Consumer decision making

Question 1

What are the three types of decision making?

Answer 1

Cognitive, habitual, affective

Question 2

What is cognitive decision-making?

Answer 2

• Traditionally, consumer researchers approached decision-making from an information-processing perspective, i.e. a rational perspective.
• According to this view, people calmly and carefully integrate as much information as possible with what they already know about a product, painstakingly weigh the pluses and minuses of each alternative, and arrive at a satisfactory decision
• The economics of information perspective assumes that we collect just as much data as we need to make an informed decision.
• We form expectations of the value of additional information and continue to search to the extent that the rewards of doing so (what economists call the utility) exceed the costs.

Question 3

What is habitual decision-making?

Answer 3

• A habitual purchase is one of habit. It is behavioral, unconscious, and automatic. There is low consumer involvement. If bread, milk, and eggs are a staple on your grocery list you will purchase them frequently with not much regard.

Question 4

What is affective decision-making?

Answer 4

• Affective purchases are emotional and instantaneous. A consumer could pass an ice cream store, they could associate ice cream with happiness, and purchase a cone to fulfill that emotion.

Question 5

Which type of decision making does a consumer have to go through before using the DRS?

Answer 5

I would argue that there is an element of both cognitive, habitual and affective. Cognitive – thinking about where to deposit, switching your mind to sort the bottles, habitual – after the first couple of times it becomes a habit and you don’t think about it, affective – thinking about the environment awakes emotions