Consumer decision making assignment

Impact of external factors on Consumer Decision-making process

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Abstract

A consumer’s decision making process mainly includes several internal as well as external

factors. The internal factors and their relevance in consumer decision making has already

been discussed in previous assignment. In this assignment, external factors and its influence

on the decision making process is the prime focus. I consider various external factors and

their impact on the decision making process. Further, with the help of recent related

theoretical and empirical literature, I have tried to include some factors as most influencing

relative to others in my example/ product’s purchasing decision making.

As studied in the classroom sessions, we have gone through numerous factors (external) as to

have an impact on the consumer decision making process, but, it is inferential that all factors

do not have the same influence on all product categories. It is the product’s category and

characteristics which is being influenced by a particular factor but not with another factor.

This is the most important concern of this assignment. So, here, it is imperative to identify

those factors which have influence on my chosen product in the previous assignment, i.e.

LED. Another one is to apply the relevant theories, models and literature in the decision

making process of LED and justifying the impact of certain factors on consumer purchasing

decision making in buying an LED.