Consideration set

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The Consideration Set is a fundamental concept in consumer[1] behavior and decision-making. It refers to the grouping of brands or products that a consumer seriously evaluates when they have a specific need or intent to purchase. The consideration set is formed after an individual becomes aware of various products and brands, and it is influenced by factors such as familiarity with the product, information overload, and personal preferences. The formation of this set involves the evaluation of top alternatives based on common attributes, shortlisting of standout options, and rationalization for subjective appeal. It’s a crucial step in decision-making frameworks and is employed through various methods like Unweighted Linear Compensatory or the Conjunctive Rule. However, the concept has limitations, including the fact that it doesn’t necessarily predict the final choice of the consumer.

Terms definitions
1. consumer. A consumer, in simple terms, is an individual who purchases goods or services for their personal use and not for resale or commercial purposes. They play a significant role in the economy as their demand for products motivates manufacturers to produce. This dynamic influences production, distribution, and consumption processes. Consumers also have certain rights, established by President John F. Kennedy, that include safety, information, choice, redressal, and representation. These rights protect them from hazardous goods and unfair practices. In today's digital age, consumers are evolving into 'prosumers', actively participating in product creation. Consumer behavior, therefore, has a profound impact on marketing strategies, leading to personalized marketing and mass customization.
Consideration set (Wikipedia)

Consideration set is a model used in consumer behaviour to represent all of the brands and products a consumer evaluates before making a final purchase decision. The term consideration set was first used in 1977 by Peter Wright and Fredrick Barbour. The consideration set is a subset of the awareness set, which is all of the brands and products a consumer initially thinks of when faced with a purchasing decision. The awareness set is filtered into the consideration set through the consumer's individual thoughts, preferences, and feelings — such as price, mood, previous experiences, and heuristics. Conversely, products that do not meet the criteria for the consideration set are either placed into the inert set or the inept set. These sets are fluid and the products in each set can change rapidly when the consumer is presented with new information.

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