I will be very motivated in the next step which is the search for information. Being of such a high priced purchase I want to find out as much information as I can, not just about the product but also the effect of wearing a RADO watch. Firstly I will do an internal search of information, this is a quick sweep over the mind on what I can recall about the product and is done as soon as a problem is recognised. With lower interest or motivated purchases this could be deemed enough and I would move onto the purchase.
However, as this is a complex purchase I want to know more information, this is called an external information search. By including an external investigation I will better understand the risks involved with buying a RADO watch. Such as functional risk, will the product work as expected? Physical risk, is the watch safe? such as reactions to the materials it is made from. Financial risk, is it worth the price? will I gain enough satisfaction to warrant such an expensive item. Social risk, am I going to embarrass myself or not fit in?
Physiological risk, what effect will wearing a RADO watch have on myself esteem, will I feel good? and lastly time risk, the amount of time and effort spent on the purchase decision, was it a waste? The amount of time spent on an external information search all depends on the value of the product to the consumer. In this case I would undergo a very detailed investigation where I invest a lot of time because of my student financial situation. When doing external research I am soon effected by marketers and exposure to outside stimulants.
For example when doing my search I wanted to see where I could purchase a RADO watch from . When I visited the RADO website I was soon drawn in by the instant look of class and wealth which appeals to my personality and realize by purchasing a new RADO watch I would be fueling my ego and moving towards my ideal self image. I also satisfied my need for knowledge and information about the product, I learnt what they were made out of, what new technology they include and what celebrities and events endorse the products, which to me shows they are of a popular status and could create a positive image about myself.
Therefore I will move on to the next stage of the decision model, evaluation of alternatives. By using the conjunctive decision rule I am able to set a degree of cut off standard. The Executive watch market is very competitive and includes other brands such as ROLEX, TISSO and MIDO. All of which offer a similar product but I believe a RADO watch provides a better experience. Its combined features such as having a reputation of being scratch free, sleek and an industry leader for design and new materials match its personal experience portraying a high social class, wealth, success and confidence.
After all Andy Murray wears one. After being satisfied with my choice and research I then purchase the RADO watch from either the Christchurch or Auckland supplier. However Purchasing the product IS important it is not the final stage of the consumer decision model. After purchasing the product a consumer then evaluates the effect, while wearing my RADO watch I evaluate its effect, has it meet all my expectations. Consumers will try to reduce post purchase cognitive dissonance by seeking support that they made the right decision, either from peers, advertising or other customers.
After purchasing my watch I felt it did meet all my expectations of class and image aswell as functionality however I was not happy from the price I paid. RADO watches are very expensive ranging from over $1000 for the cheapest. After investing so much money I feel that it is not worth the satisfaction or wellbeing I gained. Therefore I would take the final step in the model by divestment. I would claim back my money from the watch by reselling it. Divestment is the remarketing, reselling or disposal of the product or packaging after use. ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ My purchase of a Manual tooth brush is allot more simple and would be considered a habitual decision with low involvement as I would always choose the cheapest brush. The first stage, needs recognition would occur when my current tooth brush became worn out and I need a replacement. When undergoing an information search I would solely rely on an internal method and would feel satisfied that I know enough information about the product choices.
The reason I have a low involvement outlook is because I see the product as low risk as there is no strong design difference or any features between the choices that effect social, financial, psychological, or time risk. they all seem indifferent apart from a slight price difference. This comes from a recollection of past experiences where I get the same satisfaction from any brand, The next step in the model, pre purchase evaluation of alternatives would solely happen at the single shop I went to when I am actually picking my product from the shelf.
As a tooth brush is of low involvement and value to me I have no motivation to visit any other outlets and want to get the purchase done as fast and easily as possible. The next step is to purchase the item, which I will do by picking the cheapest one from the shelf, pay then leave the store to consume the product. When I consume the product I dont have many standards that need to be meet. Therefore this brush easy for fills my requirements and I am satisfied.
Being of a low involvement purchase the post purchase evaluation will be limited and not as extensive of such as the RADO watch. I will continue to re purchase this brand but only if it remains the cheapest, I have no brand loyalty and will switch to alternative brands if there are opportunities such as a sale. The final stage in the process is divestment. After use, both the product and its packaging will be disposed of as rubbish because it holds no further value for resale, unlike the watch which is still valuable because of its high price. cant try it on rado ¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦¦ The standard consumer decision process model by Engel, Blackwell and Miniard is very useful for marketers as it is a road map of consumers minds which takes a journey through the different steps of consumption, starting with problem recognition then information search, evaluation of alternatives, purchase, consumption, post consumption evaluation and lastly divestment.