Management and Organizational Studies 1021A/B Lecture 7: MOS week 7

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Maria Ferraro

Document Summary

Mos week 7: introduction to consumer decision making. Problem recognition: perceiving a need: 2. info search: seeking value, 3. evaluation of alternatives: assessing value, 4. Routine or habitual problem solving: low involvement purchases with little effort spent seeking external information and evaluating few alternatives: 2. Limited problem solving: moderate involvement purchases with some time spent on information search and evaluating several alternatives: 3. Extended problem solving: high involvement purchases with signi cant time and effort spent on information search and evaluating many alternatives. Problem- solving variations routine problem solving limited problem solving extended problem solving several several moderate few little many many many many considerable. Characteristics of purchase decision process number of brands examined number of sellers considered number of products attributes evaluated number of external information sources used one few one none time spent searching minimal. Heuristics and purchase decisions: heuristics can shorten the distance between problem/needs recognition and a purchase.