ADDITIVE STRATEGY). The next three strategies are called non-compensatory strategies. In these strategies, each attribute of a specific product is evaluated irrespective of the other attributes, and though a product may have a very high value on one attribute, if it fails another attribute, it disqualifies and is eliminated from consideration. From Simon, the first of these is SATISFICING, in which the first product evaluated to meet cutoff values for all attributes is selected, even if it is not the best among the lot. The second of these strategies is called ELIMINATION BY ASPECTS. It sets a cutoff value for the most important attribute, and allows all competing products that meet that cutoff value to go to the next attribute and its cutoff value. The third strategy is called LEXICOGRAPHIC, which evaluates the most important attribute, and if a product is evidently superior to others, stops the decision process and selects that product; otherwise, it continues to the next most important attribute. The next two strategies are called partially compensatory strategies, in that strategies are evaluated against each other in serial fashion and higher values for attributes are considered. The first of these strategies is called MAJORITY OF CONFORMING DIMENSIONS, in which the first two competing products are evaluated across all attributes, and the one that has higher values across more dimensions, or attributes, is selected. Once a product is selected it is then compared or evaluated against the next competitor, and the one that has higher values across more dimensions is again retained. The second partially compensatory strategy is called FREQUENCY OF GOOD AND BAD FEATURES, in which all products are simultaneously compared to the cutoff values for each of their relevant attributes, and the product that has the most "good" features that exceed the cutoff values is finally selected. Though there are other strategies these are the basic seven (Richarme, 2002). 5. Discuss the role of heuristics and consumers' market beliefs in individual decision-making. Consumers are never completely rational in making decisions. This can be explained as a completely rational individual would cautiously examine every product available in the market and all of its features and all of the features of every other substitute for each product before taking a purchase decision. However, even if the customer wish to do so it is impossible for a couple of reasons. First reason is that individuals have limited mental resources and also have limited free time. In fact people have very less time in their busy schedule to look into each and every minute detail. This is an advantage for marketers, as they may use these facts to create a marketing environment. In the decision making process, there are two main types of mental processing an individual can do to reach a decision about a problem at hand. The first type of processing is called systematic processing and the second called the heuristic processing. Systematic type of processing involves in depth analysis and securitization of all stimuli in the environment. i.e. each and every aspect is carefully examined before a purchase which will also include the persuasive arguments of the marketer. On the other hand the heuristic processing, involves taking mental short-cuts or "rules-of thumb" to come to a customer purchase decision. A very accepted heuristic that many people often take is the "like-agree" heuristic that leads people to make the same decision as people that they like did. One very famous example of marketers trying to get consumers to use this heuristic is putting famous people in their advertisements (ccat.sas.upenn.edu, N.D.). It is well established fact that consumer beliefs in general influence purchasing behavior. Advertisments also paly important role in developing such beliefs. Hence it is essential for consumer products that support or reinforce underlying consumer beliefs, marketers need to focus on activating favorable behavior. On the other hand if attributes of the product do not align with underlying consumer beliefs, marketers face the more difficult challenge of first reshaping beliefs before having any reasonable prospect of influencing subsequent or future behavior (Wigder, 2006). 6. "You can never be too thin or too rich". Discuss these assertions with respect to consumer behavior theory. The lateral meaning of the assertion "You can never be too thin or too rich" is nothing but if you are a rich person, it will be shown or visible in the way you purchase items. The neoclassical theory of consumer behavior makes strong assumptions about the informational and computational bases of consumer behavior. The main assumption is that consumer behavior is logically characterized as the maximization of expected lifetime utility subject to a financial constraint and conditional on the available information. In other words, consumer behavior can be characterized as the result of a discounted dynamic programming problem. In economic terms, this approach has many attractions: it meshes well with traditional notions of economic rationality, it is theoretically tractable at least in its standard formulations, and it gives rise to predictions that are readily testable. Unfortunately, the available empirical evidence over and over again conflicts with these predictions (Graham and Isaac, 1988). It is a fact that the way in which the rich and the poor make decision on a purchase is quite different. However both are based on the financial terms. Concepts such as motivation and personality; perception; learning; values, beliefs and attitudes; and lifestyle are all useful for interpreting buying processes and directing marketing efforts. There are two marketing theories that can be used to explain this. The first marketing theory is called Consideration. In this theory, consumers form a subset of brands from which the decision-making strategies are applied. For example, if asked to list all the restaurants that one could recall, the list might be quite extensive for most consumers. On the other, when a consumer first addresses the question of where to dine that evening, a short list of restaurants that are frequently considered is utilized for the decision-making process. Multistage decision-making models were summarized by Allan Shocker, in which the increasing difficulty of a decision produces more steps in the decision process. In real sense, more cognitive effort would be expended in evaluating members of the consideration set and reducing that number to an eventual choice. The second most important marketing theory is called Involvement, in which the amount of cognitive effort applied to the decision-making process is directly linked to the level of importance that the consumer places on purchase of the specific product. For example, there is rarely a significant amount of decision-making applied to the selection of a pack of chocolates at the store checkout counter, but there is a much greater amount of decision-making effort applied to the purchase of a new cell phone or a digital camera or a computer. This degree of involvement is not necessarily a function of the price, but is more related to the perceived impact on the quality of life of the consumer. The quality of life can come straight from the benefits supplied by the product, or can come indirectly from the social accolades or sanctions provided by members of the peer group (Richarme, 2002). 7. The managers of a local pizza outlet have asked you to explain how the concept of segmentation might help them promote their store. What would you tell them Segmentation plays an important and direct role in effectively reaching the consumers. In addition, this will create customer satisfaction and an increase in turnover. However it is important to note that this process is different from targeting and positioning. It enables and makes sure the understanding of consumer behavior and response with appropriate marketing strategies. The changes happening in the patterns of human behavior determine the formation of segmentation policy especially for the food industry companies. Because of ever-increasing role of segmentation procedures in strategic marketing decisions, it is necessary to take adequate methodological approach (Szwacka, 2005). Today, in the world of high competition especially among the restaurants, this industry is segmented in many ways and it is important to learn in depth about this segmentation. In fact this industry is segmented by price, or service style, or menu product category. There are low price restaurants, self-serve, full-serve, and hamburger or chicken offerings. Pizza is one segment of the industry, which crosses all of these other lines. If a customer wants to buy pizza, it can be purchased from a low priced hotel or a high priced restaurant. Pizza is served by the slice from a single operator by huge multi-national corporations, and in gourmet five-star full service restaurants. It is the strategies that help the restaurants to sell pizza. One of the decision elements for consumers, especially for pizza restaurants, encompasses the quality elements. Consumers look for the level of food quality and service that satisfies their needs. Apparently, everyone wants the highest quality for his or her money, but defining the "highest" level of quality again is a personal decision and is dependent on many other factors. Some restaurant offerings are sold only on the idea that they offer the "best quality" in town, others might offer the best table service or quickest delivery times or sometimes even home delivery. A second essential decision element is the convenience, which may occasionally be in conflict with quality. Often this is not in the hands of the restaurant, but it mainly depended on the customer. We can define convenience in this particular instance as ease of use, with minimal constraints on consumer freedom or from external interference. Restaurants that are more convenient may be closer to a customer's home, there may be many more restaurant units in a market area to choose from, or the restaurant purchase processes may represent less complication when used. Here again the strategy to be used is to develop a good customer relation and arrange for easy home delivery system. Price is the third most important element. Many customers select restaurant offerings only on low price, where as some may look at a high price as a sign that the restaurant offers more exclusivity or offers considerably better selection or may even consider that the quality may be good. It is rarely possible that a restaurant compete on the dimension of high quality and low price, so most consumers naturally know that they will get good quality at high price. Age factor is another aspect of segmentation of customers. Children have different choice when compared to elders. It is important to consider these issues. All restaurants compete on the dimension of time. In today's rapidly paced world, restaurants represent time saved as a substitute for meal preparation at home. Every time a consumer calls a restaurant for an advanced reservation or for delivery, time is a significant factor in the purchase decision. These are some of the important factors that a restaurant managers need to keep in mind. 8. Explain why marketers measure attitude and behavioral intentions, then evaluate the predictive power of each of these cognitive variables. Marketers measure attitude and behavioral intentions because it can help them develop more effective marketing programs to affect consumers' purchase intentions under different situations. The study of consumers mainly helps firms and organizations improve their marketing strategies by understanding issues such as how the psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products). It also enables to understand the psychology of how the consumer is influenced by his or her environment such as culture, family, signs, media. What are the factors that have an impact on the behavior of consumers while shopping or making other marketing decisions. Limitations in consumer knowledge or information processing abilities can also have an influence on the decisions and marketing outcome. Understanding these strategies also help to determine how consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and how marketers can adapt and improve their marketing campaigns and marketing strategies to more efficiently reach the consumer. Understanding these issues helps the organizations create more space for consumer attraction. For example, as mentioned earlier, repetition helps in retaining more information. Essentially consumers will sometimes be convinced more by logical arguments, but at other times will be convinced more by emotional appeals. By understanding the consumer, it becomes easy to make a more informed decision as to which strategy to employ. The most noticeable is for marketing strategy-i.e., for making better marketing campaigns and advertisements. For example, by understanding that consumers are more receptive to food advertising when they are hungry, the timing such as schedule snack advertisements late in the afternoon can be a good promotional tactic. By understanding that new products are generally initially adopted by a few consumers and only spread later, and then only gradually, to the rest of the population, it can be understood that companies that introduce new products must be well financed so that they can stay afloat until their products become a commercial success and secondly it is important to please initial customers and give them some added benefits, since through word of mouth they will in turn influence many subsequent customers' brand choices (Perner, N.D.). Finally, the study of consumer behavior should make us better consumers. A good understanding in this subject will not only help in the better promotional activities but also lead to better customer satisfaction. Customers will be happy if they get good quality product at reasonable price and they themselves will promote the products through word of mouth. It is important to understand that the most important way of promotion is word of mouth. It is because people believe in personal experiences more than believing in advertisements. Hence a good customer understanding and service means better sales. References Britt, Stuart Henderson (1954), Why Its Best to Use Combination Research, Printer's Ink, October, 60B66. Britt, Stuart Henderson (1955), Four Hazards of Motivation Research: How to Avoid Them, Printer's Ink, June, 40B48. ccat.sas.upenn.edu, (N.D.) Decision Making, Retrived on 23 May 2007 from http://ccat.sas.upenn.edu/sstumpf/cbdecisionmaking.html Daneshvary, Rennae and R. Keith Schwer (2000), The Association Endorsement and Consumers' Intention to Purchase, Journal of Consumer Marketing, 17 (3), 203-213. Engel, J.H. (1961), Motivation Research B Magic or Menace Michigan Business Review, 13 (March), 28B32. Gutman, Jonathan (1982), A Means-End Chain Model based on Consumer Categorization Processes, Journal of Marketing, 46 2 60B72. Graham, F. and Isaac, A.G. (1988) The Behavioral Life-Cycle Theory Of Consumer Behavior: Survey Evidence, Journal of Economic Behavior and Organization Retrived on 23 May 2007 from http://www.american.edu/cas/econ/faculty/isaac/wp/jebo2986.graham_isaac.pdf Kamins, Michael A., Meribeth J. Brand, Stuwart A. Hoeke, and John C. Moe (1989), Two-Sided Versus One-Sided Celebrity Endorsements: The Impact on Advertising Effectiveness and Credibility, Journal of Advertising, 18 (2), 4-10. Kambitsis, Chris, Yvonne Harahousou, Nicholas Theodorakis, and Giannis Chatzibeis (2002), Sports Advertising in Print Media: The Case of 2000 Olympic Games, Corporate Communications: An International Journal, 7 (3), 155-161. Kumar, R.S. and Shekar, B. (2005). The power of contrast, The Hindu Business Line, Retrived on 23 May 2007 from http://www.thehindubusinessline.com/catalyst/2005/03/31/stories/2005033100140300.htm McCracken, Grant (1989), Who is the Celebrity Endorser Cultural Foundations of the Endorsement Process, Journal of Consumer Research, 16 (December), 310-321. Olson, J.C. & Peter, J.P. (1996) Consumer Behavior and Marketing Stategy, 4th Edition. Irwin Publishers. Ohanian, Roobina (1991), The Impact of Celebrity Spokespersons' Perceived Image on Consumers' Intention to Purchase, Journal of Advertising Research, 31 (1), 46-53. Petty, Richard E., John T. Cacioppo, and David Schumann (1983), "Central and Periphisal Routes to Advertising Effectiveness: The Moderating Role of Involvement," Journal of Consumer Research, 10 (September), 135-46. Perner, L. (N.D.) Consumer Behavior and Marketing Strategy, Retrived on 23 May 2007 from http://www.consumerpsychologist.com/ Reynolds, Thomas J. and Jonathan Gutman (1988), Laddering Theory, Method, Analysis and Interpretation, Journal of Advertising Research, February/March, 11B31. Richarme, M. (2002) Consumer Decision-Making Models, Strategies, and Theories, Oh My! Decision Analyst, Inc., Retrived on 23 May 2007 from http://www.decisionanalyst.com/publ_art/DecisionMaking.asp Robertson, Thomas S., Zielinski, Joan, and Ward, Scott (1984), Consumer Behavior, Glenview, Illinois: Scott, Foresman and Company. Runyon, Kenneth E. (1977), Consumer Behavior and the Practice of Marketing, Columbus, Ohio: Charles E. Merrill Publishing Company. Schwartz, B., & Reisberg, D. (1991), Learning and Memory, New York: W. W. Norton and Company. Solomon, Michael R. (1992), Consumer Behavior: Buying, Having, and Being, Boston, MA: Simon & Schuster, Inc. Sam, Bradly (1996), marketers always look for good pichers, Brandweek, Feb. 26 1996. Szwacka, J. (2005) Concept Of Segmentation Strategies Of Food Industry Companies In Poland, Electronic Journal of Polish Agricultural Universities, Economics, Volume 8, Issue 4. Retrived on 23 May 2007 from http://www.ejpau.media.pl/volume8/issue4/art-81.html Thompson, William; Joseph Hickey (2005). Society in Focus. Boston, MA: Pearson. 0-205-41365-X. Till, Brian D. and Michael Busler (1998), Matching Products with Endorsers: Attractiveness versus Expertise, Journal of Consumer Marketing, 15 (6), 576-586. udel.edu, (N.D.) Chapter 6: What is Consumer Buying Behavior Retrived on 23 May 2007 from http://www.udel.edu/alex/chapt6.html Wigder, D. (2006) Beliefs Influence Green Behavior: Lessons from Guatemala, Retrived on 23 May 2007 from http://blog.futurelab.net/2006/07/beliefs_influence_green_behavi.html Wikipedia, (2007) Consumer behaviour, Wikimedia Foundation, Inc., Retrived on 23 May 2007 from http://en.wikipedia.org/wiki/Consumer_behaviour Read More
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According to Just (2013), they have gone ahead and proposed the use of heuristic decision-making rules that have proved to be effective in related decision-making problems like financial decision making.... he consumer will be more comfortable with behavioural intervention than price intervention, despite their inability to know the impact of their own behaviour.... This paper will, therefore, focus on three major areas in food consumption decision making in relation to behavioural economics....
15 Pages (3750 words) Research Paper

Buyer Decision-Making Process in Relation to Purchase of a New Car

"Buyer decision-making process in Relation to Purchase of a New Car" paper argues that marketers should offer information to complex buyers, offer discounts, after-sale communication, and lower prices to dissonance reducing buyers and offer discounts to be habitual buyers of their brand.... The following sections examine the consumer's behavior, decision-making process, and marketing recommendations for this niche of consumers (ConsumerFactor, 2014).... hellip; Once the need is identified, the consumer then seeks information on the available resolutions to his problem....
8 Pages (2000 words) Coursework
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