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Consumer Purchase Decision Models: A Revıew Of Financial Services Context

Table 2:

Variables Nicosia’s CDMM1966 EBM Model 2001 Model of Buyer Behaviour1969 Information Processing Model 1979 CDMF2013
Stages 5 Stages 5 Stages 4 Stages 2 Stages 3 Stages
(i) Firms’s attributes (ii) Consumer attributes(iii) Search evaluation(iv) Purchase, (v) Feedback (i) Information input(ii) Information processing(iii) Decision process stage(iv) Decision process variables (v) External influences (i) Stimulus (ii) Perceptual Constructs(iii) Learning Constructs(iv) Outcomes (i) Basic Hierarchy(ii) Intermediate process (i) Consumer Decision Making Inputs(ii) Consumer Decision Making Process(iii) CDM Outcomes
Variables Influencing decision process Culture Not Specified Specified Not Specified Not Specified Specified
Family &Social class Not Specified Specified Specified Not Specified Specified
Personal influences Not Specified Specified Specified Not Specified Specified
Situation Not Specified Specified Not Specified Not Specified Specified
Consumer knowledge Not Specified Specified Not Specified Not Specified Specified
Resources Not Specified Specified Specified Not Specified Specified
Personality Not Specified Specified Not Specified Not Specified Specified
Values & Lifestyle Not Specified Specified Not Specified Not Specified Specified
Services 7 P’s Not Specified Not Specified Not Specified Not Specified Specified
Involvement Not Specified Specified Not Specified Not Specified Specified
Stimulus Quality Not Specified Specified Specified Specified Specified
Price Not Specified Specified Specified Specified Specified
Uniqueness Not Specified Specified Specified Specified Specified
Decision Process Variables Belief & Attitude Not clearly specify Specified Specified Not clearly specified Specified
Intention Not clearly specified Specified Specified Not clearly specified Specified
Evaluation Criteria Pre-purchase evaluation pre and post-purchase alternative evaluation Pre-purchase evaluation Identify but not broadly pre and post-purchase alternative evaluation
Information Input Specified Specified Specified Specified Specified
Information Processing Exposure & Acceptance Not specified Specified Not specified Specified but complicated Specified
Attention & Comprehension Not specified Specified Specified Specified but complicated Specified
Retention Not specified Specified Not specified Specified but complicated Specified
Outcome of Purchase Two outcomes:(i) Feedback towards organizations(ii) Feedback relates consumers’ experience Three outcomes:(i) Dissatisfaction(ii) Divestment (iii) Satisfaction Two outcomes:(i) Purchase or purchase intention(ii) Brand comprehension Not clearly identify Two outcomes:(i) Purchase of services(ii) Post purchase behaviour
Product Compatibility Specified Specified Specified Specified Specified
Financial Service Compatibility Incompatible Incompatible Incompatible Incompatible Compatible
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