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Extended and Limited Decision Making

CG

Calvin Gan

Transcript

Factors Affecting Decision making process

Forms of decision making methods

  • Level of information search
  • Degree of prior experience
  • Amount of perceived risk (importance)
  • Time pressure
  • Frequency of purchase
  • Price range of purchased product

Consumer Decision Process

High <--- Consumer Involvement spectrum --> Low

Examples

  • Choosing a university

  • Buying a car

  • Getting a new house

  • A new phone

Extended Decision Making

Extended decision making

Limited decision making

Habitual decision making

  • High Degree of Involvement

  • Usually expensive products

  • Many brands and different sellers are considered before purchased

  • Long time spend on the decision of purchasing

Extended and Limited Decision Making

Examples

  • Buying new clothes

  • Choosing some candy

  • Books to buy

  • Picking new video games

Limited Decision Making

Consumer Decision Making Process

  • Mid to low level of involvement

  • Low to moderately priced products

  • Few brands are evaluated before purchased

  • Moderate amount of time spent on making a decision

1 . Problem recognition

2. Information search

3. Information evaluation

4. Purchase decision

5. Post Purchase Behavior

Q & A session

Reference List

  • Hawkins, D., & Mothersbaugh, D. (2012). Consumer Behavior: Building Marketing Strategy (12th ed.). Boston, MA: McGraw-Hill Irwin

  • Winer, R., & Dhar, R. (2010). Marketing Management (4th ed.). New Jersey, US: Prentice Hall

  • Kotler, P. & Keller, K.L. (2015). Framework of Marketing Management (6th ed.). New Jersey, US: Prentice Hall

  • Ling, X. & Yang, J.B. (2001). Introduction to Multi-Criteria Decision Making and the Evidential Reasoning Approach (Working Paper 0106). Manchester, UK: University of Manchester Institute of Science and Tecnology, School of Management.

  • www.youtube.com/watch?v=ud00Xa3tth4&spfreload=10

Extended & Limited decision making

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