3 Questions
What is consumer behaviour?
The actions of obtaining, using and disposing products
What is the role of psychology in decision making?
To provide an effective decision-making strategy
What is the basis of gut – intuition decision-making?
Simple and easy-to-use rules
Study Notes
- Consumer behaviour refers to the actions of obtaining, using and disposing products.
- There are a number of factors that influence consumer behaviour, including economic, personal and psychological factors.
- The role of psychology in decision making is significant, as is the use of decision making philosophies.
- Heuristics are a type of consumer behaviour, and are based on intuitive rules of thumb.
- Going with gut – intuition – is an effective decision-making strategy, but it is also based on simple and easy-to-use rules. It is effective because it is easy to follow and does not require a lot of data or cognitive ability.
Explore the various factors that influence consumer behaviour, along with the significant role of psychology in decision making and the use of intuitive decision-making philosophies like heuristics. Learn about the effectiveness of gut intuition in decision making and its reliance on simple rules.
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