The decision-making process between rationality and emotions

Alvino, Letizia; Franco, Massimo

doi:10.18535/ijsrm/v5i9.18

Cited by 5 publications

(5 citation statements)

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“…Traditional methods, such as focus groups and surveys, cannot adapt easily to new situations, for instance if the choice environment differs significantly (e.g., time, location). However, a biological model that is based on understanding of behavior and underlying neural mechanisms, which likely will not change from one decision environment to the next, might be less effected by new situations (Alvino & Franco, 2017;Bernheim, 2009;Clithero et al, 2008).…”

Section: ) Consumers' Decision Making and Application To Marketingmentioning

confidence: 99%

Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research

Alvino¹,

Constantinides²,

Franco³

2018

IJMS

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Understanding consumers’ decision-making process is one of the most important goal in Marketing. However, the traditional tools (e,g, surveys, personal interviews and observations) used in Marketing research are often inadequate to analyse and study consumer behaviour. Since people’s decisions are influenced by several unconscious mental processes, the consumers very often do not want to, or do not know how to, explain their choices. For this reason, Neuromarketing research has grown in popularity. Neuromarketing uses both psychological and Neuroscience techniques in order to analyse the neurological and psychological mechanisms that underlying human decisions and behaviours. Hence, studying these mechanisms is useful to explain consumers’ responses to marketing stimuli.This paper (1) provides an overview of the current and previous research in Neuromarketing; (2) analyzes the use of Marginal Utility theory in Neuromarketing. In fact, there is remarkably little direct empirical evidence of the use of Marginal Utility in Neuromarketing studies. Marginal Utility is an essential economic parameter affecting satisfaction and one of the most important elements of the consumers’ decision-making process. Through the use of Marginal Utility theory, economists can measure satisfaction, which affects largely the consumer’s decision-making process. The research gap between Neuromarketing and use of Marginal Utility theory is discussed in this paper. We describe why Neuromarketing studies should take into account this parameter. We conclude with our vision of the potential research at the interaction of Marginal Utility and Neuromarketing.

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Section: ) Consumers' Decision Making and Application To Marketingmentioning

confidence: 99%

Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research

Alvino¹,

Constantinides²,

Franco³

2018

IJMS

Self Cite

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“…Another element that psychology studies manifest as very influential in decision-making is that of human emotions (Alvino & Franco, 2017;Schwarz, 2000). These have been extensively considered in studies on the behavior of different business stakeholders individually.…”

Section: Introductionmentioning

confidence: 99%

From Behavioral Strategy to Emotional Strategy: It Is Time to Use Emotions as a Competitive Advantage

Urío¹,

Palomo²,

Gavilán³

2023

OJBM

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This paper reviews relevant research from various disciplines: business stakeholders, behavioral strategy, and stakeholder motivations to propose a holistic and integrative approach to the discipline of business strategy formulation. The purpose is to propose a holistic view of the formulation of business strategies focused on fulfilling the emotional needs of business stakeholders and provide a framework for future research. There is an opportunity to develop successful business strategies by considering two dimensions: On the one hand, considering the motivations and aiming to fulfill the needs of all company stakeholders not purely economic return. On the other hand, among these motivations, emotional needs have an increased role particularly in the developed world were a significant part of the physiological needs are already covered. The article opens a new avenue for future business strategy research. By delivering socioemotional value to stakeholders, companies can complement the current economic based approach and create additional sustainable competitive differentiation.

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“…Even after the decision stage, individuals can re-enter the phase of uncertainty. He can also return to the indecision phase after canceling the previous decision (Hampshire and Hart, 1958).The more updating references (e.g., Alvino & Franco, 2017;Bruch & Feinberg, 2017;Tyburski, 2017) acknowledge this process. They add another attribute, namely the trade-off between perceived gains and losses of each option.Based on the above argument, the author identifies three decision attributes.…”

mentioning

confidence: 99%

“…The more updating references (e.g., Alvino & Franco, 2017;Bruch & Feinberg, 2017;Tyburski, 2017) acknowledge this process. They add another attribute, namely the trade-off between perceived gains and losses of each option.…”

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confidence: 99%

Decision, intention, expectation, willingness, and volition: Critics and comments

Simamora

2022

JEP

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There are thousands of studies aimed at predicting future behavior. The most outstanding concept in those quests is behavioral intention. However, many researchers fell into misusing those concepts, raising the inaccuracy of the prediction. Many researchers paid no considerable attention to the specific context of their study. This article aims to give the direction to avoid that trap and to straighten out the proper use of the concept of decision, goal intentions, specific intention, implementation, behavioral expectation, behavioral willingness, and volition. The author also outlines their relevance to a particular behavior. Original Article | Turnitin

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The decision-making process between rationality and emotions

Cited by 5 publications

References 50 publications

Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research

Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research

From Behavioral Strategy to Emotional Strategy: It Is Time to Use Emotions as a Competitive Advantage

Decision, intention, expectation, willingness, and volition: Critics and comments

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