Decision making process
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The document summarizes the decision making process of purchasing a personal computer for home use. It outlines the steps taken which included: 1) Recognizing the need for a computer for studies, recreation, and keeping up with technology; 2) Searching for information on personal computers from online sources, sellers, friends, and relatives; 3) Evaluating alternatives from different companies based on price, storage, quality, and assigning weights to each; 4) Determining the computer from Accer company received the highest weightage and making the decision to purchase it; 5) Following through by purchasing the selected computer from the shop.
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Decision making involves choosing between alternatives and reaching a judgment or opinion. It is a cognitive process that includes considering options and making a choice. The decision making process involves defining the problem, analyzing it, generating possible solutions, analyzing the solutions, selecting the best option, and planning the next steps. Problem solving is related and involves working through the details of an issue to find a resolution. It follows a similar process of identifying issues, understanding interests, listing options, evaluating options, selecting an option, documenting agreements, and planning for contingencies. The key elements of decision making include understanding who is affected by the problem, setting the agenda, considering rationales, determining the scope and seriousness, using technical aids, implementing the outcome.
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When consumers make a purchase, they progress through a series of behaviors. The consumer decision making process describes those behaviors and the activities that take place at each stage. In order to increase sales, marketers are looking at the five stages and trying to find ways to influence the consumers as they progress through the CDM process. The internet is the most recent tool that marketers are using to influence consumers. Discuss the impact of the internet on the five stages of the CDM process. What happens differently, or how does the internet use these processes to sell more efficiently?
Solution
CDM process:
Internet provides all the necessary information to the customer regarding a product or service. Thus, it plays a vital role in CDM process. A customer undergoes the following five stages before making a purchase.
Need Recognition.
It is the stage wherein the buyer identifies the need to purchase.
Internet induces the buyer to identify the need or it even creates the need for the buyer through advertisements.
Information Search:
This is where the buyer collects the information about the product or the service that he/she is going to buy. Various sources are available to the buyer they are family, friends, media, and internet.
Internet is the best of all sources in providing accurate results and on time.
Alternative Evaluation:
After the collection of information, the buyer would have various options to choose from. The buyer would compare the choices on the basis of price, attributes, features, color, shape, style, trend etc.
Internet helps the buyer by providing comparative and competitive advantages and disadvantages about all the products available. The customer could also get to read the feedback from customers who had already used the product.
Purchase Decision:
After analyzing the information with the available options, the customer finally decides to purchase a product that suits him/her. The customer believes that the product/ the service actually satisfy the need.
Internet plays a vital role in customer
.
Buying decision process
The buying decision process is the decision-making process used by consumers regarding market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives.
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1) The document discusses consumer buying behavior and how characteristics influence purchasing decisions. It covers factors like culture, personal attributes, and psychology.
2) Consumer buying behavior is divided into consumer behavior for personal use and business behavior for resale. Roles in consumer buying include the initiator, influencer, decider, buyer, and user.
3) Types of consumer buying behavior are complex, dissonance-reducing, habitual, and variety-seeking depending on involvement and awareness of brand differences.
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Types of buying decision behaviors and buyer decision process
There are four types of buying decision behaviors based on consumer involvement and differences between brands: complex buying behavior, variety seeking behavior, dissonance reducing behavior, and habitual buying behavior. The buyer decision process has five stages: problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Consumers may have positive or negative post-purchase evaluations depending on whether the product meets or fails to meet expectations.
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Wecker Corporation uses the following activity rates from its ac.docx
Wecker Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products:
Activities
Activity Rate
Setting up batches
$85.25
per batch
Processing customer orders
$76.21
per customer order
Assembling products
$11.31
per assembly hour
Data concerning two products appear below:
Product V09X
Product A09X
Number of batches
71
14
Number of customer orders
22
11
Number of assembly hours
494
699
How much overhead cost would be assigned to Product V09X using the activity-based costing system?
$172.77
$146,481.61
$13,316.51
$6,052.75
2.
The controller of Ferrence Company estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below:
Wall Mirrors
Specialty Windows
Total expected units produced
7,900
2,800
Total expected material moves
790
990
Direct labor-hours per unit
6
5
The total materials handling cost for the year is expected to be $18,964.40.
If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost should be allocated to the wall mirrors? (Round your intermediate calculation to four decimal places. Round your final answer to nearest whole dollar.)
$47,400
$14,642
$10,317
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3.
Addy Company has two products: A and B. The annual production and sales of Product A is 2,450 units and of Product B is 1,850 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.3 direct labor-hours per unit and Product B requires 0.6 direct labor-hours per unit. The total estimated overhead for next period is $107,100.
The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows:
Activities
Estimated Overhead
cost
Expected Activity
Product A
Product B
Total
Activity 1
$33,094
1,750
1,350
3,100
Activity 2
18,850
2,450
950
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General Factory
55,156
735
1,110
1,845
Total
$107,100
(Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.)
The predetermined overhead rate under the traditional costing system is closest to:
rev: 11_16_2012
$5.54
$29.89
$58.05
$10.68
4.
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This document presents an online shopping site for clothing using e-commerce. It introduces online shopping and notes problems with traditional shopping like long distances, time consumption, and limited hours. The objectives are to provide product information and develop the site using the Apriori algorithm for recommendations and binary search for searching. It describes the modules, use cases, and design. In conclusion, online shopping allows buying anytime, anywhere with Internet access and provides more enjoyment and detail than traditional shopping.
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Solution
CDM process:
Internet provides all the necessary information to the customer regarding a product or service. Thus, it plays a vital role in CDM process. A customer undergoes the following five stages before making a purchase.
Need Recognition.
It is the stage wherein the buyer identifies the need to purchase.
Internet induces the buyer to identify the need or it even creates the need for the buyer through advertisements.
Information Search:
This is where the buyer collects the information about the product or the service that he/she is going to buy. Various sources are available to the buyer they are family, friends, media, and internet.
Internet is the best of all sources in providing accurate results and on time.
Alternative Evaluation:
After the collection of information, the buyer would have various options to choose from. The buyer would compare the choices on the basis of price, attributes, features, color, shape, style, trend etc.
Internet helps the buyer by providing comparative and competitive advantages and disadvantages about all the products available. The customer could also get to read the feedback from customers who had already used the product.
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After analyzing the information with the available options, the customer finally decides to purchase a product that suits him/her. The customer believes that the product/ the service actually satisfy the need.
Internet plays a vital role in customer
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The stages are the same in all cases .. read and enjoy and if you need me to develop the steps for any other case just give me a shout ... I'm always there and ready to help
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1) The document discusses consumer buying behavior and how characteristics influence purchasing decisions. It covers factors like culture, personal attributes, and psychology.
2) Consumer buying behavior is divided into consumer behavior for personal use and business behavior for resale. Roles in consumer buying include the initiator, influencer, decider, buyer, and user.
3) Types of consumer buying behavior are complex, dissonance-reducing, habitual, and variety-seeking depending on involvement and awareness of brand differences.
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This document discusses decision making in engineering design and decision making processes in e-commerce system environments. It provides an overview of what decision making is and factors that affect the decision making process. It also outlines common decision making methods used by engineering firms and the reasons why firms use decision making methods. Additionally, it describes the typical 7 step decision making process and discusses how decision making is a management responsibility. Finally, it discusses how decision making processes work for both companies implementing e-commerce systems and their customers.
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There are four types of buying decision behaviors based on consumer involvement and differences between brands: complex buying behavior, variety seeking behavior, dissonance reducing behavior, and habitual buying behavior. The buyer decision process has five stages: problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Consumers may have positive or negative post-purchase evaluations depending on whether the product meets or fails to meet expectations.
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The document outlines the 5 key stages of the consumer purchase decision process: 1) problem recognition, 2) information search, 3) alternative evaluation, 4) purchase decision, and 5) post-purchase behavior. It then provides details about each stage, including how marketers can impact the process by communicating with consumers at the right time and providing helpful information to influence their search, criteria, and decision phases. The process is meant to help consumers systematically evaluate their options when making important purchase decisions.
Wecker Corporation uses the following activity rates from its ac.docx
Wecker Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products:
Activities
Activity Rate
Setting up batches
$85.25
per batch
Processing customer orders
$76.21
per customer order
Assembling products
$11.31
per assembly hour
Data concerning two products appear below:
Product V09X
Product A09X
Number of batches
71
14
Number of customer orders
22
11
Number of assembly hours
494
699
How much overhead cost would be assigned to Product V09X using the activity-based costing system?
$172.77
$146,481.61
$13,316.51
$6,052.75
2.
The controller of Ferrence Company estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below:
Wall Mirrors
Specialty Windows
Total expected units produced
7,900
2,800
Total expected material moves
790
990
Direct labor-hours per unit
6
5
The total materials handling cost for the year is expected to be $18,964.40.
If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost should be allocated to the wall mirrors? (Round your intermediate calculation to four decimal places. Round your final answer to nearest whole dollar.)
$47,400
$14,642
$10,317
$9,482
3.
Addy Company has two products: A and B. The annual production and sales of Product A is 2,450 units and of Product B is 1,850 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.3 direct labor-hours per unit and Product B requires 0.6 direct labor-hours per unit. The total estimated overhead for next period is $107,100.
The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows:
Activities
Estimated Overhead
cost
Expected Activity
Product A
Product B
Total
Activity 1
$33,094
1,750
1,350
3,100
Activity 2
18,850
2,450
950
3,400
General Factory
55,156
735
1,110
1,845
Total
$107,100
(Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.)
The predetermined overhead rate under the traditional costing system is closest to:
rev: 11_16_2012
$5.54
$29.89
$58.05
$10.68
4.
Accola Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 1,800 units and of Product B is.
Select Product Idea
This document provides guidance on selecting a good product idea by outlining four key tests:
1. Determine if the idea solves a real problem customers are facing by talking to and observing prospective customers.
2. Consider if you would personally use the product and be passionate about working on it for the next 3-5 years.
3. Research if competitors already exist and how your product would be different or better by addressing a narrower use case, different customer segment, industry, or locale.
4. Identify why developing the product now makes sense, such as a technology breakthrough making it feasible or a change in regulations creating market opportunity.
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Online shopping presentation
This document presents an online shopping site for clothing using e-commerce. It introduces online shopping and notes problems with traditional shopping like long distances, time consumption, and limited hours. The objectives are to provide product information and develop the site using the Apriori algorithm for recommendations and binary search for searching. It describes the modules, use cases, and design. In conclusion, online shopping allows buying anytime, anywhere with Internet access and provides more enjoyment and detail than traditional shopping.
Similar to Decision making process (20)
When consumers make a purchase- they progress through a series of beha.docx
When consumers make a purchase- they progress through a series of beha.docx
Why your brain buys stuff it doesn't need by Jamie Turner
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Buying process examples, a peek into the buyer's mind!
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Marketing project on " Consumer Buying Behaviour "
Marketing project on " Consumer Buying Behaviour "
Types of buying decision behaviors and buyer decision process
Types of buying decision behaviors and buyer decision process
Wecker Corporation uses the following activity rates from its ac.docx
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How do consumers decide what and which product to buy?
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Six sigma..
Six Sigma is a data-driven approach to process improvement that focuses on reducing defects. It aims for near perfect processes by minimizing variability. Six Sigma follows the DMAIC model - Define, Measure, Analyze, Improve, Control - to systematically improve processes. Belts are internal experts who assist teams, including Green Belts who spend part-time on projects and Black Belts who lead projects full-time, mentored by Master Black Belts. Six Sigma has helped many companies significantly improve performance and quality.
Parts of culture in pakistan
Pakistani culture has many distinct characteristics including cultural traditions like unique dresses, dances, and arts; a male dominated society; Islamic values and traditions that influence the national calendar and society; various regional languages along with Urdu as the national language; a rich literature in many languages; a variety of colorful regional dresses; annual fairs and religious festivals; popular modern and traditional sports; renowned handicrafts; the role of education in developing national identity; and iconic Mughal architecture blending Islamic, Persian and indigenous styles.
Levels of product
The document discusses different levels of products in the railway industry:
1. The core product is transportation and convenience, as the main purpose of the railway industry is to transport goods and people from one place to another.
2. The actual product is the services provided by trains, such as transportation facilities, which passengers can use and pay for.
3. Augmented products include extra amenities like air conditioning, power outlets, refreshments, and sleeping facilities that add value for customers.
4. Potential products are additional facilities not currently offered but could be in the future, like travel insurance, internet access, and ensuring trains arrive on time.
Obstacle to tqm
There are several obstacles to implementing total quality management (TQM) in the banking, healthcare, and education sectors. Some of the key obstacles include lack of management commitment, lack of proper training and education for employees, incompatible organizational structures, lack of employee involvement, lack of access to necessary data, and inadequate attention to internal customers. Overcoming these obstacles requires strong leadership from management and organizational changes to empower employees and improve communication and processes.
motivation
The document discusses several theories of motivation:
1. Maslow's hierarchy of needs proposes that people are motivated to fulfill basic physiological needs, safety needs, social needs, esteem needs, and self-actualization needs.
2. McGregor's Theory X and Theory Y describe two views of employee motivation - Theory X assumes employees dislike work while Theory Y assumes employees can exercise self-direction.
3. Expectancy theory states that strength of motivation depends on expectation that an action will lead to an outcome and the attractiveness of that outcome.
Contract of sales
This document discusses rules regarding the transfer of property titles for goods. It covers several key points:
1. For the transfer of title to occur, the goods must be specific and in a deliverable state. The title transfers when the contract is made unless additional acts like measuring or testing are required.
2. If goods are unascertained, no title transfers until they are appropriated to the contract with consent of both buyer and seller.
3. Several exceptions allow title to pass even if the seller does not own the goods, such as when implied or apparent authority to sell is given, for goods sold by co-owners or agents, or by unpaid sellers who provide proper notice.
Location
The document discusses factors to consider when determining the location for a firm's operations. Some key factors discussed include impact on supply chain and transportation costs, operating costs, ability to compete and reach new markets, appealing to customers, and incentives offered by local governments. The document also examines dominant factors like labor climate, proximity to markets and suppliers, quality of life considerations, and taxes/real estate costs. It notes that location is a key factor in determining customer convenience and that transportation costs and proximity to markets are important for distribution operations.
International politics
The document discusses various political and economic systems around the world. It provides examples of changing political systems in countries like the USSR and China. It then defines different types of political systems such as democracy, totalitarianism, and military rule. It also defines various economic systems like capitalism, socialism, and mixed economies. It discusses the process of privatization and nationalization of government assets.
Coca cola
Coca-Cola was invented in 1886 by John Pemberton and was first sold in Atlanta. It became popular in the late 1800s due to aggressive marketing by Asa Candler who bought the formula. By the early 1900s, Coca-Cola was sold across the US and Canada through independent bottling companies. Today, The Coca-Cola Company produces concentrate which is sold to licensed bottlers who produce and distribute the finished product. Coca-Cola uses sensory marketing techniques including color, sound, and imagery to create strong brand recognition and associate the feeling of drinking Coca-Cola with happiness.
Material costing and control
This document discusses material costing methods and inventory management concepts. It provides examples to calculate ordering point, minimum point, maximum point, and danger level using formulas and given values for average daily usage, lead times, minimum/maximum requirements, and economic order quantities. Different material costing methods like FIFO, LIFO, and weighted average are also explained along with examples to demonstrate how to apply each method.
Cvp analysis
FAUJI FERTILIZER COMPANY produces urea and DAP fertilizers. The company has a contribution margin of 60% and break-even sales of Rs. 5,206,1997. It currently has sales of Rs. 88,154,698 and a margin of safety of Rs. 36,092,701, indicating it is profitable and would need a sales decrease of over Rs. 36 million before reaching a loss-making position.
Inflation, types of inflation
This document discusses various types and causes of inflation. It outlines six main causes of inflation: demand-pull, cost-push, profit-induced, budgetary, monetary, and multi-causal inflation. It also discusses inflation based on rates (anticipated vs unanticipated), degrees (creeping, walking, running, hyper), and levels of control (open vs suppressed; partial vs full). Deflation is also briefly covered, defined as a decrease in general price levels that can exacerbate recessions.
Critical thinking, Food for thought
This document discusses ways to enhance critical thinking through "food for thought". It defines food for thought and critical thinking. Some activities that provide mental stimulus and enhance critical thinking are analyzing information by breaking it down and looking for patterns, questioning claims and statements, and discussing topics with others who have different perspectives. Exercises like logic puzzles, applying reason to values, and practicing critical thinking skills and principles are also recommended. The Socratic method of questioning to trigger critical thought is discussed as another way to enhance critical thinking abilities.
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This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
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【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
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Decision making process
- 1. Assignment on: Decision Making Process Submitted to: Sir.Qasim Submitted by: Fahad Sattar Roll No: 06 Class: BBA(HONS) 4th R1 Date: 11-12-2012
- 2. My Need Recognition Process. Need Recognition: I felt the need of a personal computer for general use at my home. I need it to help me in my studies and to use it for some recreation. I also wanted to get knowledge of current issues and latest news. I also felt its need to keep me in touch of latest technology. Therefore I decided to buy a personal computer for general use at home. InformationSearch: First of all I decided to search information about personal computers. Therefore I used different sources to collect information about personal computers. I used primary and secondary sources to collect information. I collected information from internet and from the sellers of the computers. l also collected information from my friends and relatives who have computer or have knowledge about the products of such category. This information helped me a lot to choose best alternative and to make right decision. I also gathered information from the sellers of the computers. Evaluation of Alternative: Then I evaluated the different alternatives and selected the different product. I checked the qualities of the products of different companies and analyzed the advantages and disadvantages of the products. I checked that the product have what type of features which can distinguish it from other products. What were its main features? Then l assigned wait age to all the alternatives and made the decision to buy the product of which company. I had these different products which I could select.
- 3. Waitage: Computer Dell Accer Compeq Price 0.40 20000 22000 19000 Storage 0.30 500GB 320GB 500GB Quality 0.30 70 80 60 1 8171 8920 7768 Computers of Accer company got the highest weightage in my list therefore I decided to purchase the computer of this company. Purchase: After selecting the alternative which has the highest wait age in my list I purchased the product which I want and the product which can satisfy me in a better way. I went to the shop and bought the product for which I have taken the decision. Post Purchase: I used that product and I was delighted that that product was very much good. It had more features other then the features which I had expected in it