Assignment: 'The Consumer Decision-Making Process
Whether you realize it or not, you've been a consumer all your life. The types and costs of your purchases have changed over time, but you've learned from watching others and experiencing the sensation of choosing an item and making the purchase. What you may not realize is that you've likely followed a consumer-purchase process.
For this assignment, you will do a three-part deep dive into the consumer decision-making process.
Part One. Complete the following:
• Identify and discuss the process, taking care to explain each step. Walk your reader through each step of the consumer purchase process, defining each step.
• Choose a major purchase that you plan to make in the future (e.g., a vacation, a car, a smartphone, a computer, a Hermes handbag, a horse, etc.).
• Apply each step to your purchase (e.g., identify why you find yourself making this purchase, perform an information search, evaluate alternatives using a table, make a choice and justify it, and so forth.).
You are not expected to actually make the purchase, so you may predict the outcome, as opposed to actually describing it.
Part Two. In this section, you will identify and analyze the factors that have influenced your actions and decisions throughout the process. These include:
• Personal factors that affect your perspective (e.g., faith, age, lifestyle, location)
• Pricing and personal accounting
• The type of purchase-functional versus hedonistic
• Family influence
• Ethical considerations
• Image
• Ease and place of purchase
Part Three. For this final section, synthesize your findings and analysis from Parts One and Two. Consider the following questions: What factors are strongest and least likely to change your purchase decisions? What factors are more variable? How can marketers use these insights to attract new customers and deepen relations with existing ones?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.