Managing for Peak Performance: retailer preference and consumer decision making
- Publication Type:
- Conference Proceeding
- 29th ANZAM Conference 2015, 2015, 29th Conference
- Issue Date:
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The purpose of this paper is to investigate the order of the consumer’s consideration set formation. The research study focused on the participants’ main concerns in their decision-making, and how they tried to resolve them. This study suggests that decision risk was reduced by the home-improvement consumers forming consideration sets populated in part or in whole by retailer brands as an experiential short-cut. The data demonstrates that trust, perceived risk, involvement and brand are the antecedents’ to this formation. Brands are seen by the home improvement consumer as a bundle of attributes with the ability to deliver problem solving benefits. Brand loyalty is the proxy in the decision process. The use of this proxy as a heuristic reduced the perceived risk.
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