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This essay seeks to discuss the buying decision-making process that individuals go through. Moreover, it will closely discuss the steps of this process, the decision rule used, and a chart showing my decision-making process.
Steps in My Decision-Making Process
First, one should recognize a problem, which could easily be done when there is a difference between the desired and the actual situation. The difference in the two situations lies in the root of a problem questing for a solution by customers. Speaking about my desired situations, I can remember the one when I wished to have a nice pair of shoes, but the actual condition was the opposite. Therefore, I recognized a problem, the solution of which was to purchase this pair.
Considering my strong wish, I initiated an information search on the product. The required information at this stage covered the types of shoes available in stock, their price range, location of the shoe shop, the approximate price per pair, and the point of difference between various brands. I had to rely on external sources like the internet, friends, and magazines for the required information.
After obtaining all the data, I had to conduct evaluations on the alternative brands available for purchase. The alternatives I had were Tom and Bata shoe products. It should be mentioned that the basis of alternative evaluation could be the product features, brand preference, and aesthetics. Since I needed a beautiful product that would make me look spectacular, my choice was made in favor of Tom’s shoes. Because all my friends often spoke well of the product, I initiated a purchase decision because I could afford it and that my exact size was available.
After-purchase assessment of my situation proved that I was satisfied with the product because the perception I had of the product made me feel very positive. So, after trying them out, I looked better than I thought I would. Due to my expectation and perception conformed to the actual result, I concluded that the buying decision I made was correct.
Interpretation of the Type of My Decision
I am inclined to believe that my buying decision was habitual because it was made with no long planning. Besides that, this action was not obligatory if one considers this situation more carefully. In other words, the decision was made automatically. I have never purchased Tom’s products before, which does not make me a regular customer. This purchase was the first one of the mentioned companies. For that reason, I do not qualify to be called a loyal customer because loyal customers are those who regularly buy the same product for an extended or infinite period. Therefore, my buying habit should be based on inertia.
The Decision Rule Used
Furthermore, I made a low involvement decision that relied on the fact that the people around me – my friends – made the same choice of products. Another source of influence was the size of Tom’s shoe store. Consumers believe that large stores have a wide range of good products. Therefore, it could be deducted that my decision rule was lexicographic, i.e., it was less involving and was based on an important product attribute.
Thus, the buying decision is made after going through many steps. All decisions are classified into various types, such as extended problem solving, limited problem solving, and habitual ones. In my case, the decision rule exercised was lexicographic.