Jaime, a graduate student has been diligently saving up to buy a car within the $5,000 to $6,000 price range. He narrows down his options to a practical Honda crv and a beloved ford mustang. Despite the emotional pull towards the mustang, practical considerations such as trunk space, winter conditions, and the need for seating for his siblings make the crv a more rational choice.

1. DEAR DIARY
MY HEART IS RACING TO BUY A CAR
Presented by :-
(group-2)Team 2

2. CASE SUMMARY
• Jaime, a g r ad u ate stu d en t h as b een
d ilig en tly sav in g u p to b u y a car
w ith in th e $ 5 ,0 0 0 to $ 6 ,0 0 0 p r ice
r an g e.
• H e n ar r o w s d o w n h is o p tio n s to a
p r actical H o n d a cr v an d a b elo v ed
f o r d mu stan g .
• D esp ite th e emo tio n al p u ll to w ar d s
th e mu stan g , p r actical
co n sid er atio ns su ch as tr u n k
sp ace, w in ter co n d itio ns, an d th e
n eed f o r seatin g f o r h is sib lin g s
mak e th e crv a mo re ratio n al
ch o ice.

3. ISSUED TO BE ADDRESSED
• Financial considerations
• Research and decision making
• Alternative transportation
• Practical v/s Emotional decision making
• Long term impact

4. QUESTIONS
• 1. Describe Jaime’s dilemma in this case.
• 2. What steps are required for Jaime to make his final decision?
• 3. How does the author balance his utilitarian needs against his
hedonic needs?
• 4. What are his alternatives?
• 5. Develop a decision model taking all possible alternatives into
consideration.

5. V/S
Honda CR-V Ford Mustang convertible
1. Describe Jaime’s dilemma in this case.

6. IMPORTANCE OF BALANCING
PRACTICALITY AND PASSION
IN DECISION-MAKING
• Practicality ensures functionality and
fulfills essential needs, especially in
professional settings.
• Passion can enhance personal
satisfaction and provide a sense of
fulfillment but may not always align with
practical requirements.
• Balancing both aspects is crucial for
making well-rounded, informed
decisions that cater to both immediate
and long-term needs.

7. BALANCING UTILITARIAN AND
HEDONIC NEEDS
• The Honda CRV caters to Jaime's utilitarian needs, providing functionality for work and family
requirements.
• The Ford Mustang fulfills Jaime's hedonic needs, appealing to his emotional attachment and
childhood dream of owning a sports car.
• Jaime faces an internal struggle between choosing a rational, practical option and satisfying his
emotional desires.
Option 1
Jaime can opt for the Honda
CRV, prioritizing practicality and
functionality for his current and
potential professional and family
needs.
Option 2
Jaime can choose the Ford
Mustang, fulfilling his emotional
attachment and long-held dream
of owning a sports car, even
though it may not meet his
practical requirements as
effectively
Alternatives

8. Honda CR-V Ford Mustang
Power 180 HP @ 6800 RPM 450 HP @ 7400 RPM
No. of gears 5 6
Transmission Automatic Manual
Trunk Large (spacious) Small
Seating capacity 5 Ideal for 2
Fuel consumption and
Drive type
15 kmpl and AWD 8 kmpl and RWD

9. HONDA CRV V/S FORD MUSTANG
Honda CRV Ford Mustang
• Spacious trunk ideal for transporting
boxes, meeting professional
requirements
• Adequate seating for accommodating
siblings and going on family road
trips
• All-wheel drive (AWD) suitable for
driving in varying weather conditions
• Reliable reputation and positive
feedback from other users
• Reasonable insurance premium and
gas consumption
• Strong emotional appeal and
personal satisfaction for the
protagonist
• Stylish design and iconic status,
fulfilling a long-held dream
• Thrilling driving experience and
powerful engine sound
• Competitive pricing with the
possibility of negotiation to match
the CRV's cost
• Marginal difference in gas
consumption compared to the CRV
Pros:

10. CONS
• Limited trunk space and seating
capacity, not suitable for
transporting boxes or
accommodating siblings
• Convertible design and rear
seat constraints not practical for
harsh winter conditions
• Higher insurance premiums
compared to the CRV
• Potential perception of being
more of a luxury or indulgent
choice rather than a practical
one for everyday use
• Relatively standard design and
functionality, lacks the thrill of a
sports car
• Less emotionally appealing
compared to the Ford Mustang
• Potential perception of being
more of a practical, utilitarian
choice rather than a stylish or
exciting one
Honda CRV Ford Mustang

11. IMPACT
ANALYSIS
• Financial impact
• Emotional impact
• Lifestyle impact

12. Financial Situation and Professional Aspirations
 Jaime is a graduate student with limited financial resources.
 Works 30 hours a week at a local packaging plant to save up for a car.
 Aspires to advance professionally and has the opportunity for a
potential assistant supervisor position.
 Job promotion entails responsibilities that require transporting boxes
across the city.
 Jaime needs a vehicle with a large trunk space to fulfill the
requirements of the assistant supervisor position.
 As a graduate student with siblings, the protagonist seeks a vehicle
with ample seating for family activities and road trips.
 The practicality of the chosen vehicle directly impacts the
protagonist's ability to perform job duties and
accommodate familial needs.

13. DECISION
MODEL
• Creating a comprehensive decision model
involves evaluating the financial implications
of both options, considering not only the initial
purchase price but also long-term maintenance
costs .
• Jaime should consider possible compromises,
such as renting larger vehicles for family trips,
and explore solutions like equipping the
Mustang with suitable winter tires to handle the
Wyoming climate.
• The decision model should weigh the practical
benefits of the Honda CRV against the
emotional fulfillment from owning the Ford
Mustang, considering both immediate and long-
term implications.

14.  TEAM RECOMMENDATION
• Give advance for both by distributing the amount and just
take Honda for initial help to earn more and pay pending
amount.
• Wait for some more months and earn more save more and
come back again to buy his needed car and dream car both.
• Understand his needs and try to complete them first and let
his wants wait till he earns enough to fill his desired needs.

15. THANK
YOU