Buyer decision process

Nobel laureate Herbert A. Simon sees economic decision-making as a vain attempt to be rational.

Consumers are influenced by emotional and nonrational considerations making attempts to be rational only partially successful.

[3] Even if the buyer decision process was highly rational, the required product information and/or knowledge[4] is often substantially limited in quality or extent,[5][6] as is the availability of potential alternatives.

[10] Later studies expanded upon Dewey's initial work and are seen as foundational for analysis of consumer purchasing decision-making.

[13] The time and effort devoted to each stage depend on a number of factors including the perceived risk and the consumer's motivations.

The information search stage is the next step that the customers may take after they have recognized the problem or need in order to find out what they feel is the best solution.

[citation needed] Consumers can rely on print, visual, and/or voice media for getting information.

At this stage, consumers evaluate different products/brands on the basis of varying product attributes, and whether these can deliver the benefits that the customers are seeking.

Secondly, the decision may be disrupted due to unanticipated situations such as a sudden job loss or the closing of a retail store.

If brand loyalty is made then customers will often fast-tracked or skip completely the information search and evaluation of alternative stages.

[16] Also, cognitive dissonance (consumer confusion in marketing terms) is common at this stage; customers often go through the feelings of post-purchase psychological tension or anxiety.

in which only one behavioral determinant was allowed in a stimulus-response type of relationship; the multi-variate model (He called it a "reduced form scheme".)

Some neuromarketing research papers examined how to approach motivation as indexed by electroencephalographic (EEG) asymmetry over the prefrontal cortex predicts purchase decision when brand and price are varied.

[17] For any high-involvement product category, the decision-making time is normally long and buyers generally evaluate the information available very cautiously.