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Decision Making Process - Essay Example
Author : macyfritsch
Pages 9 (2259 words)
Application of the Consumer Decision Making Process to the Purchase of an Appropriate Mortgage Property in London (Name) (University) (Course) (Tutor) (Date) Introduction Consumer decision making process and consumer behaviour are issues that have elicited much debate and research in the recent times…
Doing this entails a thorough understanding of the micro and macro environment that defines the given consumers that a firm needs to serve. The most important point to note is the fact that consumer buying choices and decisions making process are things that get influenced by external factors which need to be handled by internal processes that could take place through social interactions. Consumer decision-making process has more to do with the patterns of behaviour that are preceded by consumers, determining and making them follow certain decisions with the sole aim of satisfying their individual or group needs based on products and services (Wu-Chung & Tzung-Cheng, 2010, pp.3530-3540). The mortgage market is experiencing numerous changes and has grown more volatile following the current financial crisis that has been most of the times blamed on poor handling of mortgages by various firms and stakeholders. This paper looks at the consumer decision-making process for the purchase of an appropriate mortgage following acquisition of some sufficient capital sourced from an uncle. The transaction will thus be analysed based on this theory in order to establish what went on as far as my decision-making process was concerned regarding the mortgage transaction. ...
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