Consumer Decision Making - Luxury Goods Purchase - Case Study Example

The relevance of the family life cycle as well as the dynamics of husband-wife decision making when it comes to the selected product will be discussed.... INTRODUCTION As has been mentioned earlier, consumer behaviour refers to the process by which people select, search for, dispose of, use and purchase products and services, in satisfaction of their wants and needs (Holt, 2002).... A consumer is anyone who buys goods and/or services from the manufacturer for the higher end-use (Hebidge, 1981)....

consumer decision making The consumer decision making procedure involves five main steps.... … The paper "External Factors of consumer decision-Making Process" is a good example of coursework on marketing.... The paper "External Factors of consumer decision-Making Process" is a good example of coursework on marketing.... Most retailers need to understand the reasons behind the purchase.... Most retailers need to understand the reasons behind the purchase....

Different processes are involved in buying decision making, which is influenced by varied factors.... Different processes are involved in buying decision making, which is influenced by varied factors.... Throughout the purchasing process, there are inherent factors: cultural, economic, social, legal, and even political that underpins the real purchase and consumption.... It is imperative that across the social divide in the global community, like many others, travelers do not make air ticket purchase decisions in a vacuum....

Consumer decision-making process While researchers have identified three types of consumer decision making, namely, limited decision making, routine decision making and extensive decision making (Howard, 1994; Solomon, 2002; Lamb et al, 2004), most of them agree that the decision making process for the consumers involves five steps.... Also discussed are the internal factors that influence the consumer's purchasing decision making and how these factors are relevant in the foregoing discussion....

Many luxury products are being developed and entering the market to improve other available luxury goods.... To market the luxury goods, communication channels are greatly involved to ensure that the existing and new consumers are reached on time and make the right decision to purchase them.... This is the same case with the consumers of luxury goods.... When any product development takes into account external factors that influence the consumer's decision making, it efficiently promotes the achievement of the objectives of the business....

According to Burrow, decision making is an integral part of the life of a consumer (2008).... By the end of this essay, one should be able to get a clear picture of the consumer decision-making process, and how it is affected by the external factors covered.... IKEA is not an exception before consumers buy their products, they must go through the same process that they go through every other time they want to purchase a product.... Understanding what consumers go through is also important for making key decisions to develop, produce, price, and market different consumer goods....

External Factors Affecting Smartphone purchase 1.... Introduction The increased usage of Samsung Smartphone among many consumers has amplified research on external factors influencing its purchase.... Various external factor influence the consumer purchase behaviours on this product.... Boone and Kurz, 2010) places Smartphone as the public consumed luxury with respect to its consumption.... He furthers by suggesting that individuals are more vulnerable to influences from publicly consumed products, in which luxury products are increasingly conspicuous that product necessities....

290), the concept of perceived apparent value of luxury goods refers to the theory of consumption of luxurious products, which shows the social status.... Li and Kambele (2012; Vigneron and Johnson, 1999) suggest five perceived values that significantly influence consumer decision processes concerning luxurious brand selection.... Here, the brand value of a luxury commodity is defined as the disparity between consumer feedback to focal brands compared to unbranded goods when both products maintain the same response in marketing and equal product characteristics (e....