Final answer:
The described purchase decision is known as low-involvement or routine response behavior. It involves quick choices made with minimal deliberation because the outcomes are not significantly important to the customer and often relate to familiar products or services.
Step-by-step explanation:
The purchase decision described typically occurs when decisions are not very important to customers and often involves familiar purchases. This kind of decision-making is known as low-involvement or routine response behavior. In instances such as these, consumers make choices quickly and without much deliberation because the outcome of the decision is not of substantial significance to them and they may have a prior history with the product or brand.
Purchase decisions based on imperfect information often lead to a satisfaction level that is unpredictable. When buyers know less about a product or service, the risk of making a decision they might regret increases. The familiarity of low-involvement purchases usually minimizes this risk because the buyer has established expectations based on previous experiences.
Every purchase is underpinned by the belief in the satisfaction that the good or service will provide. The decision-making process involves considering what will bring the highest level of utility, balancing what items cost, and weighing the benefits of increased consumption against what is given up in exchange. For low-involvement decisions, this process is simplified, as consumers opt for what has provided suitable utility in the past without necessitating extensive research or consideration.