Understanding Consumer Decision Making

In 2 words, how are you feeling today?

What is the first step in the consumer decision-making process?

• Information search

• Evaluation of alternatives

• Purchase decision

• Problem recognition

How does problem recognition influence consumer behavior?

• Problem recognition only affects brand loyalty, not purchasing decisions.

• Consumers are always aware of their needs without problem recognition.

• Problem recognition drives consumers to seek solutions, influencing their purchasing decisions.

• Problem recognition has no effect on consumer behavior.

What are some common triggers for problem recognition?

• Increased advertising budgets

• Changes in consumer needs, dissatisfaction with current products, new information or technology, competitive actions, and external factors.

• Higher product prices

• Longer product warranties

What role does internal information play in the information search stage?

• Internal information only confuses the search process.

• Internal information is only useful after the search stage.

• Internal information is irrelevant during the search stage.

• Internal information helps evaluate and filter new information during the search stage.

What is the difference between internal and external information search?

• Internal information search uses personal knowledge; external information search uses outside sources.

• Internal search relies on social media; external search relies on personal experience.

• Internal search is only for businesses; external search is for personal use.

• Internal information search is faster than external search; external search is more reliable.

How do consumers evaluate the credibility of information sources?

• Consumers rely solely on personal opinions.

• Consumers trust all information from social media.

• Consumers evaluate credibility based on authority, accuracy, objectivity, timeliness, relevance, corroboration, and presentation quality.

• Credibility is determined by the length of the source.

What factors influence the evaluation of alternatives?

• Color preferences

• Weather conditions

• Time of day

• Personal preferences, perceived value, available information, risk assessment, social influences, and decision context.

What is the importance of attributes in evaluating alternatives?

• Attributes only complicate the evaluation process.

• Attributes are solely based on personal preferences.

• Attributes help in systematically comparing alternatives, leading to informed decision-making.

• Attributes are irrelevant in decision-making.

How do consumers prioritize their criteria when evaluating alternatives?

• Consumers prioritize criteria based on importance, relevance, and personal preferences.

• Consumers prioritize criteria based on price alone.

• Consumers always choose the first option they see.

• Consumers ignore personal preferences when evaluating alternatives.