Marketing management

Application of the consumer decision making process:

Think of two very different products, (for example: baked beans or a bar of chocolate as opposed to a holiday or a new car) The process of buying will take longer if there is more perceived risk and product involvement.

If for example, you are buying a new car you will call upon your own experience and those of your friends, family or opinion leaders. You will seek external information. You will decide what is important to you whether price, colour, model, 0-60mph speed and make comparisons with alternative products. 

Answer the following Question by using these two products:

Motor cycle and Cereal

1. How was the need for this product identified?
2. Who else was involved in the process and what roles did they take on?
3. How important was it to make the right choice? What affected your level of involvement?
4. Explain how you went about the search for information to make the purchase decision. Did you have enough information from your internal search or did you have to collect information from external sources? List the external sources of information and decide which source was most reliable and of most value to you in the decision process.
5. What criteria did you use to help you evaluate the alternative products?
6. Were there any other factors that you considered at the purchase stage?
7. After you had made the purchase, were you satisfied with the product? Did it satisfy the criteria you used when evaluating the alternatives?

Answer rating: 100% (QA)

1The need of buying a motor cycle was identified by the problem of conveyance to my collegewhereas the need of buying cereal was identified by the sto... View the full answer