Major Decision Making: Individual Report Custom Essay

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In this course students examine both the internal and external factors that influence buyer behaviour using consumer decision making models as a framework. The material is presented using both marketing and social science perspectives.

Part A – Minor Decision Making: A Consumption Diary Analysis 15%
(Due Wednesday of Week 5) This piece of assessment asks you to look at your own consumption activities and submit a brief analysis of those purchases. Keep a diary of your consumption for a few days, and choose 3 purchase activities for this diary analysis.
Please choose purchase activities on each of the following areas:
– Food (for example, lunch, a snack, a fast food meal).
– Entertainment/Leisure (for example, renting a DVD, going to a movie, going to a nightclub etc).
– New purchase (for example, clothes, new foods, a new activity, new book – something that is new to
you).
For each of these purchase decisions that you made please indicate:
– What was bought and what kind of purchase it was (habitual, limited, extended). Indicate why the
purchase fits that category.
Course Profile for: MRKT19031, 2011 Term Three – Page 6
– What triggered problem recognition.
– Whether you mainly relied on internal or external information search.
– How many alternatives were considered before making your choice.
– What kind of situational influences led to your decision (physical, social, temporal, task, antecedent).
Support your analysis with evidence from the literature. Compare your decisions to the literature – did your behaviour fit the characteristics of that type of decision? What differences were there and why?
You need at least two journal article references for each of the three purchase decisions. You will find
journal articles related to the different types of decision making and the decision process on the EbscoHost database via the university library.
Part B – Major Decision Making: Individual Report 35% (Due Wednesday of Week 8)
Choosing accommodation can be a major decision in our lives, subject to many competing influences. Do I
buy that 4 bedroom house that will take the next 30 years to pay off? Would I rent a 2 bedroom unit? Shall I share an apartment with my friends, or some strangers? Is the house in a safe suburb? Is it close to public transportation, shopping centres, childcare services, hospitals, gyms, cafes, or the university? Do I want this furniture? Is there mobile broadband coverage? …… What is it that affects this decision and makes it different for each of us? This assignment requires you to look at the accommodation choices of three (3) people – you can include yourself in this analysis if you wish.
Firstly, develop a list of 6 different accommodation options. Try to include some that aren’t options YOU
would like to take but that you know appeal to other people. You might want to refer to real estate websites, newspaper classified ads, or campus message boards while developing this list. Be specific – renting a three bedroom ocean view apartment in Bondi in Sydney (rather than just saying renting an apartment in general); sharing a two bedroom townhouse with a TAFE student near the Brisbane CBD; buying a three bedroom bushland house under Mount Archer in Rockhampton. You may wish to include indicative renting/selling prices or pictures of the accommodation options you have chosen to include.
Develop a second list of at least 5 evaluative criteria (Chp 5 of your text) that people might consider when choosing their accommodation– for example, prices, distance from the university/workplace, accessibility to public transportation, safety/security, occupations/genders/ages of housemates etc. There are many possible reasons we choose the accommodation that we do.
Place these two lists in a decision matrix (example in textbook).
Show this decision matrix to 3 people (one can be yourself if you need).
– Ask them to rank the evaluative criteria – how important is each criterion in determining THEIR choice
of accommodation? (for example a scale of 1 – 5 where a weight of 5 indicates it is very important).
– Ask them to rate each accommodation option on your list against each of the criteria (for example, using
scaling again, accommodation one might score well on criterion one and get a 5 while it is poor on
criterion two and gets a 1. The numbering you use is up to you.)
– Using the compensatory decision rule calculate which accommodation your respondent is most likely to
choose based on the matrix. Is this the one they would have actually chosen? If there is a difference,
please provide a brief explanation – for example, the matrix might suggest I was most likely to buy the
Course Profile for: MRKT19031, 2011 Term Three – Page 7 bushland house in Rockhampton but in reality I have to share the townhouse in Brisbane as I am working in Brisbane at the moment.
Secondly, conduct an analysis of Personal Characteristics leading to accommodation choices.
Analyse the choices made by your respondents. Why are their rankings of evaluative criteria different? Why
are their choices different?
Using the theoretical areas below, analyse and explain the behaviour of your respondents. Try to explain
their choices AND the differences between them using theory from:
– Demographics (age, gender, family situation, income, ethnicity etc)
– Personality (choose a couple of traits that are apparent to you from knowing this person, you do not have
to subject them to a personality test!)
You MUST use theory to support your analysis. This section of your report requires support from a
minimum of 10 journal article references.

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