The paper “ Prerequisites of Buying Decision Making Process and Behavior” is an engrossing example of coursework on marketing. All consumers are involved in decision making irrespective of their age, religion or nationality. The study of the process of decision making is known as the consumer’ s behavior (Kotler, 2009). The analysis of the consumer decision making looks at the steps the consumers follow in making their decisions and the type of the decision that they make. In order to make a purchase, the consumer has to go through five distinct steps. The steps are recognizing the need, looking for information, looking at alternatives and lastly the post-purchase behavior (Lamb, Hair & McDaniel, 2004).
The process of decision making is affected by both internal and external factors. Internal factors include; perception, learning, motivation, personality & attitude while the external factors are; group influence, family, culture, subculture and social class. This report will look at the consumer decision making process with respect to both internal and external factors. This will be done through an analysis of a real-life example of a decision to purchase a luxury car by my friend. Case overviewDuring the past month, a close friend made the decision to purchase a luxury car.
This was expenditure worth a lot of cash and he had to take time before coming to a final decision of making a purchase. I involved him in doing my research on the consumer buying behavior and got firsthand information on internal and external factors affecting the purchase decision. External factorsCultureCulture refers to the things that are leaned and shared with other members of society. These include the norms, values, skills, morals and behavior.
The most important aspect of culture in consumer decision making is the value (Hofstede, 2001). This is due to the fact that values have a great effect on the way people behave. Some of the vales that affect consumer purchases are happiness and security. According to my friend, the purchase of the car was affected by the fact that he wanted to be happy. The decision to purchase the vehicle was influenced by the cultural value of happiness. SubcultureNot everyone in a certain culture behaves in a certain way.
A culture is composed of subcultures with different characteristics. The subcultures are defined on the basis of ethic, geography, religion, age, and sex among others. The subculture shares the elements of the entire culture but they have their own unique cultural elements (Hofstede, 2001). To make a purchase of a luxury car, a subculture such as age plays a vital part. Young people will be more interested in making a purchase for a certain type of luxury car based on the design and the generation preference. Social classSocial class plays a role in making a purchase decision.
This is a group of individuals who share the same status, behaviors, income or same level of wealth. Social class can be segmented into affluent and non-affluent. My friend can be classified as affluent. This is a social class that has higher income and wealth. The decision made by this group does not price sensitive. The purchases that the affluent make are supposed to reflect their position in society. Being affluent, one is able to make a purchase of a luxury car as a status symbol.
The main aspects that the affluent looks in this type of purchase are quality and leisure. For the nonaffluent, making such a purchase is hard due to the cost involved and would be more likely to go for a cheaper alternative.