Joint use of two cognitive models in order to understand consumer choice process

This study aims to generate a better understanding about consumer behavior based on two cognitive models: risk perception and consideration set. In this sense, it has focus on consumer evaluation and choice processes, considering different risk perception levels in two service settings. A survey with a sample of 772 respondents was performed through a structured questionnaire. Results indicate that the number of brands considered for choice is associated with some risk perception dimensions. It was also identified which attributes are considered the most important in service delivery as well as the most used risk reducing strategies by consumers with varying patterns of risk perception. Conclusions and managerial implications are also discussed.

Consumer behavior; consideration set; risk perception