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Consumer Purchase Decision Models: A Revıew Of Financial Services Context

Table 1:

Variables EKB Model 1982 EBM Model 1986 EBM Model 1995 EBM Model 2001
Components (i) Input(ii) Information processing(iii) Consumer decision process (iv) External influences (i) Input(ii) Information processing(iii) Consumer decision process and(iv) Variables influencing the decision process (i) Input(ii) Information processing(iii) Consumer decision process; and(iv) Variables influencing the decision process (i) Information input (ii) Information processing (iii) Decision process stage(iv) Decision process variables, (v) External influences
Variables Influencing decision process Influences shown independently in two different components of model (decision process variables and external influences) Three component-variables influencing decision process:individual characteristics; social influences; and situational influences (i) Environmental influences: Situation, culture(ii) Individual differences: Consumer resources and combining of personality values and lifestyle (i) Environmental Influences: Culture, social class, family, personal influences, and situation.(ii) Individual Differences: Consumer knowledge, personality, values and lifestyle
Internal Search Included in memory Shown individually Treated as distinctly Presented separately
Decision Process Component Indicated as choice Indicated as purchase Indicated as purchase Specified as purchase
Outcome of Purchase (i) Dissonance. feedback to external search only, no feedback to beliefs, (ii) satisfactionfeedback to beliefs Effects shown as (i) Satisfaction and (ii) Dissatisfaction.Both feedings back to consumer beliefs (i) Dissatisfaction feeding back to external search (ii) Divestment (iii) Satisfaction providing feedback to pre-purchase evaluation (i) Dissatisfaction feeding back to external search (ii) Divestment (iii) Satisfaction providing feedback to pre-purchase evaluation
Motives Shown separately Individual characteristics. Apart of variables influencing decision process components Individual characteristics. Apart of variables influencing decision process components Combined with involvement under consumer individual differences
Lifestyle & Personality Shown separately Included with individual characteristics. Combined with personality and values, all included under individual differences. Combined with personality and values, all included under consumer individual differences.
Evaluation Criteria Shown separately Included in beliefs being considered before purchase as pre-purchase evaluation criteria as well as after consumption as post-purchase alternative evaluation being considered before purchase as pre-purchase evaluation criteria as well as after consumption as post-purchase alternative evaluation
Normative Compliance and Info. Process Shown separately Included with social influences Not explicitly indicated Combined with memory
Cultural Norm and Values Shown separately (direct influence on lifestyle) Included with social influences Included as part of environmental influences Involved under environmental influences
Reference group/family Shown separately. variables influencing decision process components. Included with social influences direct influences on all elements of decision process Decision and reference groups included as part of environmental influences Encompassed under environmental influences
Unanticipated circumstances Shown separatelyBut direct influence on choice Shown separately as situational influences and direct influence on decision process Included as part of environmental influences Comprised under environmental influences
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