0
What are the elements that influence consumer decision making process?
Wiki User
∙ 11y ago
your ma
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the process of consumer decision making?
Recognize a need
What factors influence the consumer decision-making process?
1.price of the commodity 2.his/her financial health 3.substitutes and complementary goods 3.consumer tastes and behaviour 5.the social environment 6.the weather parttens 7.the gvt policies 8.the opportunity cost
How are decisions and the decision processes for business markets similar to those of consumer markets?
The question needs to be narrowed a bit. A distinction must be made to differentiate between the meaning of business decisions and decision processes. All business decisions are made through a formal or informal decision making process. Since the primary objective of a business is to maximize profitability, the decision process as it relates to that objective would be to assess the decision options and associated risks.The decisions and decision processes of consumers, on the other hand, can also be defined in economic term. I am assuming that the question relates to consumer purchase decisions based on product utility received by the consumer and price paid by the consumer. The consumer would normally go through a purchase evaluation process to determine if the product price justifies the utility that the consumer will enjoy.In this context, there is some similarity between business and consumer market decision making processes in terms of the economic benefit to be gained by the decision makers: profit maximization for a business and product utility maximization for a consumer. Both types of decisions involve risks and opportunity costs for both business and consumers.
What is the consumer purchase decision process occurs when consumers scan their memory for previous experiences with products or brands?
internal seach
What are the stages in consumer buying process?
There are six stages in the consumer buying process. There are: Problem Recognition which is considered as the most important, Information Search for recognizing the problem, Evaluation of Alternatives for evaluation of the product, Purchase Decision where the purchase decision falls, Purchase where the customer has decided to purchase and the Post-Purchase Evaluation where the insights of the customer of being satisfied or not.
State the impact of Psychological influences on the consumer decision process?
Psychological influences play a significant role in the consumer decision process by shaping attitudes, perceptions, and behaviors. Factors like motivation, perception, learning, beliefs, and attitudes can influence how consumers evaluate products, make purchasing decisions, and form brand preferences. Marketers can utilize these psychological influences to tailor their marketing strategies and effectively target consumer needs and preferences.
What is the process of consumer decision making?
Recognize a need
What factors influence the consumer decision-making process?
1.price of the commodity 2.his/her financial health 3.substitutes and complementary goods 3.consumer tastes and behaviour 5.the social environment 6.the weather parttens 7.the gvt policies 8.the opportunity cost
How do friends influence decisions?
Friends influence decision when you share most problems with them. During this process they make suggestions which are adopted as solution.
A step in the consumer decision-making process is a result of an imbalance between actual and desired states?
Evaluation of alternatives
How are decisions and the decision processes for business markets similar to those of consumer markets?
The question needs to be narrowed a bit. A distinction must be made to differentiate between the meaning of business decisions and decision processes. All business decisions are made through a formal or informal decision making process. Since the primary objective of a business is to maximize profitability, the decision process as it relates to that objective would be to assess the decision options and associated risks.The decisions and decision processes of consumers, on the other hand, can also be defined in economic term. I am assuming that the question relates to consumer purchase decisions based on product utility received by the consumer and price paid by the consumer. The consumer would normally go through a purchase evaluation process to determine if the product price justifies the utility that the consumer will enjoy.In this context, there is some similarity between business and consumer market decision making processes in terms of the economic benefit to be gained by the decision makers: profit maximization for a business and product utility maximization for a consumer. Both types of decisions involve risks and opportunity costs for both business and consumers.
What is the consumer purchase decision process occurs when consumers scan their memory for previous experiences with products or brands?
internal seach
Which stages of the consumer decision-making process are affected most by comparison shopping on mobile platforms?
chew mamaw ou
What this tactic is intended to do to Julio's decision-making process.?
There are 5 steps in a consumer decision making process a need or a want is recognized, search process, comparison, product or service selection, and evaluation of decision. Most decision making starts with some sort of problem. The consumer develops a need or a want that they want to be satisfied.
What are the stages in consumer buying process?
There are six stages in the consumer buying process. There are: Problem Recognition which is considered as the most important, Information Search for recognizing the problem, Evaluation of Alternatives for evaluation of the product, Purchase Decision where the purchase decision falls, Purchase where the customer has decided to purchase and the Post-Purchase Evaluation where the insights of the customer of being satisfied or not.
What factors that affects consumer decision making process?
There are many factors in the economic decision making process. One is which goods consumers like better than others. Others include price and quality. All of these factors create and individuals demand curve.
Influence of advertisement on product choice of the consumer?
Advertising can influence consumer decision making in many ways. It can appeal to a cultural value, and lifestyle desire or the consumers need to belong to a higher social class.Example: Promoting an item like ice cream as 'classy' in advertising, can influence a consumers decision making process to want to belong to a more prestigious group. It has an impact on a consumers 'affective choice' and it makes them 'feel' a certain way.Consumers use different decision rules (conjunctive, disjunctive, elimination by aspects, lexicographic and compensatory) for some purchases (not affective choices), if you work out where the product fits against other competitors in the decision rule the consumer is most likely to use, you can use advertising to strengthen the position of your product.There are so many different ways that I could write a book, so just look at an ad and think what could that be appealing to, to increase the chance of a purchase.Source(s):Google search the five decision rules to look at some lecture slides which will explain them more.I'm a a marketing student.
