Asked in Business & FinanceBusiness PlansMarketing Advertising and Sales
Factors that influence decision making?
April 02, 2009 10:43AM
Firstly, decisions are made everywhere and all the time. Some have a short-term effect where as others have a long term effect/s. The decisions need to be made very carefully when it comes to purchasing a long term asset or investment. Again, if decisions are to be made relating to FOR EG. "which soap one wants to buy?", it should not consume too much time. However, here the human nature comes in. Some people consider soaps too be of relative importance whereas certain people consider it to be an important decision since it deals with their body and skin. hence decisions are influenced by internal as well as external factors.
Some of the factors include TIME, EXPECTATIONS, PURCHASING POWER AT THE TIME OF PURCHASE, COST OF THE GOOD/S OR SERVICES TO BE PURCHASED, REPUTATION OF THE COMPANY FROM WHICH THE PRODUCT IS BEING PURCHASED, PREVIOUS EXPERIENCES, WEATHER/CLIMATE/ENVIRONMENTAL CONDITIONS, RECOMMENDATIONS MADE NY FRIENDS WHO HAVE USED THAT PRODUCT, SNOB EFFECT, THE PHYSICAL STATE OF MIND AT THE TIME OF PURCHASE, RELATIONSHIP WITH THE SHOP/STORE OWNER/RUNNER, QUALITY OF THE PRODUCT, DISCOUNTS/OFFERS/SALE.
However, all the above related to decisions related to buying decisions.
But decisions are made even for career, marriage, partner, etc.... Hence, the whole scope is too wide. PLS NRROW IT DOWN BY SPECIFYING WHICH DECISIONS ARE YOU REFERRING TO..
Hope I was of help!