Consumer Decision-Making process
Student’s name
Institutional affiliation
Date
Consumers have a decision-making process that they get involved in before making final decisions on what products or services to purchase. This cognitive decision-making process depends on many different things and consists of three types, namely extensive decision-making, limited and routine decision-making processes. Extensive decision making refers to a situation where consumers will take their time to gather information about a product and compare it against other products from different companies (Stankevich, 2017). This process takes relatively longer than other decision-making processes. Typically, a consumer would like to get the best product before deciding to buy it. For example, I had undergone an extensive decision-making process when I was purchasing a laptop. I had to look at different companies and their specifications before I made my choice. My reason for doing this was, the laptop costs much, and it will be of use for a long time, and I have to make sure I have made the right choice because wrong choices will have long lasting effects.
Limited decision making among consumers takes relatively less time than the extensive decision-making process. In this case, the buyer makes a purchase basing on recommendations made by others basing on their experience or use of the product. Mostly, the recommendations may be in the form of word of mouth. The buyer then takes the word for it and makes a purchase basing on positive feedback by other consumers who have bought the item. When I was considering purchasing a face cream, a friend told me to try out one of the products made from natural oils. Because they said it was good for them, I bought them.
Finally, the routine decision-making process involves purchasing products based on previously gathered information about the item. It is the purchase made because the consumer usually buys the product any time they need it. Since I was young, I have been using paracetamol tablets from a specific company when I have headaches. I don’t have to think about any other one because they work just fine.
References
Stankevich, A. (2017). Explaining the consumer decision-making process: Critical literature review. Journal of. Retrieved from https://www.researchgate.net/profile/Bojan_Obrenovic/publication/335491132_Explaining_the_Consumer_Decision-Making_Process_Critical_Literature_Review/links/5d68f0df92851c154cc5c252/Explaining-the-Consumer-Decision-Making-Process-Critical-Literature-Review.pdf