Consumer decision-making models - Assignment Example

Extract of sample
Consumer decision-making models

However, in case of holiday decision making, the process is not that logical and uniform.
The need for a holiday is a luxury for most people and hence their decisions are very flexible. The decision to go on a holiday is dependent as much on external factors as the aspiration of the customer. Many times, the decisions are made due to other co-customers. Also the actual purchase decisions are often made very late in the process in order to avoid risks and regrets.
While in traditional models, the customers search for a product before buying it, in case of holiday decision making the search may actually continue during or even after the experience. The decisions regarding holidays are more emotional than rational and are often dependent upon right opportunity and adaptability. Most of the holiday customers tend to fall in the ‘Affective’ quadrant of the FCB grid (Erasmus et. al. 2001).
2. The information search process for a household appliance is quite different from that of a holiday planning. In case of a household appliance, the customers recognize or feel the need of the appliance due to an unmet need say not able to have fruit juices because juicer is not available at home. However, in case of holiday planning, a holiday may simply be planned because a friend or a relative is going. ...Show more

Summary

The traditional problem solving model of consumer decision making is based on a step by step logical and rational approach to take any decision. This model generally hold true for buying products where customer recognized the need for the product, collects information about its availability, types and price ranges, buys the product and uses it. …
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