Read the Chapter 3 Mini Case Study and submit your answers to the following 4 questions:
1. How might you go through the steps in the consumer decision process if you were thinking of buying a car?
2. How would your consumer decision process differ if you were deciding to use Uber?
3. How have sharing economy companies created value for consumers?
4. Which factors examined in Chapter 4 do you think would have the most impact on consumers when looking for an Airbnb location for an upcoming holiday?
Before buying a car it is important to follow a systematic process that begins with the recognition that I need to buy a car. Secondly, I should seek for the available cars before considering to buy one after which I will evaluate the alternatives. While considering the alternatives, I should give priority to those that favor my needs. If I find the one that meets my expectations, I buy. Lastly, I will undertake post purchase evaluation to ascertains its usefulness to my needs
The process would change if I use uber because, I would just recognize the need/want and seek the service of an uber driver with considering the alternatives available since the service provider has established its brand. However, I would give feedback on the service when paying for the service through a word of gratitude of dissatisfaction and would determine whether I would refer a friend or not.
Sharing economy companies created value for consumers by influencing the consumer satisfactions level. It reduces the search costs and acquisition costs since it boosts the social and economic value of the consumers. Furthermore, it also promote consumer awareness on the types of goods and services and their significance.
When customers are looking for Airbnb location for an upcoming holiday the information search in the consumer decision process will have the most impact. Information search is the second stage of consumer decision making process. In information search the consumers are actively involved where they search for information both internally and externally. The active involvement of the consumer is often temporary this is because it is limited to the upcoming holiday only. This means that the search for the information on Airbnb location will will subside or disappear after the holiday. Internal search for information involves them relying on their memory. The consumer recalls Airbnb places that they went to before and what they would like in a new Airbnb location for the upcoming holiday. This creates the basis that drives them to decide to conduct further information search which is often done externally. An external search involves visiting various social media platforms to find the recommended Airbnb in a particular location that they would like to visit. In addition, the word-of-mouth which is a powerful tool in influencing the consumer is factored in the search for information. This often involves the consumer consulting friends, relatives, family or anyone they are close to about an Airbnb location. Moreover, they can visit websites that are geared towards the Airbnb business. This will provide them with more insights on the basis of location, captivating places to visit when in the location, services offered, and estimated price. Moreover, the consumer can use the sources used by marketers like advertisements on televisions or travel programs. The information search plays a vital role in providing the consumer with clarity when it comes to deciding about the Airbnb location. In addition, it provides them with a lot of alternatives or choices that are necessary in finding them the most suitable Airbnb location. These ensure that an informed decision will be made which will bring value to the customer