How Do Consumers Make Choices? A Survey of Evidence
11 Pages Posted: 7 Aug 2012
Date Written: September 2012
In this paper, we review the evidence about the purchase behaviour of consumers. We concentrate on the characteristics of the choice process, choice of the external information source and nature of the information obtained from these sources. The impact of important systematic differences among consumers and products on choice behaviour is also discussed.
Keywords: Consumer choice, Consumer experience, Information, Information processing
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