Essays on Consumer Behavior - Postgraduate Education Choices Research Paper

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The paper “ Consumer Behavior - Postgraduate Education Choices” is a   perfect version of a research paper on marketing. Everyone is a consumer and we consume a lot of things in our daily life in accordance with our preferences, needs and the power of buying. What we buy and how we do it and when in addition to the quantity will depend on our self-concept, perception, cultural and social background, our family cycle, age, beliefs, attitudes, personality, motivation, social class and other factors which are either internal or external to us (Del 2001).

Consumer behavior involves a process of decision making and physical activity for evaluating, acquiring, using and disposing of goods as well as services. (Perner 2010). This report involves an analysis of consumer behavior through a selection of different options for postgraduate studies in different universities and colleges. The study focuses on the evaluation of different criteria against postgraduate options for three respondents using the  compensatory decision rule method. 2. Decision Matrix creation2.1 List of Postgraduate options CQU - Master of Business Administration specializing in human resource management by distance education. Entry requirements include a bachelor's degree from a college or university in any discipline and a minimum of two years of experience in work in the management capacity (CQU 2012). USQ- Master of Business Administration specializing in Global Business Management by distance.

Entry requirements include a bachelor's degree from any discipline with professional experience in relevant works (USQ 2009). INSEAD - Master of Business Administration full time with no specialization. The entry requirements include a bachelor’ s degree in any discipline from a recognized university or college. The professional experience that is substantial is an added advantage (INSEAD 2012). LBS - Master of Business Administration in Finance in a flexible 15 to 21 months program.

The entry requirements include and a bachelor’ s degree with an average of 5.7 years of work experience in a relevant field (London Business School 2012). MIT – Executive Master of Business (EMBA), a rigorous part, time 20-month program. Entry requirements include an equivalent bachelor’ s degree with no professional work experience is required (MIT Sloan 2012). Stanford-Master of Business Administration in management and cooperate leadership (MCL) full time, Entry requirements include an equivalent three-year baccalaureate degrees from international universities.

No professional work experience is required (Stanford GBS 2012). 2.2 List of evaluative criteria Entry requirements Tuition fees Duration Distance from work/home Level of interest in the area of study Program reputation 2.3 Decision matrix Consumer perceptions Evaluative criteria CQU- MBA (HRM) USQ- MBA (GBM) INSEAD- MBA LBS- MBA (Finance) MIT-EMBA Stanford- MBA (MCL) ·                   o        Entry requirements ·                   o        Tuition fees ·                   o        Duration ·                   o        Distance from work/home ·                   o        Level of interest in the area of study ·                   o        Program reputation   3. Compensatory decision rule applicationThis rule states that the option that will rate highest on the total sum of the judgment of the consumer in relevant criteria for evaluation is the one to be chosen. 3.1 Respondent 1: Denzel3.1.1 Evaluative criteria ranking Evaluative criteria Importance in points Entry requirements 20 Tuition fees 15 Duration 15 Distance from work/home 35 Level of interest in the area of study 10 Program reputation 5 Total 100 3.1.

2 Option rating against each criterion Consumer perceptions Evaluative criteria CQU- MBA (HRM) USQ- MBA (GBM) INSEAD- MBA LBS- MBA (Finance) MIT-EMBA Stanford- MBA (MCL) ·                   o        Entry requirements 5 4 5 2 3 2 ·                   o        Tuition fees 3 4 5 3 4 4 ·                   o        Duration 2 3 5 4 4 3 ·                   o        Distance from work/home 5 3 2 2 1 1 ·                   o        Level of interest on the area of study 1 3 4 4 4 4 ·                   o        Program reputation 1 3 4 3 5 5 1= Very poor, 5= Very good 3.1.3 Calculation using compensatory decision rule CQU= 20*5 + 15*3 + 15*2+ 35*5+ 10*1 + 5*1= 100 + 45 + 30 + 175 + 10 + 5= 355USQ = 20*4 + 15*4 + 15*3 + 35*43+10*3 + 5*3= 335INSEAD = 20*5 + 15*5 + 15*5 + 35*2 + 10*4 + 5*4= 380LBS = 20*2 + 15*3 + 15*4 + 35*2 + 10*4 + 5*3= 270MIT = 20*3 +15*4 + 15*4 + 35*1 + 10*4 + 5*5= 280Stanford = 20*2 + 15*4 + 15*3 + 35*1 + 10*4 + 5*5= 195Using the compensatory rule, a Masters in Business Administration full time in INSEAD is chosen. 3.1.4 Comparison of calculated results with real choicesFrom the calculations in the matrix, it suggests that Denzel has the likelihood of choosing an MBA full time in INSEAD, France but because he works in works in Australia, he chooses to study MBA in human resource management by distance in CQU.

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