Reasoned Action and Planned Behavior

Prof Rajagopal

Chapter 2 in The Butterfly Effect in Competitive Markets, 2015, pp 30-65 from Palgrave Macmillan

Abstract: Abstract Chaos in markets drives random buying behavior among consumers. Consumer behavior in general exhibits mixed cognitive attributes of risk-averse and creative enthusiasm during periods of market chaos. The ideal circumstances for consumer behavior are driven by a competitive business environment in the market. Intention is the cognitive representation of a consumer’s readiness to accept or reject changes in the market and perform induced or self-referred behavior. The butterfly effect in the market triggers such cognitive conditions among consumers. This intention is determined by three things: consumers’ attitude toward the specific behavior, their subjective norms, and their perceived behavioral control. This chapter argues that at the initial stage consumers face a decision crunch, a narrow scope of idea transformation, returns on investment, and self-references versus peer review pressures in making buying decisions. The chapter addresses the issues of reasoned action and differentiation strategies that drive the thought process among companies for reaping better advantages of the butterfly effect. The chapter also maps the mindset of consumers in managing the challenges and opportunities within and outside the market ambience. The chapter also considers the attributes of cognitive push for overcoming complex decisions in marketing, as a way to deliver value for money to consumers. Besides cognitive attributes of consumers, this chapter also discusses issues of knowledge development, business thought process, and managing the consumer learning curve.

Keywords: Social Medium; Consumer Behavior; Behavioral Control; Competitive Market; Marketing Strategy (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (43)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43497-5_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137434975

DOI: 10.1057/9781137434975_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().