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Ch 3: Consumers & the Decision Making Process

About This Chapter

If you need to review the consumer decision-making process for an exam, class assignment or homework, check out this mobile-friendly marketing chapter. These fun lessons and quizzes can be accessed whenever you have free time to study.

Consumers & the Decision Making Process - Chapter Summary

In this self-paced marketing chapter, you'll review the consumer decision-making process, as well as different types of consumer decisions and buying behaviors. These bite-sized lessons also cover related concepts, such as rational choice theory, behavioral economics and time discounting. Each lesson is taught by an expert marketing instructor who uses a simplified and engaging teaching style. Additionally, the chapter comes with plenty of self-assessment quizzes that go over essential marketing terms and concepts. When you're finished working through the chapter, you'll be equipped to:

  • Compare types of consumer decisions
  • Assess the relationship between marketing and buying behavior
  • Explain the functions of reference groups in marketing
  • Summarize the consumer decision-making process
  • Explain marketing's rational choice theory
  • Define the concept of time discounting
  • Evaluate the applications of behavioral economics

7 Lessons in Chapter 3: Consumers & the Decision Making Process
Test your knowledge with a 30-question chapter practice test
Consumer Decisions: Types, Overview

1. Consumer Decisions: Types, Overview

How consumers make decisions is a primary interest to all businesses. In this lesson, you'll learn about different types of consumer decision-making. You'll also have a chance to take a short quiz after the lesson.

Buying Behavior and Marketing: Types of Consumer Buying Decisions

2. Buying Behavior and Marketing: Types of Consumer Buying Decisions

Marketers must consider how consumers decide to buy their product. Consumers use nominal, limited, and extended decision making. Watch this video to learn more about the different types of consumer decisions.

Reference Groups in Marketing: Definition, Types & Examples

3. Reference Groups in Marketing: Definition, Types & Examples

Have you ever wanted to be like Mike? In this lesson, you'll learn about reference groups and their importance in marketing. You'll also have a chance to take a short quiz after the lesson.

Understanding the Consumer Decision-Making Process: A Marketing Must

4. Understanding the Consumer Decision-Making Process: A Marketing Must

In this lesson, you'll see how a consumer moves through a decision making process in order to purchase a product or service. Learn what methods marketers use to take advantage of this process.

Rational Choice Theory in Marketing

5. Rational Choice Theory in Marketing

Do consumers make purchases based on rational thought or on emotion? Or is it a combination of both? In this lesson we'll discuss rational choice theory as it applies to marketing and examine how marketers try to influence consumer behavior.

Time Discounting: Definition & Example

6. Time Discounting: Definition & Example

It's been said that a dollar today is worth more than a dollar tomorrow. However, in some cases, waiting can sometimes be more beneficial. This lesson will discuss the concept of time discounting and how it can be applied.

Behavioral Economics: Definition & Applications

7. Behavioral Economics: Definition & Applications

While most of us try to make good decisions, sometimes we are tempted to act on an impulse. In this lesson, we'll learn about a type of economics that studies why we don't always make the decisions that are most beneficial to us.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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