Consumers are increasingly using the internet as a method of purchasing goods and services Explain the typical objectives of the marketer at each stage of the decision making process and show how they attempt to influence each stage in the context of internet shopping. You must make reference to both low and high involvement products and services. Questions which should be answered in the report:
What it means to be an educated person Decision-making process Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives.
This approach increases the chances that you will choose the most satisfying alternative possible. Download the PDF Step 1: Identify the decision You realize that you need to make a decision. Try to clearly define the nature of the decision you must make. This first step is very important.
Gather relevant information Collect some pertinent information before you make your decision: Other information is external: Identify the alternatives As you collect information, you will probably identify several possible paths of action, or alternatives.
You can also use your imagination and additional information to construct new alternatives. In this step, you will list all possible and desirable alternatives.
Weigh the evidence Draw on your information and emotions to imagine what it would be like if you carried out each of the alternatives to the end. Evaluate whether the need identified in Step 1 would be met or resolved through the use of each alternative. Finally, place the alternatives in a priority order, based upon your own value system.
Choose among alternatives Once you have weighed all the evidence, you are ready to select the alternative that seems to be best one for you.
You may even choose a combination of alternatives.
Your choice in Step 5 may very likely be the same or similar to the alternative you placed at the top of your list at the end of Step 4. If the decision has not met the identified need, you may want to repeat certain steps of the process to make a new decision.
For example, you might want to gather more detailed or somewhat different information or explore additional alternatives.In general, the decision making process helps managers and other business professionals solve problems by examining alternative choices and deciding on the best route to take.
Using a step-by-step approach is an efficient way to make thoughtful, informed decisions that have a positive impact on your organization’s short- and long-term goals. Beliefs and attitude play an essential role in influencing the buying decision of consumers.
Individuals create a certain image of every product or service available in the market. Every brand has an image attached to it, also called its brand image.
“The consumer decision-making process is the process by which individuals select from several choices, products, brands or ideas” (Charbonneau, , p. ). Some of the stages are always necessary while others vary in the consumer’s level of involvement, some .
The only way to prevent these shortcomings from tainting your decision-making process is to enter your strategic planning and budgeting session with an open mind, clear communications, a collaborative outlook and robust decision-making tools.
The Engel-Kollat-Blackwell (EKB) model of consumer decision making was used for analysis of the data and as the theoretical framework for the study. For each garment analyzed in the study, separate analysis pages were prepared containing headings corresponding to stages of the EKB model (problem recognition, internal search, etc.).
A compensatory decision involves the consumer “trading off” good and bad attributes of a product.
For example, a car may have a low price and good gas mileage but slow acceleration. For example, a car may have a low price and good gas mileage but slow acceleration.