COMM 354 Study Guide - Final Guide: Disposable And Discretionary Income, Discman, Silent Generation
Document Summary
Limited problem solving more straightforward/simple purchases, low levels of perceived risk, consumers use simple decision rules to choose among alternatives, rules of thumb. Extended problem solving high involvement, purchase decision is perceived as high risk, consumer collects extensive information, careful evaluation of brand attributes. Need recognition running out of a product, buy a deficient product, new need. Internal search scanning memory to assemble product alternative information. External search obtaining information from ads, retailers, catalogues, friends and family, people watching, consumer reports, etc. Moderately knowledgeable consumers tend to search more than product experts and novices, experts engage in selective search while novices focus on others" opinions, non-functional attributes, and top down processing. Perceived risk belief that purchase of a product has potential negative consequences, expensive/complex/difficult to understand products, choice is visible to others. Subjective risk social, psychological: evaluation of alternatives. Inept set alternatives aware of but not considering. Inert set all others: product choice.
