Interview of a Person who Works in a Multinational Company - Essay Example

He loves to watch advertisements and hates to waste time. He spends his weekends with his friends and relatives mostly. The person tries to have a consistent behavior or responses for the situations that are recurring. He is a person who likes to avoid risks. He follows a balanced budget. Explanation of the nature of the decision The nature of the decision processes will involve 5 crucial steps. They are as follows: Recognition of the problem, search for information, and evaluation of the available alternatives, decisions on purchase and behavior on post purchase.

The market for a particular product can impact upon the decision making process. Some of the marketing mix processes include quality of the product, price of the product, promotion of the product and place. Now the person being interviewed watches advertisements and therefore his decision is bound to get influenced by the various promotional strategies. Moreover, he will not hop for lowest price and so will buy the product at his door step even at a slightly higher cost as he hates to waste time.

Social cultural activities can also influence the purchasing decisions (Boone and Kurtz, 156). The socio cultural influences include personal influences, reference from groups, friends and social class. As the interviewed person spends time with friends and relatives his decision will probably get influenced by it as well. The number of substitute available in the market seems to affect the decision. As the person depicts a consistent behavior he would opt for the same product once bought if the product has been able to satisfy his needs.

New products available in the market may not have any impact on the purchasing decisions. The person will not opt for any decision where some amount of risk is associated and he is able to realize that. Therefore, he will purchase only those products which are available for long time and share a review from the other users. He will not take any initiative to try for new alternatives. The variables of price, income, tastes, and prices of other goods Suppose the price of the product that the person wishes to buy falls.

In that case the person under consideration will not like to buy some extra products as his requirements are limited currently. Lower prices will allow him to save more for the future and it is expected that his future family expenditure will rise. This would be a happy situation for the considered person as he is currently focused to save more. Again if the price of the product rises then he will try to shrink his demand as he follows a balanced budget. He will try and satisfy his needs within what he can buy with the amount according to the budget.

If there is rise in income levels then he is supposed to save a larger proportion of it for future expenditure and will use some portion of it for his necessities. As the person is inclined only in necessities and not in luxuries he will engage himself in purchasing decisions of only the necessary items. So the he needs to analyze the purchasing decisions and point out the necessities in order to take advantage of the situation. If there a change in tastes then the person under consideration will sacrifice some other products and will opt for the new product.

As the person d not have any increase in income in this case he will no other alternative but to spend less on a certain product which