Home | Darpan | Volume 3 | Issue 3 July-Sep 2010 | Presentation on Consumer Decision Making

Presentation on Consumer Decision Making

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Prof. Vidushi Sharma Prof. Vidushi Sharma

Types of Decision Making, routinized response behavior/ habitual buying behavior,etc was explained and discussed in the presentation

On 28th July, 2010, Prof. Vidushi Sharma gave a presentation on Consumer Decision Making. She included Types of Decision Making, routinized response behavior/ habitual buying behavior, low cost, frequent purchasing, clear preference for brand, limited problem solving/ dissonance reducing buying behavior, new brand in known product class, moderate information search and time in choosing. She explained Firms Marketing Efforts (Product, Price, Place, Promotion), Socio-Cultural Environment (Family, Social classes, Culture and Sub-culture, Informal sources). She focused on Need Recognition- Two types of problem recognition , Actual state type of problem Motivational Arousal, Desired state type of problem, Satisfaction optimization: leisure and entertainment, Satisfaction maintenance: maintain status quo), Prevention of possible future problem, Problem avoidance, Conflict resolution, Information Search, Evaluation Criteria, Appropriate alternatives, Alternative characteristics, External Search, Perceived value v/s perceived cost, individual factors, Cognitive Dissonance, Strategies to reduce dissonance

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