Decision-making
When one decides to buy a particular product it is an economic decision and expectations play an important role.
One expects best of performance, durability, and dependability from a product or a service. Expectancy can be defined as “a monetary belief concerning the likelihood that a particular act will be followed by a particular outcome.”
Act is the decision to buy a particular service or product and outcome is satisfaction or dissatisfaction from use/consumption of purchased products or service. Finally there are a number of alternatives for each product or service.
The consumer has to decide which one should be bought. In case of consumer non-durables choice is immense.
Be it shampoo, soap, wheat flour, cosmetics, garments or consumer durables like car, refrigerator, washing machine, T.V., computer or something else or services like restaurant, finance, doctor or others having long life, degree of involvement is high.
In case of short life FMCG the involvement is low and the degree of involvement is medium in case of items which have medium life and have to be replaced after some time.
The degree of involvement depends upon the level of knowledge, information, psychology, culture and social system for the same product in different settings.
The involvements are ego involvement, commitment, communication, involvement, purchase importance and extent of information research.
The decision making process is a process where by a buyer decides to purchase a particular product out of various available alternatives.
The buyer expects best of performance, durability and dependability, which he evaluates from a product. The process of selection and final selection is known as buying decision making.
When one decides to buy a particular product it is an economic decision and expectations play an important role.
One expects best of performance, durability, and dependability from a product or a service. Expectancy can be defined as “a monetary belief concerning the likelihood that a particular act will be followed by a particular outcome.”
Act is the decision to buy a particular service or product and outcome is satisfaction or dissatisfaction from use/consumption of purchased products or service. Finally there are a number of alternatives for each product or service.
The consumer has to decide which one should be bought. In case of consumer non-durables choice is immense.
Be it shampoo, soap, wheat flour, cosmetics, garments or consumer durables like car, refrigerator, washing machine, T.V., computer or something else or services like restaurant, finance, doctor or others having long life, degree of involvement is high.
In case of short life FMCG the involvement is low and the degree of involvement is medium in case of items which have medium life and have to be replaced after some time.
The degree of involvement depends upon the level of knowledge, information, psychology, culture and social system for the same product in different settings.
The involvements are ego involvement, commitment, communication, involvement, purchase importance and extent of information research.
The decision making process is a process where by a buyer decides to purchase a particular product out of various available alternatives.
The buyer expects best of performance, durability and dependability, which he evaluates from a product. The process of selection and final selection is known as buying decision making.