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Consumer decision making - Essay Example

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It is essential for the entrepreneurs to do careful market researches to evaluate the consumer behaviours properly in order to get deep insights into the changing…
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Consumer decision making
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Consumer decision making

Download file to see previous pages... n opportunity to get in touch with the foreign products and they got enough opportunities to compare the quality and prices of the domestic products with that of the foreign products. Such evaluation from the part of consumers may often change their buying habits. Online marketing and e-commerce are growing day by day and based on that the purchasing decisions of the consumers are also changing. In many cases, a purchasing situation occurs out of the fear of losing social recognition or once the existing product goes out of order. Some of the people have blind belief in brand values while others are more practical. Some consumers may seek further assistance from the supplier to improve the performance of the product they purchased. This paper briefly analyses the consumer decision making attributes.
Recognition is a primary psychological need for human beings and hence most of their purchasing decisions were influenced by their desire to get recognition from others. Most of the consumers feel inferiority, if they possess old goods. In many cases, consumers postpone their purchasing decisions until they acquire ample financial resources for executing the purchasing. Once the consumer feels confidence about his/her financial abilities, the next step is to gather information about the product he/she wants to purchase. “Sources of information could be family, friends, neighbours who may have the product you have in mind, and alternatively you may ask the sales people, or dealers, or read specialist magazines. You may even actually examine the product before you decide to purchase it” (Consumer Buying Behaviour, n. d) Most of the people rely on, advertisements in television, news papers, Super markets and internet for the information regarding the product they want to purchase. They will collect information from the friends also. The User’s comments will always be valued more than anything else. Once ample information is collected about a particular product, most ...Download file to see next pagesRead More
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