Decision-making Management of Consumer Behavior Based on Component Regression Model

Main Article Content

Mei-Er Zhuang
Wen-Tsao Pan
Jia-Yan Zhou

Abstract

In this study component regression model is used as a research method to explore the influencing factors of compromise effect in decision-making management of consumers, and new hypotheses are proposed by referring to three important concepts of personality psychology. The conclusion can be drawn that professional level, cognitive needs, and trust tendencies have significant impacts on the compromise effect, which is the focus and innovation of this paper. The study found that the compromise effect is more likely to occur in those who have a lower level of expertise, cognitive need or higher level of trust tendency. The study also found that some result will be partially overestimated while some will be underestimated if standard linear regression is applied in analyzing the decision-making management of consumers. Based on the component regression model, the influencing factors of the consumer decision-making process are analyzed from a more accurate and detailed perspective, and relevant suggestions for marketing practice have been provided according to the research results.

Keywords:
Component regression, consumer behavior, professional level, cognitive need, trust tendency

Article Details

How to Cite
Zhuang, M.-E., Pan, W.-T., & Zhou, J.-Y. (2019). Decision-making Management of Consumer Behavior Based on Component Regression Model. Journal of Economics, Management and Trade, 24(3), 1-10. https://doi.org/10.9734/jemt/2019/v24i330164
Section
Original Research Article

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