Consumer decision making assignment · 2016-07-25 · The internal factors and their relevance in...
Transcript of Consumer decision making assignment · 2016-07-25 · The internal factors and their relevance in...
Consumer decision making assignment
Impact of external factors on Consumer Decision-making process
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Uploaded: May 26, 2016
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Abstract
A consumer’s decision making process mainly includes several internal as well as external
factors. The internal factors and their relevance in consumer decision making has already
been discussed in previous assignment. In this assignment, external factors and its influence
on the decision making process is the prime focus. I consider various external factors and
their impact on the decision making process. Further, with the help of recent related
theoretical and empirical literature, I have tried to include some factors as most influencing
relative to others in my example/ product’s purchasing decision making.
As studied in the classroom sessions, we have gone through numerous factors (external) as to
have an impact on the consumer decision making process, but, it is inferential that all factors
do not have the same influence on all product categories. It is the product’s category and
characteristics which is being influenced by a particular factor but not with another factor.
This is the most important concern of this assignment. So, here, it is imperative to identify
those factors which have influence on my chosen product in the previous assignment, i.e.
LED. Another one is to apply the relevant theories, models and literature in the decision
making process of LED and justifying the impact of certain factors on consumer purchasing
decision making in buying an LED.