Review the "Consumer Purchasing Decisions" topic material. Describe the consumer decision-making process and the factors that...

Review the "Consumer Purchasing Decisions" topic material. Describe the consumer decision-making process and the factors that would most influence consumers when making their first purchase of each of the items below. Justify your selections using the topic materials.

Chewing gum
A smartphone
A new car

MUST BE MORE THAN 250 WORDS / PLEASE DO NOT RESPOND IF YOU CANNOT MEET THE REQUIRMENT

Expert Solution

Chewing gum = As the price of the product is very low many in few cents, and this is the product that is being bought by the customers quite often, the purchase will be termed as routine buying situation. The customer will not collect much of the information and he will rely on personal preferences and the advertisements. Due to the lower price of the products and the ease of use of the product and no major financial consequences of buying any defective product, the customer can buy the product without intense information search.
Smart phone= As the price of the smartphone is relatively higher and it can range up to thousands of dollars, the level of involvement of the customer in this purchase decision will be relatively higher than the chewing gum. The customer will take reference from some other users, friends and can go online to search for the relevant information. He will compare the different smartphones and compare their relative price and features and after a lot of search and comparison, the purchase decision will be taken. This product is called a specialty product and it has a medium
Car= This is a very costly product and it has a lot of financial consequences on the customer if the correct product is not purchased that fulfills the need of the customer accurately. Therefore this product buying situation will be termed as intense customer buying. In this, the customer will collect a lot of information from every possible information source. He will take a lot of time to analyze each input and compare the different alternatives on each parameter. Once he is fully satisfied with each parameter, then only the buying decision will be made.

keosha answered 2 years ago

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