Decision waves: consumer decisions in today's complex world

Abstract

Purpose

The purpose of this paper is to examine the dominant consumer decision theory models and understand why that theory has received little empirical validation. A “decision waves” theory is proposed – an alternative, multi‐phase approach to decision making using image theory. An approach to validating empirically the multi‐phase theory is outlined.

Design/methodology/approach

This conceptual paper examines the foundations of modern consumer decision theory and argues for a more representative model of actual consumer decisions.

Findings

Decision waves provide a theoretical approach to represent more accurately consumer decision making and improve understanding in this foundational component of marketing. Decision waves do not change detailed empirical findings: however, they do change the macro perspective of how those findings are assembled for marketing.

Research limitations/implications

An empirical test of decision waves theory is ongoing.

Practical implications

The concepts outlined in this paper will change segmentation, positioning and how tactical plans are developed within the marketing mix, particularly for promotional strategies.

Originality/value

A theoretical approach that represents decision making more accurately will bring us closer to understanding this foundational component of marketing. It provides a basis for differentiation in congested markets.

Citation

Lye, A., Shao, W., Rundle‐Thiele, S. and Fausnaugh, C. (2005), "Decision waves: consumer decisions in today's complex world", European Journal of Marketing, Vol. 39 No. 1/2, pp. 216-230. https://doi.org/10.1108/03090560510572098