• The Extent of Information Search: The extent to which an individual conducts
an external search depends on his or her:
o Perceived risk – As the perceived risk of the purchase increases, the
consumer enlarges the search and considers more alternative brands.
o Prior experience – Consumers who have had a positive experience with a
product are more likely to limit their search to items related to the
positive experience.
o Level of interest in the good or service – A consumer who is more interested
• Searching yields an evoked set (consideration set), which is a group of
brands resulting from an information search from which a buyer can choose.
f. Evaluation of Alternatives and Purchase: The third stage in the decision-
making process is the evaluation of alternatives, and the fourth stage is making
the purchase. A consumer will use the information stored in memory and
obtained from outside sources to develop a set of criteria. The environment,
internal information, and external information help consumers evaluate and
compare alternatives. Different ways consumers can evaluate products include
the following:
• Narrow the number of choices in the evoked set by picking a product
g. The evaluation process is not always rational. Sometimes, companies may nudge
the consumer. A nudge is a small intervention that can change a person’s
behavior.
Example: If computer analytics identifies your smartphone while you are in an