* Second, products sold in exclusive may be perceived by consumers as having higher quality. Third, offering -products by nonstore methods, such as on the Internet or in catalogs, can create consumer perceptions that the products are innovative, exclusive, or tailored for specific target markets. Social Influences on Consumer Decision Making * Situational influences can be defined as all those factors particular to a time and place of observation that have a demonstrable and systematic effect on current behavior. 5 types: 1. Physical features: location, decor, sounds, aromas, lighting, weather, and visible configurations 2. Social features: Other persons present, their characteristics, their apparent roles and interpersonal interactions. Situational Influences on Consumer Decision Making * 3. Time: e.g. time since last purchase, time since or until meals or paydays, and time constraints. 4. Task features: intent or requirement. e.g. shopping for a small appliance as a wedding gift for a friend is in a different situation than when shopping for a small appliance for personal use 5. Current conditions: These are momentary moods (such as acute anxiety, pleasantness, hostility, and excitation) or momentary conditions (such as cash on hand, fatigue, and illness) rather than chronic individual traits. Situational Influences on Consumer Decision Making * Psychological factors influence how this information is interpreted and used and how it impacts the consumer -decision-making process. Two most important psychological factors: product knowledge and product involvement. Psychological Influences on Consumer Decision Making * Product knowledge refers to the amount of information a consumer has stored in her or his memory about particular product classes, product forms, brands, models, and ways to purchase them. The initial level of product knowledge may influence how much information is sought when deciding to make a purchase. Product knowledge inf
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