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CONSUMER DECISION MAKING

19 October 2011

What Is a Decision?

 

Every day, each of us makes numerous decisions concerning every aspect of our daily lives. However, we generally make these decisions without stopping to think about how we make them and what is involved in the particular decision-making process itself. In the most general terms, a decision is the selection of an option from two or more alternative choices. In other words, for a person to make a decision, a choice of alternatives must be available. When a person has a choice between mak­ing a purchase and not making a purchase, a choice between brand X and brand Y, or a choice of spending time doing A or B, that person is in a position to make a decision. On the other hand, if the consumer has no alternatives from which to choose and is literally forced to make a particular purchase or take a particular action (e.g., use a prescribed medication), then this single "no-choice" instance does not constitute a decision; such a no-choice decision is commonly referred to-as a "Hobson's choice."

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