In: Economics
(1) Prepare a two page typed, double-spaced paper that details the process of your most recent purchase of a major product. Apply what you know about end-user decision making. You should specifically examine the needs satisfied by this purchase, the sources of information you used, the other individuals who influenced this decision. Please address the way in which you decided on the important attributes to consider and how you evaluated the various alternatives.
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. Theconsumer develops a need or a want that they want to be satisfied.
We all have varying perspectives of considering our point of viewing a motorcycle. For some, it’s just one of the means of transport for their home-office-home jaunts. For some, it’s a degree of freedom, with which they can set out their holiday trips with their friends. For some, it’s a mode of status symbol, through which they can be differentiated amongst others. In short, there are a plethora of choices to spoil you out, if you are going to buy your own set of wheels, and opting one of them is not an easy cup of tea, as each offering from every manufacturer has its own significance and qualities which differentiates or betters itself from the other makes. A sense of confusion is expectable in the today’s lot of products, as all the products available lure you, banking on its engineering or design skills it comes with. It’s just the matter of need and interest which makes you out take the right decision, which ultimately introduces you to the world of motorcycling, which is an utter pleasure, a sense which you can cherish till the last moment you are attached with the bike you opt for. But taking that only right decision can be confounding, as the fact that India is the largest growing two-wheeler market of the world, is itself is a proof how difficult it is to prefer your choice over the others. So here are some crucial key factors, which can define your need, make you think over the bike you want to go for and finally allow you to take your favorite motorcycle out of its respected showroom.