Factors that influenced your decision on the retailer/brand/product

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Think of a relevant PRODUCT or SERVICE you RECENTLY PURCHASED (NOTE: not allowed – food, coffee, groceries, car wash, movies, music, or any low-ticket frequent purchase).
Answer the 5 questions on the search process you went through, using terminology from the textbook and respecting the word count for each response.
Describing Your Search Process (question and answer format):
Specify the following:
Product
Seller (Retailer/Store/Brand/Website)
Price
Date of Purchase
How did you become aware that you wanted or needed that product (the first step of the Consumer Decision Process)? (min. 100 words)
Describe how/where you looked for information to better help you make a decision (the second step of the Consumer Decision Process). (min. 150 words)
List 3 retailers/brands/products you considered when doing your alternatives evaluation and explain why they ranked higher than other options available (the third step of the Consumer Decision Process). (min. 180 words)
What were the 3 main factors that influenced your decision on the retailer/brand/product you ended up buying from when evaluating your best alternatives ((the fourth step of the Consumer Decision Process)? (200-300 words)
After you made the purchase, how did you feel? Satisfied? Dissatisfied? Explain why. (Last step of the Consumer Decision Process)? (150-200 words)

Sample Solution

How and why do people make a decision to buy? Well this is indeed a difficult question to answer as there are many different types of buyers, some being those basic impulse buyers and some are those who use a totally intense system and make thorough investigation before making a purchase decision. While these different types of buyers take their purchase decision in different ways there are 7 important factors that influence all the buying decisions. Factors That Influence The Buying Decision, Contact Discovery, Influencing Customers Buying Decisions, iSN, iSN Global Solutions, Sales Support Services, Account Profilling.

The foregoing is argued to beget mistrust between the two parties, particularly from the shareholders (employers). Consequently, the mistrust increases the inclination of enhanced monitoring of the agents’ (directors and managers) activities. Upon the foregoing principle lies the foundation of auditing profession (Millichamp & Taylor, 2008). The theory further expounds on the principle agent problem, that is, agency dilemma. The dilemma is said to be occasioned by the inclination of the agent’s inclination to act in his own best interest rather than those of the principal. There is a likelihood of moral hazard and conflict of interest arising in the corporate scene.

It is exemplified that, the principal (shareholders) may be sufficiently concerned that at the likelihood of being exploited by the agent (directors and managers) that a dilemma may arise in hiring the right agents. The foregoing is necessitated by the desire to minimize or get rid of agency costs (Bebchuk & Fried, 2004). According to Adams (1994), the agency theory can provide for richer and more meaningful research in the internal audit discipline. Agency theory contends that internal auditing, in common with other intervention mechanisms like financial reporting and external audit, helps to maintain cost-efficient contracting between owners and managers.

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