Decision Theory: Theory About Decisions

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1.0 INTRODUCTION Decision theory is theory about decisions. The subject is not a very unified one. To the contrary, there are many different ways to theorize about decisions, and therefore also many different research traditions. This text attempts to reflect some of the diversity of the subject. Its emphasis lies on the less (mathematically) technical aspects of decision theory. To evaluate Decision Theory, I have reviewed three articles about “Youth/ college students’ online buying/shopping decision.” Based on the study, I have found the factors influencing the buying/shopping decision among the youth/college students and youth/ college students’ preference on online retail products. The factors influencing the online shopping decision…show more content…
Sales promotion includes tools for consumer promotion that is samples, coupons, cash refund offers, prices off, premiums, prizes, patronage rewards, free trials, warranties, tie-in promotions, and cross promotions. The next factor is comparison. In the context of the online shopping, some customers compare the price, promotion, and services offered of the products or services they are intending to shop from the online stores. Then, the next factor is convenience. E-retailing is promoted widely as a convenient avenue for shopping. Consumers do not have to leave their home nor travel to find and obtain merchandise online. They can also browse for items by category or online store. Customer service also become the factor influencing the online shopping decision among youth or college students is promotions. Customer service includes answers to frequently asked questions, credit, return, and payment policies. The next factor is perceived ease of use. Perceived ease of use, refers to the degree to which a person believed that using a particular system would be free of effort. Then, the next factor is attitude. Consumer attitude towards online purchasing is defined as the extent to which a consumer makes a positive or negative evaluation about purchasing…show more content…
Majority of respondents shop online but still the respondents think the reason of not shopping online is due to inability to touch and see the product physically while shopping It has been found that internet literacy has significant relationship on online purchase, thus proper care should be taken to promote internet literacy so as to promote online shopping. From the study, it was found that online product price listing has significant impact on online purchase. Thus, if online shopping is to be promoted then online price listing should be less compared to traditional market price listing. The online retailers need to provide more competitive price and variety of product to attract customers and encourage them to make purchase decision. It has also been found that website usability has no significant impact on online shopping, which means that ease of use of website has no impact on whosoever is internet literate and who shop online. Another finding was that there is no significant relationship between online shopping and educational qualification which means that qualification has no impact on online shopping where online shopping has significant relationship with gender. Hence e shopping companies should be distinct in addressing the needs of both male as well as female shoppers while promoting
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