19 Sep Decision Making Process All of us need things and want things.
Decision Making Process
All of us need things and want things. While we can debate the difference, one thing is clear—we are all consumers. Watch the video, and then choose one of the items (a mini-van, computer, or watch) and think about the stages that you may pass through if you were to actually purchase the item.
For this assignment, you will actually go through the first four stages in the cognitive consumer decision-making process, just as if you are purchasing the item based on a real problem you are seeking to resolve. These stages include (a) Problem Recognition, (b) Information Search, (c) Evaluation of Alternatives, and (d), Product Choice. You are to journal each stage of the decision-making process, and then predict the most logical outcome (Stage five—Outcomes). Your journal will be organized in a typical Word document using 12-pt Times New Roman font—1/2″ margins. You will submit that document.
CategoryPoints%DescriptionCritical Thinking 50 Put your best foot forward in this class. Critical thinking is important here and substantive answers will score much higher than one-sentence answers.Organization and Accuracy 30 All six sections are present, in order, and clearly demarcated.Grammar and Spelling 30 The paper will exhibit proper grammar, sentence structure, and correct spelling. (Each instance will result in a one-point loss.)Total 100100A quality paper will meet or exceed all of the above requirements.
Use the template below for your paper (A though F) and make sure to answer the questions in each stage within your answer.
- Stage 1—Problem Recognition
- What is the problem that purchasing this product will solve?
- How will it solve the problem?
- Is your problem a need recognition or an opportunity recognition?
- Stage 2—Information Search
- Where will you go to research the possible solutions to your problem?
- Will it be an internal or external search? Will you use a cybermediary?
- Stage 3—Evaluation of Alternatives
- Discuss your evoked set and your consideration set. What criteria did you use (rules) that caused you to select these particular alternatives?
- What product features are most important to you, and do these alternatives all have the same features? If not, how do they differ?
- Stage 4—Product Choice
- What product did you choose? Why?
- Did you experience feature creep?
- Stage 5—Receipt of the Product
- Although you did not actually take receipt of the product, what are you expecting in regards to customer satisfaction?
- Can you imagine there being any buyer’s remorse? Explain.
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