Essays on Influence of External on Consumer Decision-Making Process Literature review

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The paper "Influence of External on Consumer Decision-Making Process" is an outstanding example of a management literature review. Understanding how consumers make decisions is an integral encounter for markers for sustained successful marketing. There is the realisation that the decision-making process by consumers on when, why, how, and where to purchase or not purchase is a complex undertaking. Different theoretical constructs have been advanced on the consumer decision-making model such as passive, economic, emotional, and cognitive. Despite these propositions, there is wide acceptance that the decision to purchase does not occur in the lacuna, but within a given context.

Hence, it is appreciated purchase decision is influenced by a myriad of internal and external factors. The purpose of this discourse is to investigate the position of external factors in the consumer decision-making process. 2.0 Consumer Behaviour & Decision Making Businesses rely on consumers for their survival. In order to effectively cater to address the needs of consumers and deliver the required value, it is integral to comprehend consumer behaviour and particularly the purchase decision. According to Haghshenas et al. (2013, p. 17), understanding of consumer behaviour is a significant concept owing to the fact that this important in highlighting the how and why consumers purchase or do not purchase a give product or service and the associated mental, physical & emotional process engaged in the purchase of products or services.

In an in-depth view, Yakup & Jablonsk (2012, p. 61) indicates that consumer behaviour is the comprehension of “ when, why, how and where” of buying and not buying a product or the understanding of the processes involved by individuals or group of people in selecting, securing, use & disposal of a product/ services. The instrumental realisation within this domain is the consumer decision process (Haghshenas et al. , 2013, p. 18).

There are numerous models that conceptualises a consumer in terms of how they make decisions. According to Richarme (2001, p. 55-56), these include utility theory that takes presumption that all buyers are rational in their approach; satisficing model and prospect theory that constitutes a combination of the earlier two versions. On the other hand, Kwan (2006, p. 12-16); Arambewela (2003, p. 54) observes that consumer decision making styles can be contextualised within the domains of economic/ rational model, passive, cognitive and emotional model.

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