Dilemmas in decision-making in terms of consumer behavior can arise due to the presence of time and money. However, some decisions can be affected when deciding too soon or too late in order to purchase goods or acquire services, where... more
Dilemmas in decision-making in terms of consumer behavior can arise due to the presence of time and money. However, some decisions can be affected when deciding too soon or too late in order to purchase goods or acquire services, where time factor plays an important role in it. Most consumers fail to interpret the implicit information and neglect the opportunity cost linked with the product. But, some cues and explicit information can create impact upon the decision-making process of consumer by forcing them to consider opportunity cost in the product. This paper will investigate the impact of opportunity cost prompting signal in terms of time domain upon tightwads and spendthrift consumers and how these both consumers act differently with the situation.
