Elements of Extended versus limited problem-solving in purchase decisions:
The extended and limited purchase process in relation to different product types.
Principle:
The purchase decision will range on a continuum from low to high level risk (financial, social or psychological) and will vary in terms of the amount of time devoted to the information search and the number of brand alternatives considered.
Issues:
Primarily concerned with understanding how we make purchase decisions
In order to choose between alternatives the buyer must search for relevant information and then evaluate and compare the various options in order to reach the best decision.
Applications:
To analyse or illustrate the problem-solving continuum facing consumers
Source of Extended versus limited problem-solving in purchase decisions:
Blackwell (2005)