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Showing posts with the label evaluation of alternatives

What process do we go through to make a purchase?

Did you know that we, as consumers, typically go through a 4-pronged process once we set out to make a purchase? Indeed, the Consumer Decision-Making Process consists of the following steps: 1. Need Recognition : A need is identified -- say, to buy something to wear for a job interview -- that the consumer now aims to satisfy. 2. Information Search : Now that the need has been established, the next step is to due my due diligence on what "look" would be appropriate for the firm in question. Obviously, I would have to research the company and see whether it would be more appropriate to wear business attire or something a little less formal. I can do this by either looking online or asking people who have worked there at one point or another. If I'm interviewing with an advertising agency, it's likely they'll be much more accepting of a polo shirt and jeans than a mutual funds firm would. 3. Evaluation of alternatives : Assuming I determined that a business...