Modelling of Consumer Decision-Making in Australian Higher Education

Joint decision-making has been an area of interest for a long time in the consumer research; however, there has been little research that brings individual and joint decision-making of family in any context (Rungie, Scarpa, and Thiene, 2014).  Marketing professionals have always been interested in understanding how families are making choices and decisions collectively. Also, the literature of family decision-making has focused on understanding how family members interact and influence each other when making decisions to purchase a product or a service (Koc, 2004). The products or services where decisions are formed jointly within a family have a higher level of importance and have relatively higher perceived risk associated with the decision (Sheth, 1974). Consequently, there is a higher level of involvement, information seeking, and negotiation during joint decision-making context in the families. Higher education is an example of a high-risk decision within the families where the parents and the young adults may be involved in the process and constantly interacting to influence their choice and preference in a joint setting. In studying joint decision-making, the interactions and the decisions between the young adults and their parents will have a different preference structure for their individual consumption than the preference structure for the family collectively (Ott, 2012). The dyadic approach of decision-making within the family is ignored by the marketing researchers.