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. ...
I happened to get enough information regarding the mortgage market, something that I do often before engaging myself into a purchasing process. First I sought credibility of this company as the dealer in mortgages. I then went to the industry analysis on the mortgages. I wanted also to take advantage of any incentives that would have come with choosing the best mortgage dealer. Many companies do provide mortgages but differ in various issues especially rates charged on these mortgages. There are repayment mortgages and interest only mortgages. I realized that interest on mortgages played a very important role in the choice of mortgage option. I also learnt of the mortgage regulation by the Financial Services Authority which sees to it that confidence in the financial system is maintained, public understanding is promoted, consumers are well protected and that financial crimes are avoided. There are also high interest rates on the mortgages placed by banks because of the need to cut on liquidity in the market (London & Country Mortgages, 2011). I then had to make my decision on the mortgage choice and payment. This is where things became hot! Decision-Making Process on Purchase of an Appropriate Mortgage Property in London A consumer undergoes various stages in his or her buying decision-making process which are comprised of motivation to buy the product or service, problem or need recognition that is to be addressed, search for information, evaluating alternatives that are available in the market, and making a final purchase based on the choice made. Rational decision theory indicates that consumers as decision-makers do make many strategies and tend to use some logical procedures aimed at solving
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…
Also by promoting the right individual, his motivation level would also increase thus it would further increase the productivity. There are different factors that an organization use to evaluate the performance of an individual
I had to make a decision of what I wanted to do with my life in terms of employment. I took some steps in my reasoning prior to making a full commitment to leave my job. The first step was to analyze the earnings of my current job compared to the jobs I could apply too.
The author explains that the decision-making process purchasing process progresses in five stages: recognizing needs, searching for information, evaluating alternatives, purchasing decision and post-purchasing behavior. Need Recognition is the start of the buying process, where the customers realize their need or problem.
As the report discusses consumer behavior is a theoretical concept that addresses different stages a consumer would pass through before they make a particular purchase decision. The concept of consumer behavior is important in the field of marketing because it is highly related to consumer decision making.
We just had a task to be completed in front of us, and it was all we cared for. We won't say that everything went perfectly, but, nevertheless, we got a very valuable experience in working in group and team decision making we would now like to share with you.
According to Jewellery Consumer Opinion Council, women are not waiting for the men in their lives to buy them diamonds. Of the nearly 90 percent of female respondents who say they own diamond jewellery, almost 70 percent have purchased it for themselves in the past (up five percent over the same September 2004 JCOC study), and more than 80 percent are willing to buy more for themselves in the future.
They continue with the decisions they have made. But, ‘unsuccessful’ are very sluggish to make any decision at all and they change the ones they have made very rapidly indeed (Kotelnikov, 2008).
It is necessary
s been done, I find the reasoning for it so that my decision-making does not get affected by entirely alternate evidences which might be available at one point in time in the future. I want to be 100 percent sure that my decision-making process is absolute and comprehensive from