decision making

Topics: Optimal decision, Decision making, Risk Pages: 4 (1047 words) Published: November 26, 2014
Phase 2 Assignment Brief
Consumer Behavior and Holiday
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1. Identify and discuss how holiday decision-making, as described in the case, is different from the traditional problem-solving model of consumer decision-making. In view traditional decision-making, the consumers have been portrayed as ration and risk averse. They often spend much time to research information to solve their problem and have process to decision-making. The research has indicated that decision-making typically entails five steps: Need recognition

Information search
Evaluation of alternatives
Product choice (purchase)
Decision outcomes (post-purchase evaluation)

However, theory and reality there are many differences.
According to traditional standpoint, the decision making of consumers always comply with five steps and sequences (C-A-B). Step 1, the consumers are aware of the demand themselves, from which set a target to achieve needs. Step 2, they search for information from various sources then step 3 leading to consumers choice information in accordance with the needs and preferences, the they make the decision to buy the product in step 4, and re-evaluate their decision reasonable or not in step 5. All consumer behaviour is included in this theory. Yet, theory is always rigid, human psychology is always changing. Therefore, this is correct in theory, realistic still many exception, especially in decision-making of consumers. The steps are done in the order certain, so it is difficult to match the complex psychological processes as well as unexpected situation in life. In this case, decision-making of consumers do not necessarily adhere to specific sequences. This process is often complex and depends on many objective reason and psychological factors. The generic decision about whether or not to go on holiday was not always the starting point, they may be planning a holiday incredibly detailed but the final decision to go or not is a different matter entirely. That is...
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