Factors and Alternatives to be Considered Before Making a Large Purchase
Charles Horn
Hello Charles. I agree that many factors should be considered before making a large purchase. Besides vetting the seller to determine their credibility is essential, which is among the things you did, it is important to review the process offered by other sellers offering the same products. It is also necessary to look for a seller’s reviews to determine their trustworthiness. According to Dewobroto et al. (2021), customer trust is influenced by reliability, brand reputation, corporate values, quality, and customer experience. Customers need to be assured that they are dealing with the best seller, especially when making a large purchase due to the large amount of money they may be spending. It is also essential to consider word-of-mouth before making a large purchase, especially comments made by people who have purchased similar products from sellers. However, word-of-mouth should not be the primary source of information because people could offer false information. Our assignment writing help is at affordable prices to students of all academic levels and academic disciplines.
References
Dewobroto, W., Nimran, U., Arifin, Z., & Yulianto, E. (2021). The role of customer value and trust as a mediator of flexibility influences customer retention. Webology, 19(1), 37-50. https://doi.org/10.14704/web/v19i1/web19003
Ming Chen
Hello Ming. I agree with you that it is important to consider alternatives before purchasing a product. According to Mishra (2018), customers think of other options using evaluative criteria based on various product attributes and the benefits the customer expects from the product. Product attributes may include objective or subjective features. Subjective features relate to a product’s hedonic or emotional aspects, such as convenience, transaction security, privacy, and status.
In contrast, objective features include a product’s practical or functional aspects, such as the benefits obtained from the product. Customers also consider the pros and cons of the products among the selected alternatives to select the best options. Some cons may include lack of durability, high price, and lack of after-sale services such as warranty and delivery. Compromises may be made based on a brand’s reputation and additional information gathered from customer reviews.
References
Mishra, O. (2018). Criteria for evaluation of alternatives in online consumer decision-making process. ELK Asia Pacific Journal of Marketing and Retail Management, 9(4). https://doi.org/10.31511/eapjmrm.2018v09i04005
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Question 
Charles Horn
Recently, my wife and I decided to buy a new car. We have two vehicles now. However, one of the cars needs some work since it’s older. Sharing one car can make things complicated, and fixing a car that continues to need more work can become frustrating, time-consuming, and a waste of money.
Before making a large purchase, many factors must be considered, but some compromises are needed. Nowadays, you can deal on different platforms; we use online sources such as Craigslist, Facebook Marketplace, and Cars.com. It also helps to have friends and family in the auto industry who can provide advice and assistance. We used alternatives but didn’t find better deals than other listings.
Factors and Alternatives to be Considered Before Making a Large Purchase
The factors that were taken into consideration were:
• Size
• Color
• Features
• Total Price
• Insurance
• Gas Mileage
• Customer Reviews
• Loan Consideration
Considerations include the potential value of the product, cost of time and money, and maintenance required. Buying this car was an easy decision, but the process was longer because we took time to ensure we got the best car with the best value. Owning the car for the last four months was a great choice. Since we took time to find the right vehicle, we got an excellent deal that was well worth the purchase.
Ming Chen
Step 1: Identify the decision. You realize that you need to make a decision. Try to define the nature of the decision you must make clearly. This first step is crucial.
Step 2: Gather relevant information. Collect some pertinent information before you decide: what information is needed, what are the best sources, and how do you get it? This step involves both internal and external “work.” Some info is internal: you’ll seek it through a self-assessment process. Other information is external: you’ll find it online, in books, from other people, and other sources.
Step 3: Identify the alternatives. As you collect information, you will probably identify several possible paths of action or alternatives. You can also use your imagination and additional information to construct new alternatives. In this step, you will list all possible and desirable options.
Step 4: Weigh the evidence. Draw on your information and emotions to imagine what it would be like if you carried out each of the alternatives to the end. Evaluate whether the need identified in Step 1 would be met or resolved using each option. As you go through this complex internal process, you’ll favor specific possibilities with a higher potential for reaching your goal. Finally, place the alternatives in a priority order based on your value system.
Step 5: Choose among alternatives. Once you have weighed all the evidence, you are ready to select the alternative that seems to be the best one for you. You may even choose a combination of other options. Your choice in Step 5 may very likely be the same or similar to the option you placed at the top of your list at the end of Step 4.
Step 6: Take action. You’re now ready to take some positive action by implementing the alternative you chose in Step 5.
Step 7: Review your decision & its consequences. In this final step, consider the results of your decision and evaluate whether or not it has resolved the need you identified in Step 1. If the decision has not met the identified need, you may want to repeat specific steps to make a new decision. For example, you might want to gather more detailed or somewhat different information or explore additional alternatives.
, (). 7 STEPS TO EFFECTIVE DECISION
MAKING.
https://www.umassd.edu/media/umassdartmouth/fycm/decision making_process.pdf