|
Consideration Set
Consideration set is a model used in consumer behaviour to represent all of the brands and products a consumer evaluates before making a final purchase decision. The term consideration set was first used in 1977 by Peter Wright and Fredrick Barbour. The consideration set is a subset of the awareness set, which is all of the brands and products a consumer initially thinks of when faced with a purchasing decision. The awareness set is filtered into the consideration set through the consumer's individual thoughts, preferences, and feelings – such as price, mood, previous experiences, and heuristics. Conversely, products that do not meet the criteria for the consideration set are either placed into the inert set or the inept set. These sets are fluid and the products in each set can change rapidly when the consumer is presented with new information. Set hierarchy and theory Consider the universal set, U, to be the set of all products and brands which will satisfy a given need. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Behaviour
Consumer behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics (especially behavioural economics). The study of consumer behaviour formally investigates individual qualities such as demographics, personality lifestyles, and behavioural variables (such as usage rates, usage occasion, loyalty, brand advocacy, and willingness to provide referrals), in an attempt to understand people's wants and consumption patterns. Consumer behaviour also investigates on the influences on the consumer, from soci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subset
In mathematics, set ''A'' is a subset of a set ''B'' if all elements of ''A'' are also elements of ''B''; ''B'' is then a superset of ''A''. It is possible for ''A'' and ''B'' to be equal; if they are unequal, then ''A'' is a proper subset of ''B''. The relationship of one set being a subset of another is called inclusion (or sometimes containment). ''A'' is a subset of ''B'' may also be expressed as ''B'' includes (or contains) ''A'' or ''A'' is included (or contained) in ''B''. A ''k''-subset is a subset with ''k'' elements. The subset relation defines a partial order on sets. In fact, the subsets of a given set form a Boolean algebra under the subset relation, in which the join and meet are given by intersection and union, and the subset relation itself is the Boolean inclusion relation. Definition If ''A'' and ''B'' are sets and every element of ''A'' is also an element of ''B'', then: :*''A'' is a subset of ''B'', denoted by A \subseteq B, or equivalently, :* ''B'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heuristic (psychology)
Heuristics is the process by which humans use mental short cuts to arrive at decisions. Heuristics are simple strategies that humans, animals, organizations, and even machines use to quickly form judgments, make decisions, and find solutions to complex problems. Often this involves focusing on the most relevant aspects of a problem or situation to formulate a solution. While heuristic processes are used to find the answers and solutions that are ''most'' likely to work or be correct, they are not always right or the most accurate. Judgments and decisions based on heuristics are simply good enough to satisfy a pressing need in situations of uncertainty, where information is incomplete. In that sense they can differ from answers given by logic and probability. The economist and cognitive psychologist Herbert A. Simon introduced the concept of heuristics in the 1950s, suggesting there were limitations to rational decision making. In the 1970s, psychologists Amos Tversky and Daniel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Universal Set
In set theory, a universal set is a set which contains all objects, including itself. In set theory as usually formulated, it can be proven in multiple ways that a universal set does not exist. However, some non-standard variants of set theory include a universal set. Reasons for nonexistence Many set theories do not allow for the existence of a universal set. There are several different arguments for its non-existence, based on different choices of axioms for set theory. Regularity In Zermelo–Fraenkel set theory, the axiom of regularity and axiom of pairing prevent any set from containing itself. For any set A, the set \ (constructed using pairing) necessarily contains an element disjoint from \, by regularity. Because its only element is A, it must be the case that A is disjoint from \, and therefore that A does not contain itself. Because a universal set would necessarily contain itself, it cannot exist under these axioms. Russell's paradox Russell's paradox prevents the ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long-term Memory
Long-term memory (LTM) is the stage of the Atkinson–Shiffrin memory model in which informative knowledge is held indefinitely. It is defined in contrast to short-term and working memory, which persist for only about 18 to 30 seconds. Long-term memory is commonly labelled as explicit memory ( declarative), as well as episodic memory, semantic memory, autobiographical memory, and implicit memory ( procedural memory). Dual-store memory model According to Miller, whose paper in 1956 popularized the theory of the "magic number seven", short-term memory is limited to a certain number of chunks of information, while long-term memory has a limitless store. Atkinson–Shiffrin memory model According to the dual store memory model proposed by Richard C. Atkinson and Richard Shiffrin in 1968, memories can reside in the short-term "buffer" for a limited time while they are simultaneously strengthening their associations in long-term memory. When items are first presented, they enter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
E-commerce
E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry. Defining e-commerce The term was coined and first employed by Dr. Robert Jacobson, Principal Consultant to the California State Assembly's Utilities & Commerce Committee, in the title and text of California's Electronic Commerce Act, carried by the late Committee Chairwoman Gwen Moore (D-L.A.) and enacted in 1984. E-commerce typically uses the web for at least a part of a transaction's life cycle although it may also use other tech ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Psychology
Psychology is the scientific study of mind and behavior. Psychology includes the study of conscious and unconscious phenomena, including feelings and thoughts. It is an academic discipline of immense scope, crossing the boundaries between the natural and social sciences. Psychologists seek an understanding of the emergent properties of brains, linking the discipline to neuroscience. As social scientists, psychologists aim to understand the behavior of individuals and groups.Fernald LD (2008)''Psychology: Six perspectives'' (pp.12–15). Thousand Oaks, CA: Sage Publications.Hockenbury & Hockenbury. Psychology. Worth Publishers, 2010. Ψ (''psi''), the first letter of the Greek word ''psyche'' from which the term psychology is derived (see below), is commonly associated with the science. A professional practitioner or researcher involved in the discipline is called a psychologist. Some psychologists can also be classified as behavioral or cognitive scientists. Some psychol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cognitive Load
In cognitive psychology, cognitive load refers to the amount of working memory resources used. There are three types of cognitive load: ''intrinsic'' cognitive load is the effort associated with a specific topic; ''extraneous'' cognitive load refers to the way information or tasks are presented to a learner; and ''germane'' cognitive load refers to the work put into creating a permanent store of knowledge (a schema). Cognitive load theory was developed in the late 1980s out of a study of problem solving by John Sweller. Sweller argued that instructional design can be used to reduce cognitive load in learners. Much later, other researchers developed a way to measure perceived mental effort which is indicative of cognitive load. Task-invoked pupillary response is a reliable and sensitive measurement of cognitive load that is directly related to working memory. Information may only be stored in long term memory after first being attended to, and processed by, working memory. Worki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision-making
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action. Research about decision-making is also published under the label problem solving, particularly in European psychological research. Overview Decision-making can be regarded as a problem-solving activity yielding a solution deemed to be optimal, or at least satisfactory. It is therefore a process which can be more or less rational or irrational and can be based on explicit or tacit knowledge and beliefs. Tacit knowledge is often used to fill the gaps in complex decision-making processes. Usually, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Overload
Information overload (also known as infobesity, infoxication, information anxiety, and information explosion) is the difficulty in understanding an issue and effectively making decisions when one has too much information (TMI) about that issue, and is generally associated with the excessive quantity of daily information. The term "information overload" was first used as early as 1962 by scholars in management and information studies, including in Bertram Gross' 1964 book, ''The Managing of Organizations,'' and was further popularized by Alvin Toffler in his bestselling 1970 book '' Future Shock.'' Speier et al. (1999) said that if input exceeds the processing capacity, information overload occurs, which is likely to reduce the quality of the decisions. In a newer definition, Roetzel (2019) focuses on time and resources aspects. He states that when a decision-maker is given many sets of information, such as complexity, amount, and contradiction, the quality of its decision is de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Google
Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, artificial intelligence, and Computer hardware, consumer electronics. It has been referred to as "the most powerful company in the world" and one of the world's List of most valuable brands, most valuable brands due to its market dominance, data collection, and technological advantages in the area of artificial intelligence. Its parent company Alphabet Inc., Alphabet is considered one of the Big Tech, Big Five American information technology companies, alongside Amazon (company), Amazon, Apple Inc., Apple, Meta Platforms, Meta, and Microsoft. Google was founded on September 4, 1998, by Larry Page and Sergey Brin while they were Doctor of Philosophy, PhD students at Stanford University in California. Together they own about 14% of its publicl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
_Galeries_Royales_St_Hurbert%2C_Brussels.jpg "Click for more on -> Consumer Behaviour")
