Question

Select a product that you purchased (choose one where the purchase was fairly important to you and preferably where you spent some time making the decision). Try to recall the details of the purchase process in the context of the various stages of the consumer decision making process. Share the details of your decision process using terms and concepts discussed in this chapter.

Answer 1

Let's say you purchased a television set. Here are what might have been important considerations before the purchase.

1. Price of the television set: This is definitely the most important and foremost criteria before buying.

2. Extent of necessity: You may as well have thought whether you really require this TV set right now or can you postpone it's consumption.

3. Your income: This is another important determinant of your purchases. You would have considering having a check on your bank account before taking the decision to purchase.

4. Price of substitutes: After you were sure that you want to buy yourself a TV, you might have tried comparing prices of TVs with similar configuration and features manufactured by other competing sellers to know the best price in the market.

5. Price of complements: Apart from checking the price of competing sellers, you might have considered into account the price of it's complements, such as the cost of having a satellite connections, price of HD channels, Netflix screens, etc.