EBK MARKETING
10th Edition
ISBN: 9780135209783
Author: Stuart
Publisher: YUZU
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Question
Chapter 6, Problem 2QA
Summary Introduction
To determine: The concept of habitual decision making, extended problem solving and limited problem solving along with the role of perceived risk in the decision making process.
Introduction:
Habitual Decision Making: If the product is now not important for the client and they buy with a little or no effort, it is being said that the customer is performing habitual decision making. Extended trouble fixing happens when shoppers make very necessary selections and go via a range of steps in making a decision.
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Explain the DECISION TREES?
What are examples of the economic, passive, cognitive, and emotional models of consumer decision making.
Explain the rational decision making process, the role of Evidence-Based Management and how decision making is affected by bounded rationality?
Chapter 6 Solutions
EBK MARKETING
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Similar questions
- What is Consumer Decision Making? Explain with an example?arrow_forwardConsumer behavior models provide important insights about consumer decision making process. But as you all know that the consumer behavior is very dynamic and keeps on evolving, the explanation provided by these models is limited in nature and cannot explain all the factors influencing the behavior. The panic caused by Covid-19 pandemic cannot be accounted for by any model and this will result in behavioral shift of consumers." a. Do you agree with this statement? Discuss with help of any consumer decision model of your choice. b. What elements would you like to introduce in the model of your choice to account for covid-19 driven panic and the highly probable behavioral shift?arrow_forwardYour consumer has made decisions on multiple purchases before. As the need arise for a winter jacket, list the steps in the decision-making process and provide an example relevant to your consumer for each step.arrow_forward
- Explain what is a decision making unit and how does it vary by purchase situation?arrow_forwardThink of a purchase you recently made. Describe what you did and what happened at each stage of the Consumer Decision Making Process, from Problem Recognition to Post-Purchase evaluation. What were the most important influences in making your purchase decision? What aspects of marketing and/or consumer behavior do those represent? Was your decision making most closely representative of extended problem solving, limited problem solving, or habitual decision making? Do you think it's possible that other consumers might use a different type of decision making when making the same purchase? Explain.arrow_forwardWhat determines if a consumer uses an extended decision making (cognitive) process? What would be an example of this type of consumer decision situation? What kind of consumer decisions are most frequently used? Discuss marketing implications for habitual decisions vs, Cognitive decisions?arrow_forward
- Justify why that decision model is appropriate to the problemarrow_forwardWhat is meant by bounded rationality?arrow_forwardName the types of consumer decision-makingprocesses. List some products you have bought usingeach type. Have you ever bought a product on impulse?If so, describe the circumstances.arrow_forward
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