The Concept of Decision-Making Process - Essay Example

?Consumer Behavior Table of Contents Introduction 3 Critical Analysis 4 Decision-Making Process 4 Influencing Factors 5 Conclusion 7 Reference list 8Introduction The concept of decision-making is often considered as the study of recognizing and picking the best alternatives on the basis of the likings and the values of the decision maker. The aspect of decision-making depicts the consideration of suitable alternative choices which best fit with the expected objectives and desires of the decision maker (Fulop, n.d.). The notion of consumer decision-making can be described as a process by which the consumers recognize their needs, gather relevant information about a particular product, assess the alternatives, and, finally, make the decision to buy the product. This entire process is usually known as the decision-making procedure of the consumers. These particular activities – parts of the decision-making of the customers – are influenced by various factors that include cultural, social, group and personal aspects. The importance of decision-making of the customers is that it helps the consumers to identify their needs in order to fulfill their objectives (Williams, 2012). In this paper, the evaluation of the stages of the decision-making procedure that the customers go through in selecting whether to purchase the Crispy Baby Snacks product or not from the business market of Oman will be taken into concern. Moreover, the analysis of the most significant social and personal factors in relation to the purchase decision for this particular product will also be portrayed in the discussion. Critical Analysis Decision-Making Process The various stages of the decision-making procedure of the consumers include recognition of the need, gathering information about the product both internally and externally, assessing the alternatives, making purchase-related decisions, and, finally, creating post-purchase assessment (Haubl & Trifts, 2000). In relation to the initial stage of the customers’ decision-making procedure, it can be stated that the customers recognize their need to provide nutritional and delicious Crispy Snacks to their babies and thus start to collect information about the different snacks products which are available in the business market of Oman. This particular behavior of gathering information about the availability of the snacks products ultimately leads them to assess the other alternative products in the business market. After the evaluation of the alternative products, the consumers make the decision to purchase Crispy Baby Snacks product for their babies. In this context, it can be stated that the continuous use of the product, i.e. the Crispy Baby Snacks, ultimately leads to dissatisfaction or satisfaction of the consumers about the product. This particular activity of the customers also leads to the rejection or repetitive purchase of the product by a considerable extent. The post-purchase evaluation decision stage of the consumers depends on the acceptance or the rejection of the products available in the business market of Oman. The customers are satisfied with a product only when their expectations are met. In this regard, in relation to the Crispy Baby Snacks, the various expectations of the customers include the quality, flavor, and, most importantly, the cost. While using the particular product, on the basis of the aforementioned aspects, the consumers comply with the decision-making stage of post-purchase evaluation (New Age International, n.d.). Influencing Factors Social There lie various significant factors that influence the purchase decision-making procedure of the customers. In this context, one set of the factors can be deemed as the social factor that includes the group or the social segment to which the customer belongs. The buying patterns of the customers are ultimately influenced on the basis of the aforesaid social aspects. It has been observed that the consumers’ decision-making procedure, as regards the Crispy Baby Snacks product, is influenced not only by the psychological factors but also by being a member of a particular social group. Among the different social groups, the family plays an imperative part in the decision-making process of the consumers. This is due to the fact that the different stages in the life cycle of a family have dissimilar purchase behavioral patterns in regard to any product. The different stages in a family life cycle include single stage, Full Nest I, II, and III; young, newly married, and solitary survivor among others. For instance, a newly married young couple that has no children generally spends much money on consumer durables, furniture, and luxury products. However, in contrast, the Full Nest I family having a child under the age of six spends more on various home purchases that include television, baby foods, and toys. Therefore, as regards the product, i.e. Crispy Baby Snacks, it is appropriate for the company to target families in the Full Nest I stage (Assael, 2005). Personal Factors The personal factors depict the individual features of the customers, which ultimately affect their decision-making procedure in regard to a particular product, such as Crispy Baby Snacks. The various personal aspects which influence the purchase decision of the consumers, especially in regard to Crispy Baby Snacks, include the demographic facets such as nationality, income level, gender, and occupation. The sale and the purchase of the Crispy Baby Snacks product depend on these particular significant aspects to a considerable extent. Therefore, it can be broadly stated that the aforesaid aspects impose noteworthy impact on the consumers’ buying pattern and the purchase decision in regard to the product. The company which delivers the Crispy Baby Snacks product in the business market of Oman should find out what personal factors might assist the company to flourish significantly in the future (Ramaswamy and Namakumari, 2009). Conclusion After a brief discussion of the concept of consumers’ decision-making procedure, it has been viewed that there lies few significant factors that influence the purchase decisions of the consumers in regard to a particular product such as the Crispy Baby Snacks product. The major factors include the level of the involvement of the customers, value of the product, identification of the alternatives, the level of information gathered, and the time taken to make an effective decision to purchase the product. Moreover, the other factors are the personal and the social factors that considerably contribute to influencing the buying decision-making procedure of the customers. The customers undergo various stages of the decision-making procedure, and this process results in a decision to buy (or to avoid buying) the product. Reference list Assael, H., 2005. Consumer Behavior A Strategic Approach. Dreamtech Press. Fulop, J., n.d. Introduction to Decision Making Methods. [Online] Available at: http://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CFMQFjAB&url=http%3A%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fdownload%3Fdoi%3D10.1.1.86.6292%26rep%3Drep1%26type%3Dpdf&ei=-SXkT-jtKNHhrAee4siHCQ&usg=AFQjCNHQ3VeHogt7Dhz3zbr0ETd9wUa4Fg&sig2=Gp756HaC2jmlEME3oc2J2g [Accessed June 22, 2012]. Haubl, G. and Trifts, V., 2000. Consumer Decision Making in Online Shopping Environments: The Effects of Interactive Decision Aids. Marketing Science, 19(1), pp.4-21. New Age Publisher, n.d. Consumer Behavior. [Online] Available at: http://www.newagepublishers.com/samplechapter/000160.pdf [Accessed June 22, 2012]. Ramaswamy, V. S. and Namakumari, S., 2009. Marketing Management: Global Perspective Indian Context. Macmillan. Williams, A., 2012. Understanding the Hospitality Consumer. Routledge. Read More