Question: Consumers purchase a good or service based on their perception that it is the best value for their money; that is, the fatio of benefits

Consumers purchase a good or service based on
Consumers purchase a good or service based on
Consumers purchase a good or service based on their perception that it is the "best" value for their money; that is, the fatio of benefits to costs is higher for that good or service than for any other. This activity is important because if we want to understand cansumer behavior, we must learn why people buy the products and services that they do. The goal of this activity is to demonstrate what goes through a consumer's mind before, during. and after the consumer makes a purchase, It will help you to more clearly see the steps involved in the consumet decision process model. First, read the case about Elina Potrova's options for replacing hor premium cable channets. Then match each action to the step that best represents that action in the constmer decision process model. Elina Petrova, an avid movic-watcher, just started college and is missing the premium cable channels she used to wotch at home. Since premium cable isn't available in her dormitory, she decided to investigote movie-streaming services. As part of her decision-making process, she asked herself, "Which service gives me the bost overall value-the best selections and convenience at the lowest price?" and "Which service offers a wicle enough variety of films that my friends will want to come over and watch with me?" She began by asking around for suggestions and by reading through online reviews of different services such as Hulu Plas and Amazon Prime. After. considering all her options, Elina decided to subscribe to Netfix fot its wide selection of films and television programs as well as for its popular original programming. which Netfix also makes availablo for streaming. Litte by littie, Elina and her friends began spending less time at the local movie house where they'd go to watch older films for $6 a flim and more time in her dorm room where they could watch movies of all genres and time periods to their hearts content. This, incidentally, turned out to be another huge cost-savings measure for Elina. It wasn't long before she recognized that she made the right decision. Elina became a Netfix comvert and recommended to others to do the same. Match each of the options above to the atems below. Wants access to home entertainment Asks a friend where he rents Compares Netfix, Amazon Prime, and Hulu Pius

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