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Strategy Decision-Making and Human Resource

In: Business and Management

Submitted By louisachew
Words 2086
Pages 9
TABLE OF CONTENTS

1. INTRODUCTION 2

2. FACTORS INFLUENCING CONSUMER DECISION 3 - 7

3.1. Process of Consumer’s Decision 3

3.2. Consumer Decision 4

3.3. Branding 4 - 5

3.4. Brand Awareness 5

3.5. Empowered Consumers 5 - 6

3.6. Types of Loyalty 6 - 7

3. Conclusion 8

4. References 9

How does a consumer decide if a marketer's brand is superior to others; does he make decisions in a linear, logical manner or in a circuitous, heuristic fashion?

1. INTRODUCTION In our contemporary world, an organisation strives hard to get their market share by competing with each other in terms of quality, price and timeliness of delivery. Moreover, due to increasing international trade changes such as free trade agreements, trade and manufacturing globalisation as well as privatisation, organisations are compelled to compete on both local and international fronts. Unless an organisation is able to satisfy the demands of consumers, it will not survive in such a competitive business world. Of recent, consumers are more cognizant of various brands of a particular product or service available. In general the consumers make a decision to buy any product or service if they are confident about the brand. This paper analyses how the consumer decides if a market brand is superior to others and whether he makes his decision in a linear and logical manner or in a circuitous and heuristic fashion.

2. Factors influencing consumer decision 2.1. Process of the consumer’s decision

At any given point of time, potential customers form impressions of any brand from various touch points like...

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