BUS FPX 4024 Assessment 1

Consumer Decision-Making Model

Understanding Consumer Behavior in Complex Purchases

Consumer behavior encompasses a sequence of significant characteristics that people perform to address or satisfy actual needs. When customers are driven by their needs, a process emerges in which they seek an appealing solution to meet those needs. Many psychological acts, like thinking, feeling, and behaving, and ultimately arriving at the value of value, are part of this process. Successful execution of this process creates enough value to satisfy the first requirement (Babin and Harris, 2017).

The rational decision model illustrates steps in rational decision-making. The aim of these steps is to enhance the quality of the decision by minimizing the impact of prejudice, false equality, and override. Steps are:

• Identify whether any problem or opportunity exists
• Information gathering
• control the situation.
• Take decisions
• Consider alternatives
• to select a favorite choice.
• to act upon the decision.

This model offers the benefit of the decision-making process to offer structure and discipline and guarantee comprehensive ideas to affect factors (Higson, 2021). The manual “Better Decision” addresses this process on a wide scale. 

Consumer Decision-Making Model Purchase

Last month, I tested the challenging task of purchasing windows for my house. I was apprehensive about the high costs associated with replacing 16 windows in my house. The first step involved determining the project’s financial feasibility, which necessitated an initial consultation with a window store to obtain an approximate estimate.

Next, I analyzed local businesses and assessed their performance reviews (2. Aggregation of information). Upon conducting this research, deals with most companies were decided (3rd analysis of the scenario). Since the COVID-19 pandemic caused difficulties, a month was utilized to obtain deals, of which only five of three companies gave estimates (4. Options).

The BUS FPX 4024 Assessment 1 focuses on the Consumer Decision-Making Model.

Once all quotes were received and reviewed, a comparative evaluation was undertaken based on value, availability, installation date, and warranty (5. Consider options). Furthermore, online reviews by consumers on sites like Yelp and Google were reviewed again (6th decision on a favorite option). Choosing the lowest-priced offers, the warranty provided with factoring, and positive reviews in the Windows style. This choice was communicated to every company, whereby an offer was made for a price without claimed benefits (7 to take actions following the choice).

Heuristic choices serve as a cognitive shortcut for speedy decisions and issues. This process works well in speeding up decisions and was not applicable to my window purchase situation. Corresponding to the OODA loop, a decision-making socket

How the Decision Process Influenced Consumer Behavior

The consumer recovery process assists in learning how customers still purchase product awareness. Such knowledge supports the creation of effective marketing strategies to guide consumers against attaining products or services to satisfy their needs (Millwood, 2021). Drawing from various subjects such as psychology and economics has been witnessed within consumer behavior during the COVID-19 epidemic.

Based on Numerator.com, sales in the store plummeted dramatically during the pandemic, when customers embraced large-scale online shopping. In spite of slow returns to physical stores, consumer wariness. The buying trend was influenced by vaccination and pandemic experiences (Fong and Carcell, 2021).

BUS FPX 4024: Assessment 1 on the Consumer Decision-Making Model

Lewis, S. (2019, June 28). What is OODA Loop? – Definition from WhatsApp. Searchcio. On October 21, 2021, he was picked up from https://searchcio.techtarget.com/definition/OODA-loop.

Millwood, A. (2021, July 22). Understand the process of decisions about consumers. Yotpo. The information was taken from https://www.yotpo.com/resources/consumer-decision-making-process-ugc/  on October 21, 2021.

Fong, C., and Carswell, W. published their work on June 16, 2021. COVID-19 vaccine: Summer approach to consumer behavior. Part. October 21, 2021, https://www.numerator.com/resources/blog/covid-19-vaccine-summer-outlook-consumer-behavior.

BUS FPX 4024: Assessment 1 on the Consumer Decision-Making Model

Lewis, S. (2019, June 28). What is OODA Loop? – Definition from WhatsApp. Searchcio. On October 21, 2021, he was picked up from https://searchcio.techtarget.com/definition/OODA-loop.

Millwood, A. (2021, July 22). Understand the process of decisions about consumers. Yotpo. The information was taken from https://www.yotpo.com/resources/consumer-decision-making-process-ugc/  on October 21, 2021.

Fong, C., and Carswell, W. published their work on June 16, 2021. COVID-19 vaccine: Summer approach to consumer behavior. Part. October 21, 2021, https://www.numerator.com/resources/blog/covid-19-vaccine-summer-outlook-consumer-behavior.