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Individual Decision Making

Individual Decision Making. Winter 2007. The Decision Making Model: I bet you’ve seen this one before. Need Recognition Information Search Evaluation of Alternatives Product Choice Outcomes. Not All Decisions are Resolved Equally. All Manifestations of Involvement Matter

Jimmy
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Individual Decision Making

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  1. Individual Decision Making Winter 2007

  2. The Decision Making Model: I bet you’ve seen this one before • Need Recognition • Information Search • Evaluation of Alternatives • Product Choice • Outcomes

  3. Not All Decisions are Resolved Equally • All Manifestations of Involvement Matter • Extended Problem Solving • Limited Problem Solving • Habitual Decision Making

  4. Problem Recognition • Opportunity Recognition: Do you remember expectancy theory? • Need recognition

  5. Shopping Motivations: Gift Giving Otnes Et Al.

  6. Gift Giving Perspectives • Gift giving as economic exchange • Social interaction is viewed as an exchange of mutually rewarding activities in which the receipt of a needed valuable is contingent on the supply of a favor in return, usually immediately

  7. "I view money and dating as an investment. You want to get marginal return on the dollar." (M-25) • "He stated that monetary gifts are quite often used as "fiscal foreplay." (M-30)

  8. Gift Giving Perspectives • Gift giving as social exchange • Social exchange establishes qualitative relations between subjects. Social exchange creates a bond of goodwill and social indebtedness between people

  9. Gift Giving Perspectives • Agapic Love • The boundless giving of oneself

  10. The Pleaser • "I value you enough to get you something that I think you would enjoy.“ • For the easy • Buy what they want • Treasure hunt • Homemade gifts • For the difficult: • Latch on • Same as last year • Buy what I like

  11. The Provider • Gifts should be practical • “I’ve bought them so much already. Like underwear and socks that I’ve bought since last Christmas - you know, when I catch them on sale. And I put them in a closet

  12. The Compensator • “Because my mom passed away a few years ago...I buy him, you know, new T-shirts and wash rags and things he doesn’t go out and buy. So I buy those things a little at a time...I always like to make sure that Dad’s got plenty to open too, so he doesn’t feel left out.”

  13. The Socializer • “Ever since she’s been tiny, for Christmas or her birthday, I’ll get her a fun gift, and then there will also be a book. When she was real little, it was illustrated Alice in Wonderland. When she was 13, she got Our Bodies, Ourselves...you know, just something that seems age appropriate. And now it’s time for her to read this feminist manifesto.”

  14. The Acknowledger • Obligatory gift selection for those who are on the fringes of social networks or were close relatives with whom givers were experiencing difficulties • Impulse • Relationship affirming • Make • Joint Recipients • Lateral Cycling

  15. The Avoider • “I’m not happy with my sister right now. She ain’t getting shit.”

  16. Information Search • Internal and then… • Deliberate or incidental • Rational • Risk: monetary, functional, physical, social, psychological • Mental accounting/framing • How is the tax refund spent?

  17. Information Search • Product Class Knowledge • Product Specific Knowledge

  18. Evaluative Criteria • Salient Attributes • Determinant Attributes • Cybermediaries: Cameras

  19. Evaluating Alternatives • Evoked Set • Compensatory models: remember Fishbein? • Non-Compensatory • Lexicographic (most important first) • Elimination by aspects (cut-off most important attribute) • No score lower than a “4” • Conjunctive (cut-off by brand) • No brand with any salient attribute under “3”

  20. Evaluating Alternatives • Heuristics: shortcuts • cheapest, made in USA, etc. • Product Signal

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