消费者决策理论 Theories of Consumer Decision Making

s and supplier because of the intangibility of product, and supplier reputation. Together with Ansoff's model and focus existing product and existing market marketers can increase buyer behaviour through target marketing. Outcome suggests that companies must emphasize on the elements that impinge on the buyer's behaviour together with decision making. Learning can be deployed to evaluate individual response which has been proved by examples in the literature. Significantly, the end result suggests that learning can be use as communication and interaction tactic to view individual response especially financial products.

Table of contents

1.0 Introduction
Business success can be obtained through the appropriate study of consumer behavior. Consumer buying behavior is a multi step process, which involves buying, paying, using and reconsidering the same product over again. To understand the buying pattern or actions is very imperative as it directly influence the business success. As mentioned by Caslione, John A, (2009) the marketing strategies must meet consumer preferences in recession time in order to gain competitive edge. Most commonly buying activities reflects the strategy use by the companies for marketing and fulfilling the market needs. So consumers are considers to be the entry and exit to a successful business. To understand the consumer's decision making it is important to understand the cognitive factors affecting their needs, choice, preference and final and post purchase experience or learning (5 W's of marketing).

Research done on buyer behavior helps to understand the deciding process in two ways i.e. collectively and individually. Both individual and collective buying process is affected by other factors like demographics, environment and perception. (Foxall, Gordon R, 1987) mentioned through the behavioral research companies can forecast the buying frequency and product preferences. Theory of Consumer behaviour and decision making
The decision making theory was examined and modified by Nicholas Bernoulli and Oskar Morgenstern but it originate about 300 years ago. The theory was based on the expectation of decision outcomes which was a cognitive process. Later the theory was modified with the addition of value and satisfaction. In addition Allen Shocker explains the complexity and steps which involve in decision making. (Michael Richarme, 2005) Degree of involvement is another important factor while looking and making decision. Researchers also proved that the marketing activities have huge impact on consumer's psychology which helps to take decision. Consumer behaviour is a psychological function which involves the customer to undergo the identification of their needs, searching methods to fulfill the needs and make purchase decisions accordingly. The process can also be described as collecting, interpreting, making plans and executing it for successfully buying the desired product (Lars Perner, 2008). The behavioral approach of the consumer is highly dominated by their psychology. The first model of consumer decision of making process was developed in 1963 by Howard and later edited in 1969 which has become the current "theory of consumer behavior". The updated model provides an integration among the several psychological, social, and market pressure on the buyer's choice and info