Perceived value and psychological thresholds: implications for marketing

Individual decisions fall in the broad categories of instinctive, automatic, intuitive, deliberate, and impulsive. Decisions may be conscious, pre‐conscious, or unconscious. These broad categorizations serve as background for the thrust of this paper. Decisions occur if certain forces exceed a threshold. This paper centers on issues related to action thresholds in the context of marketing. The approach characterizes decision space of an individual in the context of multidimensional utility‐psychic space. Variables of different characteristics influence decision space and thresholds. Asserts that variables of influence in the psychic region of the mind play an especially important role in this decision space and in marketing. Offers a conceptual background on this decision space and thresholds and focuses on implications for marketing.