PROBLEM SOLVING APPROACH ON CONSUMER DECISION ANALYSIS
PROBLEM SOLVING APPROACH ON CONSUMER DECISION ANALYSIS
Author(s): Alexander Valkov, Lilyana StanchevaSubject(s): Politics / Political Sciences, Politics, Economy, Sociology, Health and medicine and law, Marketing / Advertising, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: consumer choice; consumer decision; rational decisions; problem solving
Summary/Abstract: This study proposes an approach to analyse the consumption of goods provided within the socio-cultural process (social sphere). Based on the study of individual social and economic characteristics of goods, the traditional approach is not sufficient for the management of production and consumption processes. An alternative model is argued, in which the process of consumer decision-making takes center stage. When consumption is recognised as a problem-solving process, the underlying structural-functional relationships of consumption can be modelled and analysed in their entirety. The theoretical verification of the model is based on a compatibility study with rational motivations in behavior, and uncertainty and risk in consumption.
Journal: Journal of Management Sciences and Applications (JOMSA)
- Issue Year: 2/2023
- Issue No: 1
- Page Range: 5-21
- Page Count: 17
- Language: English