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What is Consumer Decision Making? Explain with an example?
Step by step
Solved in 2 steps
- What are examples of the economic, passive, cognitive, and emotional models of consumer decision making.Why is consumer behaviour of relevance in doing business? Illustrate with 2 real-life examples.Why is consumer’s mind considered as black box when marketing companies study consumers decision making?
- Discuss the statement “Marketers don’t create needs; need preexist marketers.” Can marketing effort change consumers needs? Why or why not? Can they arouse consumer’s needs? If yes, how?Compare and contrast the economic, passive, cognitive, and emotional models of consumer decision making. Provide an example for each.How can Marketing managers create wants on the part of the consumer? Explain with an example?