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CONSUMER AND BUSINESS DECISION MAKING - Coggle Diagram
CONSUMER AND BUSINESS DECISION MAKING
Consumer behavior
Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use
Consumer behavior
HOW
Consumers make purchase decisions
Consumers use and
dispose of product
Consumer Decision-Making Process
Evaluation of Alternatives
Purchase
Information Search
Post purchase Behavior
Need Recognition
Need Recognition
Result of an imbalance between actual and desired states.
Evoked Set
Group of brands, resulting from an information search, from which a buyer can choose
Marketing
Determines which attributes are most important in influencing a consumer’s choice
Five Factors Influencing Decisions
Cost of good or sevice
Degree of information search
Lenght of time to make decision
Number of alternatives considered
Level of consumer involved
Factors Influencing Buying Decisions
social factors
cultural factors
individuals factors
psychological factors