This assessment task consists of the following parts.
A. Please keep a diary of your consumption for a month. Then report 3 purchase activities you made during that period. The 3 purchases should be based on habitual, limited, and extended decision making respectively. For each of these decisions that you made please indicate 1) what was bought ; 2) what kind of purchase it was (habitual, limited, extended) and why the purchase fits that category; 3) what triggered problem recognition; 4) how much time was spent on information search; 5) how many alternatives were considered before making your choice.
B. Please develop a list of 6 different options that can all address the problem leading to your extended purchase. For example, if the extended purchase you made was a white 2006 Ford Falcon sedan with automatic transmission, you can include in your list this vehicle and 5 other vehicles with 5 different brands. Furthermore, you may wish to include indicative prices or pictures of the options you have chosen to include.
Develop a second list of at least 6 evaluative criteria (Chp 5 of your text) that people might consider when choosing among these options– for example, brand, price, body type, year, transmission, colour etc for vehicle options.
Place these two lists in a decision matrix (example in textbook).
C. Show this decision matrix to 3 people.
Ask them to rank the evaluative criteria – how important is each criterion in determining THEIR choice among these options? (For example you might ask them to allocate 100 points in total to the evaluative criteria depending on the relative importance of each criterion).
Ask them to rate each option on your list against each of the criteria (for example, using a scale of 1 – 5, option one might score well on criterion one and get a 5 while it is poor on criterion two and gets a 1.)
Using the compensatory decision rule calculate which option your respondent is most likely to choose based on the matrix. Is this the one they would have actually chosen? If there is a difference, please provide a brief explanation.
D. Using the theoretical areas below, analyse and explain the behaviour of your respondents. Try to explain the differences between their criterion rankings and choices using theory from:
Demographics (age, gender, family situation, income, ethnicity etc)
Personality (choose a couple of traits that are apparent to you from knowing this person, you do not have to subject them to a personality test!)
You MUST use theory to support your argument and analysis. Your report requires support from a minimum of 10 journal article references.
Do the Conjunctive as in the Power-point I add using the same method
Your report should follow the subsequent structure:
- title page;
- executive summary;
- table of contents;
- introduction;
- reporting of purchases
- creation of decision matrix;
- application of compensatory decision rule;
- analysis of behaviour;
- conclusion;
- reference list.