Association of Nostalgia and Neophilia with Millennial Decision-Making Styles: An Analytical Hierarchy Process (AHP) Approach
<p id="p1">Despite the significant amount of research on consumer decision-making styles (CDMS), there remains a dearth of knowledge on the influence of various factors on these styles. Thus, exploring emerging and understudied variables, such as nostalgia and neophilia, is imperative alongside CDMS...
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| Main Authors: | , |
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| Format: | Book Chapter |
| Language: | English |
| Published: |
IntechOpen
2023
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| Subjects: | |
| Online Access: | https://www.intechopen.com/chapters/1124872 |
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| Summary: | <p id="p1">Despite the significant amount of research on consumer decision-making styles (CDMS), there remains a dearth of knowledge on the influence of various factors on these styles. Thus, exploring emerging and understudied variables, such as nostalgia and neophilia, is imperative alongside CDMS. Moreover, in the contemporary era of marketing, millennials have emerged as a key area of interest in research. Therefore, this study aims to contribute to a more rigorous understanding of CDMS among Sri Lankan millennials and the association between nostalgia and neophilia with these styles. The study was conducted using a positivist research paradigm with a deductive approach and a survey strategy, with a sample size of 385 participants. Factor analysis was utilized to identify the types of CDMS among millennial consumers in Sri Lanka, and the analytical hierarchical process was employed to prioritize the CDMS types. Pearson’s correlation coefficient was used to examine the correlation between nostalgia and neophilia and each dimension of CDMS. The study’s findings revealed the presence of seven CDMS types, with perfectionist decision-making and brand consciousness ranking as the top two. Furthermore, the study discovered a significant correlation between neophilia and nostalgia with CDMS.</p> |
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| ISBN: | 978-1-83769-541-6 |
| DOI: | 10.5772/intechopen.1001604 |