Question

Think about your current or past employer and possible decisions they may have had to make in the past regarding a make or buy decision. What do you think the relevant costs were in making this decision ( be specific)? Also, many managers make these decisions based on short-term results and decisions are not always based on ethical considerations. Comment on your employer example and the short term vs long term factors and ethical considerations that may have (or should) have gone into the decision to make or buy.

Answer 1

Answer;-

• Ask them about how they became aware of the product:

• Hello His name is Rakesh Kumar & he is my office colleague and he recently purchased a mobile device of redmi 3s prime & he came to know about product through online sale & he got information through promotion received a mailer on his personal email account & after getting a huge discount with a nice configuration which seems to be a good worth of money to him which made him interested in the Deal he went for the deal without thinking twice & without even caring brand image,
• What about the product interests them :

• He is a big time interested in good discounts & offers so the products becomes secondary when it is available in a good discount so the products can be of any brand he shows huge interset when it is available at good discount rate,
• How they compared the product to competing products : The one of easiest way which is available now is comparing product online on different websites which is more easier than going to the market and checking product so if there is a competing product in the market you get to know easily on the websites without wasting too much time,
• How they made their final decision :

• After a huge research they prefer making their final call after researching product online with the lesser budget & maximum features & good configuration,

• My Consumer Decision Process

• Please find the below decision process which i usually follow:

1. Recognizing the need : Realizing you need that product at that time for an example you buy a formal dress as soon as you decide to appear in an interview so that time you recognize the need,
2. Do a Detailed Research : After Realizing I need a product it is the time to do a research on that product let’s say starting finding a formal dress for you may be online or could be offline and if I like the brands then it is time to search for that brand available in the market and if it is available in the discount then it is always an icing on the cake,
3. Time for an Evaluation: so after selecting the brand and mode of buying product online or buying from a market time has come to evaluate that product that it has to be worth of money I spend,
4. Opting & Purchasing: After doing above 3 steps and doing a proper evaluation of product I decide & go for it decides should i buy it online or from a any other store in the market,
5. Postpurchase Evaluation: Now Evaluating product post the purchase & deciding that it has everything I was looking for an example checking mobile features after buying it.
6. Disposal: After post purchase evaluation you might look for a better version or if I don’t like then I give it to someone or sell it.

Consumer decision Process is as same as mine mentioned above

• Specifically, consider how different internal or external factors affected the process, such as culture, subculture, age, personality, or attitude: These factors does matter a lot such as people from different culture always has a different taste so their preference is always different,
• AGE: It is a big factor where in the choice changes with time for an example a kid prefers games in the phone and an adult prefers daily use applications,
• Personality: It is one more factor where in people at higher post or a rich business man prefers buying an expensive product which makes their different image.