A Methodology for Profiling Consumers' Decision‐Making Styles

TLDR

Consumers use a variety of decision‑making styles. The study conceptualizes eight basic characteristics of these styles and develops a Consumer Styles Inventory to measure them empirically. The authors describe a valid and reliable method for presenting a Profile of Consumer Style based on the inventory’s eight characteristic measures. Factor analysis confirms the eight characteristics, and the research highlights unique findings and proposes applications in consumer education, research, and family financial counseling.

Abstract

Consumers use a variety of decision‐making styles. This paper conceptualizes eight basic characteristics of these styles and develops a Consumer Styles Inventory to measure them empirically. Factor analysis of the Consumer Styles Inventory validates these eight consumer characteristics. A valid and reliable method for presenting a Profile of Consumer Style, based on measures of the eight style characteristics, is described. Unique findings of the research are discussed, and applications of the Consumer Styles Inventory in consumer education, consumer research, and family financial counseling are suggested.