SPMT 370 EXAM 3 : WALT STUDY GUIDE
5 Stages of the Decision Making Process - Answers -1. Want/Need Recognition
2. Search for Information related to Want/Need
3. Evaluation of Alternatives/Options
4. Choice/Decision
5. Post-Choice and Consumption Evaluation
Extended Decision Making - Answers -consumers move diligently through decision-
making activities in search of information that will help reach a decision (high
involvement, significant risk - going to take us longer to make the decision)
Limited Decision Making - Answers -consumers spend little time searching for
information and often reach decisions based largely on prior beliefs and experiences
(low involvement, low risk)
Habitual (or Routine) Decision Making - Answers -consumers generally do not seek
information at all when a problem is recognized and select a product based on habit
(quick)
Consumer search behavior - Answers -set of behaviors that consumers engage in as
they seek information that can be used to satisfy wants/needs
Pre-purchase search - Answers -search effort aimed at finding information regarding
products which could potentially satisfy a want/need
Ongoing search - Answers -search effort that is not necessarily focused on an
immediate purchase or decision, but rather staying up to date. (Ex: carwash, email list
for deals)
Recall - Answers -searching for information from memory/experience
External search - Answers -the gathering of information from sources external to the
consumer
Common external sources: - Answers -- Significant others (family, friends)
- Retailers- advertising, salespeople, websites
- Online reviews and social media
Source considerations: - Answers -- Ease and speed of obtaining information from the
source
- Objectivity and trustworthiness of the source
5 Stages of the Decision Making Process - Answers -1. Want/Need Recognition
2. Search for Information related to Want/Need
3. Evaluation of Alternatives/Options
4. Choice/Decision
5. Post-Choice and Consumption Evaluation
Extended Decision Making - Answers -consumers move diligently through decision-
making activities in search of information that will help reach a decision (high
involvement, significant risk - going to take us longer to make the decision)
Limited Decision Making - Answers -consumers spend little time searching for
information and often reach decisions based largely on prior beliefs and experiences
(low involvement, low risk)
Habitual (or Routine) Decision Making - Answers -consumers generally do not seek
information at all when a problem is recognized and select a product based on habit
(quick)
Consumer search behavior - Answers -set of behaviors that consumers engage in as
they seek information that can be used to satisfy wants/needs
Pre-purchase search - Answers -search effort aimed at finding information regarding
products which could potentially satisfy a want/need
Ongoing search - Answers -search effort that is not necessarily focused on an
immediate purchase or decision, but rather staying up to date. (Ex: carwash, email list
for deals)
Recall - Answers -searching for information from memory/experience
External search - Answers -the gathering of information from sources external to the
consumer
Common external sources: - Answers -- Significant others (family, friends)
- Retailers- advertising, salespeople, websites
- Online reviews and social media
Source considerations: - Answers -- Ease and speed of obtaining information from the
source
- Objectivity and trustworthiness of the source
