Say you're out shopping for basic household goods -- perhaps orange juice and soup. Or light bulbs. Or diapers for your young child. How do you choose the products you buy? Is it a complicated decision, or a simple one?
It could be complex: Factors like price, quality, and brand loyalty may run through your mind. Indeed, some scholars have developed complicated models of consumer decision-making, in which people accumulate substantial product knowledge, then weigh that knowledge against the opportunity to explore less-known products.