After finishing this chapter, students should be able to:

• discuss how stored knowledge interacts with environmental factors to influence consumers’ decision-making processes.
• describe the key features of problem solving.
• describe the various aspects of problem representation, including goal hierarchies, choice alternatives and choice criteria.
• discuss the types of end goals and their effects on problem solving.
• describe the difference between compensatory and noncompensatory integration processes.
• define heuristics and understand different types of heuristics with examples.
• describe the differences between extensive and limited decision making and routinized choice behavior.
• identify several factors that influence the type of decision making consumers perform.