The expression of this rotational or twisting force around an axis is called torque, which is measured in units of force times distance from the axis of rotation. If you have a 1-foot-long wrench and you exert a force of 10 pounds on the end of it then you apply a torque of 10 pound-feet (10 lb-ft).
This explains the consumer buying decision process. A consumer goes through several stages before purchasing a product or service. NEED â INFORMATION GATHERING/SEARCH â EVALUATION OF ALTERNATIVES â PURCHASE OF PRODUCT/SERVICE â POST PURCHASE EVALUATION. 1  Step 1 - Need is the most important factor which leads to buying of products and services.
In psychology, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.Every decision-making process produces a final choice that may or may not prompt action.Decision-making is the process of identifying and choosing alternatives based on the values and preferences of the decision-maker. Sunk-cost fallacy is a specific type of framing effect that affects decision-making. 2  It involves an individual making a decision about a current situation based on what they have previously invested in the situation.