Name: RUTWIK PATIL

Roll No. C043

MARKETING MANAGEMENT ASSIGNMENT 1

CONSUMER DECISION MAKING

Step 1 : Problem recognition

Anvi and her husband want to own a house for the following reasons :

1. Tax benefit and save money : The newer the mortgage, the higher the
interest payment each month that means greater tax breaks. Real estate
taxes are deductible, providing great benefits to the homeowner. Homeowners
often find that owning a home costs substantially less than renting a home.
2. House prices tend to rise over time; a home purchase is one of the best
investments one can make.
3. They want a peace of mind of owning their own house.

Step 2 : Information Search

1. Personal Search : This includes family, friends, neighbors,

acquaintances, etc.
2. Commercial source: This includes advertising, salespeople, dealers,
packaging, display, etc.
3. Public sources: This includes mass media, consumer rating
organizations, etc. they also become confidential to provide
information.

Step 3 : Alternatives Evaluation

Buying a home for the first time is a lifetime decision. Anvi and her husband want to
evaluate multiple houses before finalizing the best.

High involvement buying involves products with many differences. The behavior is
more complex and the research is more detail oriented. Anvi and her husband
compare houses on the basis of various factors like:
 1. Location : The proximity of important services, neighborhood, lifestyle,
availability of civic amenities, Quality of Infrastructure, future development are
various factors that come under location.
2. Mortgage Rates
3. Maintenance
4. Compromises to be handled

Step 4 : Purchase decision

At this stage of the buyer decision process, the consumer buys the product. After the
alternatives have been evaluated, consumers decide to purchase products and
services. They decide to buy the best brand. But their decision is influenced by
others’ attitudes and situational factors.

In this case Anvi and her husband decide to buy the finalised home that serves their
expectations.

Step 5 : Post-Purchase Evaluation

In this stage, the consumers Anvi and her husband determine if they are satisfied or
dissatisfied with the purchasing outcome.If the home falls short of expectations,
they are disappointed; if it meets expectations, they are satisfied; if it exceeds
expectations, they are delighted.

Consumers go through the 5 stages of the decision process to purchase any goods
or services.