Vol. 4, Issue 3 (2017)
Investigating into factors accounting for cognitive dissonance (Post purchase regrets)
Author(s): Amoah Armstrong, Nusrat-Jahan Abubakar, Isaiah Sikayena
Abstract: This study seeks to look into the factors that account for consumers’ post-purchase regrets (cognitive dissonance). From the review of relevant literature, Impulse Buying, Price of the Item Purchased, Level of Consumer Decision Process, Level of Expectation, Level of Consumer Involvement and Reversibility of Purchase Decision were identified as some of the factors that account for consumers’ post-purchase regrets. As a result, these factors were discussed in the paper and used as the independent variables in the research, with Cognitive Dissonance (Post Purchase Regrets) being the dependent variable. Quantitative approaches were used for data collection. The finding in this research shows that only price is significantly related to post-purchase regret. As a result, marketers are advised to adopt the most cost effective method of production to be able to charge relatively lower prices without loosing sight on the quality of the product.