Question: 1 . Explain the steps involved in the typical consumer purchase. Also discuss what can happen following the actual purchase of a significant product that

1. Explain the steps involved in the typical consumer purchase. Also discuss what can happen following the actual purchase of a significant product that is on the expensive side. Also try to discuss the concept of compensatory versus non-compensatory consumer decision modelswhen purchases are involved. Also comment on whether or not consumers of high involvement versus low involvement purchases may use compensatory or non-compensatory modelsin their decision processes.
a. Give an example where a consumer is likely to use a compensatory model.
b. Give an example where a consumer is likely to use a non-compensatory model.

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