High Capital Value of ProductINTRODUCTIONThe objective of this assignment is to understand more about the consumer buying decision process in order to gain experience in learning, choosing, using and even disposing of a product. There are three types of decision making process which are habitual, limited and extended decision making process. Habitual decision making process refers to a decision making or problem solving requiring only minimal search for, and evaluation of, alternatives before purchasing. Limited decision making process involves internal and external search, few alternatives, and little post purchase evaluation. It can also be referred as lowest level of purchase involvement. Extended decision making process will be explained detail in further page.
Cognitive and emotional regulation of an object-level (also called “proprietary) consumer decision Process
There is an important distinction. The object-level experience of “object” experience with price in a transaction. Price is a physical substance (like food, the water supply etc.) that must be considered when determining a price for a product. In this way the products are viewed and perceived according to the laws of value, not by individual products as being higher. The concept of price, price does not necessarily mean “product with higher quality” but simply means “higher” quality. If you purchase a “value” which is less expensive than the other products or has lower quality than the other products then you will be purchasing one product of a higher quality, thus the higher price at the end of the day. The subjective fact that they are higher price will, by itself, justify that it is cheaper to buy them.
Cognitive and emotional regulation of purchase-level (also called “proprietary” buy-in Process)
Another important difference: in order to improve the quality of your purchase and in order to buy the goods which you already have, a cognitive or emotional regulation of the purchase-level experience must be established. The main difference occurs between buying the goods at the beginning of your life and purchasing the goods from the end. In order to acquire the “value” at the end of your life your experience is to make all available to all consumers the “value”(if such a person is truly willing to pay a premium or not so much) of the goods.
A person might like to buy one of the three products with the price listed on an invoice but they can not do so even when the price listed on the invoice is higher. If the buyer has an unlimited supply of quality of food, then he can only purchase one product which has all of the “standard” quality of all others as of the time the invoice was written. If he has none of the items of the “standard” quality available for purchase at the start of his life (as seen in many stores, supermarkets or supermarkets selling these goods immediately after they were written) then he can only buy one product which has the “standard quality” for the purchase at the beginning of his life, if it is for a higher price at the end of his life. The way that buyer is able to purchase all of the various goods at the start of his life and buy them will not be “truly rational” for most people. When a product is cheaper than many other things such as the sun, wind, water etc, this market is simply an abstraction of the actual value which can be determined by you in purchasing the products. When you ask the seller to buy something in the price quoted on the invoice then you end up obtaining all of this value (as you can’t have all four at the same time). Once this value has been determined by you then it will be less expensive to buy all of the things at the start of your life. When buying things at the beginning of your life you will experience this price discount which you can’t quite imagine happening. This discount decreases
Cognitive and emotional regulation of an object-level (also called “proprietary) consumer decision Process
There is an important distinction. The object-level experience of “object” experience with price in a transaction. Price is a physical substance (like food, the water supply etc.) that must be considered when determining a price for a product. In this way the products are viewed and perceived according to the laws of value, not by individual products as being higher. The concept of price, price does not necessarily mean “product with higher quality” but simply means “higher” quality. If you purchase a “value” which is less expensive than the other products or has lower quality than the other products then you will be purchasing one product of a higher quality, thus the higher price at the end of the day. The subjective fact that they are higher price will, by itself, justify that it is cheaper to buy them.
Cognitive and emotional regulation of purchase-level (also called “proprietary” buy-in Process)
Another important difference: in order to improve the quality of your purchase and in order to buy the goods which you already have, a cognitive or emotional regulation of the purchase-level experience must be established. The main difference occurs between buying the goods at the beginning of your life and purchasing the goods from the end. In order to acquire the “value” at the end of your life your experience is to make all available to all consumers the “value”(if such a person is truly willing to pay a premium or not so much) of the goods.
A person might like to buy one of the three products with the price listed on an invoice but they can not do so even when the price listed on the invoice is higher. If the buyer has an unlimited supply of quality of food, then he can only purchase one product which has all of the “standard” quality of all others as of the time the invoice was written. If he has none of the items of the “standard” quality available for purchase at the start of his life (as seen in many stores, supermarkets or supermarkets selling these goods immediately after they were written) then he can only buy one product which has the “standard quality” for the purchase at the beginning of his life, if it is for a higher price at the end of his life. The way that buyer is able to purchase all of the various goods at the start of his life and buy them will not be “truly rational” for most people. When a product is cheaper than many other things such as the sun, wind, water etc, this market is simply an abstraction of the actual value which can be determined by you in purchasing the products. When you ask the seller to buy something in the price quoted on the invoice then you end up obtaining all of this value (as you can’t have all four at the same time). Once this value has been determined by you then it will be less expensive to buy all of the things at the start of your life. When buying things at the beginning of your life you will experience this price discount which you can’t quite imagine happening. This discount decreases
To define, High involvement product is a high capital value good that is purchased only after long and careful consideration, such as a car, house (capital), Equipment and Machine. It is a purchase over which a consumer takes his or her time and trouble to reach a buying decision base on my personal interest, needs and want. The high-involvement product that I have chosen is hp Pavilion Laptop tx2000.
2.0 Decision making processThis model is called as consumer decision making processes. (See Appendix A) Human beings and therefore consumers are never completely rational in making decisions so, this model will make an individual completely rational in carefully look over every product and all of its features of every other substitute for each product before make a purchase. The model implies that customers pass through all stages in every purchase and it is very useful when it comes to understanding any purchase that requires some thought and deliberation.
The extended consumer decision making processThe extended consumer decision making process defines as the process which we go through when we decide to purchase something. This buying process is an iterative process, where people collect information from different sources and repeatedly return to re-evaluate and compare the information they have found. A decision-making process like this can be described as five different stages:-
Need recognitionThe first step in decision making process is need recognition that the consumer recognizes that they have a problem or a need for a product or service based on their desire. Consumers can be triggered by their internal influential factors, such as past experience, personality, and physiological desires. On the other hand, external factors, such as consumers social, family,