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Consumer Behavior: Decision Making Process
Challenged with competing products, companies are finding it more important to understand why a consumer would choose one product over another. To do this, the company needs to recognise the complex decision making process a consumer goes through. The variety of products is always expanding, but with the consumers' limited temporal and cognitive resources, they cannot simply analyse all the products.
As Jon Elster (1989) points out, making rational choices does not only require access to options, but also the necessary time and information needed to choose.
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