Section 3: The Types of Consumer Buying Decisions (about 400 words)
Consumer buying decision refers to the choices during purchasing made by a consumer. There are four types of consumer buying behaviour, namely; complex, dissonance-reducing, habitual, and variety-seeking (Kotler & Armstrong, 2010). They differ in the amount of involvement and qualities of each (Kotler & Armstrong, 2010). During the purchase of a classic car rental the most relevant would be the complex buying decision which will be elaborated on. Complex buying decisions are choices that are only arrived at after an immense decision making process. This type of decision making is often made during the purchase of products that are of high value, rarely bought, unsafe, and self-demonstrative …show more content…
Listed below are the six steps as explained by Tanner & Raymond (2012) and examples of the decision making process:
1. Need recognition- The first and key step to the decision making process is the consumers identification of their need(s). For example in this particular case of a classic car rental service, an individual who needs to rent a classic car may need to do so because of;
• Easy and free movement during holiday
• Fulfilment of a life goal
• To create or maintain a social …show more content…
To fulfil the demands of the consumer these four components must be understood and met (Business Case Studies, 2015). According to King (2015) classic car rental is cheaper and most popular in the United States. It would therefore be in the interest of the business to establish the company in United States. Merged with an already established business, it would gain more public recognition in an already diverse and large market (King, 2015). Online care hire booking has a seen a great amount of success and growth over the years among tourists particularly (King, 2015). The business is advised to establish an online booking facility that allows the processing of all documentation beforehand. This allows the business deliver hired vehicles to the airport for tourists. This makes the product even more lucrative for tourists. According to King (2015) another key thing would be to set a policy that rents out the vehicles on full gas tanks and requires them be returned on full gas tanks this was seen to be preferred by customers. Because car hire is more popular among the middle aged who are earning an income but have a number or expenses and responsibility (King, 2015). It would be in the company’s best interest to price their services at a price that is both affordable and profitable. Loyalty and membership services provide good customer retention and are enticing for
Consumer buying decision refers to the choices during purchasing made by a consumer. There are four types of consumer buying behaviour, namely; complex, dissonance-reducing, habitual, and variety-seeking (Kotler & Armstrong, 2010). They differ in the amount of involvement and qualities of each (Kotler & Armstrong, 2010). During the purchase of a classic car rental the most relevant would be the complex buying decision which will be elaborated on. Complex buying decisions are choices that are only arrived at after an immense decision making process. This type of decision making is often made during the purchase of products that are of high value, rarely bought, unsafe, and self-demonstrative …show more content…
Listed below are the six steps as explained by Tanner & Raymond (2012) and examples of the decision making process:
1. Need recognition- The first and key step to the decision making process is the consumers identification of their need(s). For example in this particular case of a classic car rental service, an individual who needs to rent a classic car may need to do so because of;
• Easy and free movement during holiday
• Fulfilment of a life goal
• To create or maintain a social …show more content…
To fulfil the demands of the consumer these four components must be understood and met (Business Case Studies, 2015). According to King (2015) classic car rental is cheaper and most popular in the United States. It would therefore be in the interest of the business to establish the company in United States. Merged with an already established business, it would gain more public recognition in an already diverse and large market (King, 2015). Online care hire booking has a seen a great amount of success and growth over the years among tourists particularly (King, 2015). The business is advised to establish an online booking facility that allows the processing of all documentation beforehand. This allows the business deliver hired vehicles to the airport for tourists. This makes the product even more lucrative for tourists. According to King (2015) another key thing would be to set a policy that rents out the vehicles on full gas tanks and requires them be returned on full gas tanks this was seen to be preferred by customers. Because car hire is more popular among the middle aged who are earning an income but have a number or expenses and responsibility (King, 2015). It would be in the company’s best interest to price their services at a price that is both affordable and profitable. Loyalty and membership services provide good customer retention and are enticing for