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The Application Of Decision Rules When Buying A Middle-Class Automobile

Author

Listed:
  • SAVICA DIMITRIESKA
  • ALEKSANDRA STANKOVSKA

    (European University – Republic of Macedonia, Skopje)

  • TANJA EFREMOVA

    (Advisor, Statistics Department, National Bank of the Republic of Macedonia)

Abstract

The purpose of this paper is to explain the consumer decision making process from both, a theoretical and practical perspective. Theoretically, the consumer decision process refers to making a choice amongst various alternatives that address a problem, need or opportunity. The consumer decision process consists of several stages, such as: a) need / problem recognition, b) pre-purchase information search, c) evaluation of alternatives, d) purchase decision and e) post-purchase outcome and reactions. For this paper, the stage of evaluation of alternatives is especially important, where buying decision rules are elaborated in detail (compensatory and non-compensatory rules). Buying decision rules are procedures used by consumers to facilitate brand or other choices. Such rules reduce the burden of making complex decisions. From a practical perspective, this paper should help families who want to buy a family car, worth up to a maximum of 15,000 euros. Buying decision rules apply to products that are complex, multi-functional, and technical and are used by highly involved, relatively uninformed and inexperienced consumers. For the purpose of this paper, several interviews with families that are in a need of buying a car were made.

Suggested Citation

  • Savica Dimitrieska & Aleksandra Stankovska & Tanja Efremova, 2017. "The Application Of Decision Rules When Buying A Middle-Class Automobile," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 13(1), pages 181-190.
  • Handle: RePEc:neo:journl:v:13:y:2017:i:1:p:181-190
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    More about this item

    Keywords

    consumers; consumer decision process; evaluation of alternatives; buying decision rules; compensatory and non-compensatory rules.;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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