Consumer Decision Making Process Of Market - Myassignmethelp.Com

Question: Discuss About The Consumer Decision Making Process Of Market? Answer: Introducation In order to analyse the decision making process of a consumer at the time of purchasing a product, vacuum cleaner has been selected as the product. Below is a chart, depicting each step of consumer decision making process. Need to purchase the product Accounting to Wang et al. (2016), the first step of purchasing a product is the necessity to buy the product. As the previous vacuum cleaner got damaged and became irreparable, there arose the need to purchase a new one. Internal and external information search When one get is decided that the particular product needs to be purchased, the very next step is to search for proper information about the product (Armstrong et al. 2015). The search engine, Google made searching easier. I searched different brands of vacuum cleaners and how one is different from the other in terms of its price, design, weight, manufacturing warranty and not to forget the review of the product as well. Apart from Google, I also searched the product in different online sites and got the product descriptions with customer review. Sets of alternatives Evoked set: Branded products are market with warranty and can be trusted easily (Gunawan 2015). The different brands that popped up during product search were Dyson, Electrolux, Hoover, Volta, Wertheim and many others. Inept: There are obviously certain lesser known companies or brands but their name evolved during product search. These are, Miele, Shark, Vax and others Inert: The brands that the buyers are aware of but not interest while purchasing. These brands were Brady Industries, Dustbane Products Ltd, Numatic International and others. Avoided Set: The brands that are completely avoided as they are not at all popular among the consumers and so that cannot be trusted at all (Wang and Yu 2017). These brands were Zelmer, Vorwerk etc. At the time of making purchase, it was decided that the product needs to be of good quality because these are durable appliances and are not purchased often. So, by checking a huge lot of alternatives, Panasonic brand was chosen and it was ordered online to avail the 10% off offerfinanace. Available purchase methods As stated by Solomon (2014), purchasing and selling products have become easier with the increasing number of online retail sites. Since, it was determined that a new product will be purchased and not a second hand, the available purchase methods are to either purchase from retail stores or electronic appliances outlets; or by ordering it online from any online site. Potential post-purchase behaviour The post purchase behaviour can be either positive or negative depending on the advantages gained from the particular product (Solomon et al. 2013). Since, the product will be purchased by thorough investigation, it is expected that the chosen product will be a good one and thus, post purchase behaviour would be positive towards the company and the product. References: Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Gunawan, S., 2015. The Impact of Motivation, Perception and Attitude toward Consumer Purchasing Decision: A Study Case of Surabaya and Jakarta Society on Carls Junior. iBusiness Management, 3(2). Solomon, M.R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). Upper Saddle River, NJ: Prentice Hall. Solomon, M.R., Russell-Bennett, R. and Previte, J., 2013. Consumer behaviour: Buying, having, being. Pearson Australia. Wang, M., Lu, Q. and Ye, Q., 2016, June. The Impact of Differenttypes of Online Reviews on Consumer Purchasing Decision-an Empirical Investigation with Online Marketplace Data. In PACIS (p. 300). Wang, Y. and Yu, C., 2017. Social interaction-based consumer decision-making model in social commerce: the role of word of mouth and observational learning. International Journal of Information Management, 37(3), pp.179-189.