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Buyer's Remorse
Buyer's remorse is the sense of regret after having made a purchase. It is frequently associated with the purchase of an expensive item such as a vehicle or real estate. Buyer's remorse is thought to stem from cognitive dissonance, specifically post-decision dissonance, that arises when a person must make a difficult decision, such as a heavily invested purchase between two similarly appealing alternatives. Factors that affect buyer's remorse may include: resources invested, the involvement of the purchaser, whether the purchase is compatible with the purchaser's goals, feelings encountered post-purchase that include regret. Causes The remorse may be caused by various factors, such as: the person purchased a product now rather than waiting, the item was purchased in an ethically unsound way, the property was purchased on borrowed money, the purchased object was something that would not be acceptable to others, or the purchased object was something that the buyer later questions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regret
Regret is the emotion of wishing one had made a different decision in the past, because the consequences of the decision were unfavorable. Regret is related to perceived opportunity. Its intensity varies over time after the decision, in regard to action versus inaction, and in regard to self-control at a particular age. The self-recrimination which comes with regret is thought to spur corrective action and adaptation. In Western societies adults have the highest regrets regarding choices of their education. Definition Regret has been defined by psychologists in the late 1990s as a "negative emotion predicated on an upward, self-focused, counterfactual inference". Another definition is "an aversive emotional state elicited by a discrepancy in the outcome values of chosen vs. unchosen actions". Regret differs from remorse in that people can regret things beyond their control, but remorse indicates a sense of responsibility for the situation. For example, a person can feel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carrefour Market Voisins-le-Bretonneux 2012 09
Carrefour () is a French multinational retail and wholesaling corporation headquartered in Massy, France. The eighth-largest retailer in the world by revenue, it operates a chain of hypermarkets, groceries stores and convenience stores, which as of December 2021, comprises its 13,894 stores in over 30 countries. History The first Carrefour shop (not a hypermarket) opened in 1960, within suburban Annecy, near a crossroads (hence the name, ''carrefour'' means ''crossroads'' in French). The group was created in 1958 by Marcel Fournier, Denis Defforey and Jacques Defforey, who attended and were influenced by several seminars in the United States led by "the Pope of retail" Bernardo Trujillo. The Carrefour group was the first in Europe to open a hypermarket, a large supermarket, and a department store under the same roof. They opened their first hypermarket on 15 June 1963 in Sainte-Geneviève-des-Bois, near Paris. In April 1976, Carrefour launched a private label ''Produits li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regret (decision Theory)
In decision theory, on making decisions under uncertainty—should information about the best course of action arrive ''after'' taking a fixed decision—the human emotional response of regret is often experienced, and can be measured as the value of difference between a made decision and the optimal decision. The theory of regret aversion or anticipated regret proposes that when facing a decision, individuals might ''anticipate'' regret and thus incorporate in their choice their desire to eliminate or reduce this possibility. Regret is a negative emotion with a powerful social and reputational component, and is central to how humans learn from experience and to the human psychology of risk aversion. Conscious anticipation of regret creates a feedback loop that transcends regret from the emotional realm—often modeled as mere human behavior—into the realm of the rational choice behavior that is modeled in decision theory. Description Regret theory is a model in theoretic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overchoice
Overchoice or choice overload is a cognitive impairment in which people have a difficult time making a decision when faced with many options. The term was first introduced by Alvin Toffler in his 1970 book, ''Future Shock''.Thomas W. Simon, ''Democracy and Social Injustice: Law, Politics, and Philosophy'', Rowman & Littlefield, 1995, Google Print, p.143/ref> This phenomenon in particular has come under some criticism due to increased scrutiny of scientific research related to the replication crisis and has not been adequately reproduced by subsequent research, thereby calling into question its validity. Psychological process The phenomenon of overchoice occurs when many equivalent choices are available. Making a decision becomes overwhelming due to the many potential outcomes and risks that may result from making the wrong choice. Having too many approximately equally good options is mentally draining because each option must be weighed against alternatives to select the best one. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency (such as the Agricultural Marketing Serv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friendly Fraud
Chargeback fraud, also known as friendly fraud, occurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services. Once approved, the chargeback cancels the financial transaction, and the consumer receives a refund of the money they spent. Dependent on the payment method used, the merchant can be accountable when a chargeback occurs. History Friendly fraud has been widespread on the Internet, affecting both the sale of physical products and digital transactions. To combat digital transaction fraud, prepaid cards have been offered as an effective alternative to ensure customer payment. South Korean software developers such as Nexon implemented a prepaid system in 2007 to combat friendly fraud, selling prepaid cards in stores such as Target. MasterCard was sued in 2003 by an Internet vendor for having credit card policies and fees that have made Internet vendo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caveat Emptor
''Caveat emptor'' (; from ''caveat'', "may he/she beware", a subjunctive form of ''cavēre'', "to beware" + ''ēmptor'', "buyer") is Latin for "Let the buyer beware". It has become a proverb in English. Generally, ''caveat emptor'' is the contract law principle that controls the sale of real property after the date of closing, but may also apply to sales of other goods. The phrase ''caveat emptor'' and its use as a disclaimer of warranties arises from the fact that buyers typically have less information than the seller about the good or service they are purchasing. This quality of the situation is known as 'information asymmetry'. Defects in the good or service may be hidden from the buyer, and only known to the seller. It is a short form of ''Caveat emptor, quia ignorare non debuit quod jus alienum emit'' ("Let a purchaser beware, for he ought not to be ignorant of the nature of the property which he is buying from another party.") I.e. the buyer should assure himself that t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Analysis Paralysis
Analysis paralysis (or paralysis by analysis) describes an individual or group process where overanalyzing or overthinking a situation can cause forward motion or decision-making to become "paralyzed", meaning that no solution or course of action is decided upon within a natural time frame. A situation may be deemed too complicated and a decision is never made, or made much too late, due to anxiety that a potentially larger problem may arise. A person may desire a perfect solution, but may fear making a decision that could result in error, while on the way to a better solution. Equally, a person may hold that a superior solution is a short step away, and stall in its endless pursuit, with no concept of diminishing returns. On the opposite end of the time spectrum is the phrase extinct by instinct, which is making a fatal decision based on hasty judgment or a gut reaction. Analysis paralysis is when the fear of either making an error or forgoing a superior solution outweighs the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooling-off Period (consumer Rights)
In consumer rights legislation and practice, a cooling-off period is a period of time following a purchase when the purchaser may choose to cancel a purchase, and return goods which have been supplied, for any reason, and obtain a full refund. Laws Many nations have passed laws that create cooling off periods for specific transactions, although the conditions under which they may apply and the transactions covered by the laws varies significantly by jurisdiction. For example, within the United States, the federal government imposes 72-hour cooling down periods for many consumer transactions completed at home or away from the seller's traditional place of business. Many U.S. states impose versions of those cooling down period laws, and offer similar laws for an additional range of transactions, such as time share purchases and health club contracts. For example, California provides cooling-off periods for many consumer transactions, including insurance purchases, car warranties, dent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Back Guarantee
A money-back guarantee, also known as a satisfaction guarantee, is essentially a simple guarantee that, if a buyer is not satisfied with a product or service, a refund will be made. The 18th century entrepreneur Josiah Wedgwood pioneered many of the marketing strategies used today, including the satisfaction-or-money-back guarantee on the entire range of his pottery products. He took advantage of his guarantee offer to send his products to rich clientele across Europe unsolicited. The money-back guarantee was also a major tool of early U.S. mail order sales pioneers in the United States such as Richard Sears and Powel Crosley Jr. to win the confidence of consumers. False claims The use of money back guarantees has grown significantly over the last few years and has become standard practice in direct marketing across all media. Very often, unreliable businesses use it as a tactic to reel the customer into a false sense of safety. Many guarantees by sellers often fall outside the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coupon
In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product. Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in retail stores as a part of sales promotions. They are often widely distributed through mail, coupon envelopes, magazines, newspapers, the Internet (social media, email newsletter), directly from the retailer, and mobile devices such as cell phones. ''The New York Times'' reported "more than 900 manufacturers' coupons were distributed" per household, and that "the United States Department of Agriculture estimates that four families in five use coupons. "Only about 4 percent" of coupons received were redeemed. Coupons can be targeted selectively to regional markets in which price competition is great. Most coupons have an expiration date, although American military commissaries overseas honor manufacturers' coupons for up to six months past ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Choice-supportive Bias
Choice-supportive bias or post-purchase rationalization is the tendency to retroactively ascribe positive attributes to an option one has selected and/or to demote the forgone options. It is part of cognitive science, and is a distinct cognitive bias that occurs once a decision is made. For example, if a person chooses option A instead of option B, they are likely to ignore or downplay the faults of option A while amplifying or ascribing new negative faults to option B. Conversely, they are also likely to notice and amplify the advantages of option A and not notice or de-emphasize those of option B. What is remembered about a decision can be as important as the decision itself, especially in determining how much regret or satisfaction one experiences. Research indicates that the process of making and remembering choices yields memories that tend to be distorted in predictable ways. In cognitive science, one predictable way that memories of choice options are distorted is that pos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
