MGMC02H3 Chapter Notes - Chapter 011: Ebay, Free Free, Confirmation Bias
Document Summary
Post decision dissonance is a feeling of anxiety over whether the correct decision was made. To reduce dissonance, search for additional information selective because you try to make chosen alternative more attractive and reject less attractive. Post decision regret is a feeling that one should have purchased another option (unfavorable comparison of performance chosen to ones not) you can regret even if you have no information about unchosen alternatives. To reduce regret, learn from decision to improve future decisions, break major decision into smaller decisions to reduce regret of overall decision. Typical idea of direct control of company by marketing communications however, low credibility, consumers assume messages are intended to persuade them to buy offering and is skeptical about marketing claims. Experiencing event is more involving and interesting than being told about it (consumer has more control over what happens). Experience is more vivid and therefore easier to remember than other types of information.
