How can individual decision-making theories (e.g. Cognitive Moral Development and Moral Intensity) be applied to the Volkswagen (VW) emissions scandal?
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How can individual decision-making theories (e.g. Cognitive Moral Development and
Moral Intensity) be applied to the Volkswagen (VW) emissions scandal?
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- What is rationale decision-making? Draw Assumptions of the Rational Decision-Making Model?How does the role of information in the rational model of decision making differ from the role of information in the behavioral model?How does decision theory account for intertemporal decision-making, where choices have long-term consequences?
- How do consumers gather information and develop knowledge on immunity? How do they use their knowledge in purchase decision making? with an real life exapmleA: How do consumers gather information and develop knowledge on immunity? How do they use their knowledge in purchase decision making? B: What are the five new food habits consumers developed due to this pandemic? Do you find any correlation between answers to the question sets A and B?Talk to five of your friends/respondents and write answers to the above questions based on those responses. Your writing should look like a story with theme based titles and subtitles. In a maximum of 300 words, present customer profiles of your five friends/respondents in the end.Consumer behavior models provide important insights about consumer decision making process. But as you all know that the consumer behavior is very dynamic and keeps on evolving, the explanation provided by these models is limited in nature and cannot explain all the factors influencing the behavior. The panic caused by Covid-19 pandemic cannot be accounted for by any model and this will result in behavioral shift of consumers." a. Do you agree with this statement? Discuss with help of any consumer decision model of your choice. b. What elements would you like to introduce in the model of your choice to account for covid-19 driven panic and the highly probable behavioral shift?