| By: |
Rajagopal (Monterrey Institute of Technology & Higher Education ITESM , Mexico City) |
| Abstract: |
The variety-seeking behavior and the brand choice among the consumers have
been discussed extensively in the previous research contributions from the
stochastic point of view. This study argues that although consumers are
seeking novelty and unexpectedness in a brand that they have not bought
before, their purchase will be selective, in reference to the empirical
investigation. The study has been conducted in Mexican retail business
environment with a focus to explore the tendency of decision making of
consumers towards buying unfamiliar brands in considering the importance of
brand name. The discussions in the paper have been woven around the issues of
perceived risk, perceived brand difference, association of brand name and
customer values as major influencing factors in making buying decisions
towards unfamiliar brands. The study reveals that the perceptions on brand
name in reference to brand risk and brand differences have been the prime
factors in making buying decision for new brands among the consumers.
Consumers also ascertain the brand name associated with the unfamiliar brands
as they feel high risk averse and entangle in decision making with perceived
brand differences. |
| Keywords: |
Cognitive behavior, personality traits, brand loyalty, brand perceptions, decision making, customer value |
| JEL: |
D11 D12 D81 M20 M31 |
| Date: |
2005–10–04 |
| URL: |
http://d.repec.org/n?u=RePEc:wpa:wuwpmi:0510002&r=mkt |