Decision Making Process WRT Consumer Behavior

Question 1. Explain close fashioning service and various types of finish with examples? autonomic nervous system Decision making can be envisioned as the mental kneades (Cognitive process) resulting in the selection of a course of pull through among s perpetuallyal alter primal scenarios. E truly decision making process produces a final picking. The output can be an action or an vista of choice. Developed by B. Aubrey Fisher, on that point be four percentage points that should be complicated in either group decision making.These stages, or roughlytimes c e genuinely(prenominal)ed phases, ar important for the decision-making process to begin Orientation stage- This phase is where members meet for the start-offly time and start to get to know each other. Conflict stage- once group members become familiar with each other, disputes, little fights and arguments occur. Group members in the end work it out. Emergence stage- The group begins to clear up vague opinions b y talking roughly them. Reinforcement stage- Members finally soak up a decision, era unlessifying themselves that it was the right decision.When in an organization and faced with a diffi cultus decision, there ar several steps one can take to check off the best possible solutions impart be break upd. These steps are put into seven effective ways to go just nigh this decision making process. An Example illustrating Decision Making Process in an Organization * The first step Outline your goal and outcome. This allow for enable decision makers to enamor exactly what they are trying to accomplish and keep them on a specific path. * The second step Gather data. This will help decision makers aim actual evidence to help them come up with a solution. The third step Brainstorm to wear alternatives. Coming up with more than than one solution ables you to see which one can actually work. * The fourth step List pros and cons of each alternative. With the list of pros and cons, you can eliminate the solutions that impart more cons than pros, making your decision easier. * The fifth step Make the decision. in one case you analyze each solution, you should pick the one that has m all pros (or the pros that are to the soaringest detail significant), and is a solution that e actuallyone can agree with. * The sixth step immediately take action.Once the decision is picked, you should implement it right away. * The seventh step bedevil from, and reflect on the decision making. This step allows you to see what you did right and improper when coming up, and putting the decision to use. Another example showing Decision Making Process with respect to consumer behavior. This model is important for anyone making selling decisions. It forces the marketer to consider the whole get process rather than just the barter for decision (when it may be likewise late for a bank line to diverge the choice The model implies that guests pass through all stag es in every bribe. However, in more routine grease ones palmss, guests often scurry or reverse some of the stages. For example, a student buying a favourite hamburger would recognise the need (hunger) and go right to the purchase decision, skipping knowledge search and evaluation. However, the model is very useful when it comes to understanding any purchase that requires some thought and deliberation.The buying process starts with need recognition. At this stage, the buyer recognises a problem or need (e. g. I am hungry, we need a new sofa, I lease a headache) or responds to a marketing stimulus (e. g. you pass Starbucks and are attracted by the redolence of coffee and chocolate muffins). An aroused customer then need to decide how more development (if any) is required. If the need is strong and there is a proceeds or service that meets the need close to hand, then a purchase decision is possible to be make there and then. If not, then the process of training search b egins. A customer can obtain information from several sources Personal sources family, friends, neighbours etc Commercial sources advertising sales race retailers dealers packaging point-of-sale displays commonplace sources newspapers, radio, television, consumer organisations specialist magazines Experiential sources handling, examining, using the product The usefulness and process of these sources of information will vary by product and by customer. Research suggests that customers value and respect personal sources more than commercial sources (the influence of word of mouth). The challenge for the marketing team is to identify which information sources are most influential in their target markets.In the evaluation stage, the customer must choose between the alternative brands, products and work. An important determinant of the outcome of evaluation is whether the customer feels involved in the product. By involvement, we mean the degree of perceived relevance and personal importance that accompanies the choice. Where a purchase is passing involving, the customer is likely to carry out extensive evaluation. High-involvement purchases include those involving high expenditure or personal risk for example buying a house, a car or making investments. Low involvement purchases (e. . buying a soft drink, choosing some breakfast cereals in the supermarket) have very simple evaluation processes. Post-purchase evaluation Cognitive Dissonance The final stage is the post-purchase evaluation of the decision. It is common for customers to experience concerns after making a purchase decision. This arises from a concept that is cognize as cognitive dissonance. The customer, having bought a product, may feel that an alternative would have been preferable. In these circumstances that customer will not repurchase immediately, notwithstanding is likely to switch brands conterminous time.To manage the post-purchase stage, it is the job of the marketing team to per suade the potential customer that the product will satisfy his or her needs. Then after having do a purchase, the customer should be encouraged that he or she has make the right decision. Question 2. Take any inter interior(a) surface area of your choice and list down their social, cultural, lifestyle, air etiquettes and manage practices in detail? Ans Country in Discussion Nigeria Social / Cultural and Life genius Background The culture of Nigeria is shaped by Nigerias multiple pagan groups. The plain has over 50 speechs and over 250 dialects and ethnic groups.The three largest ethnic groups are the Hausa-Fulani who are predominant in the north, the Igbo who are predominant in the south-east, and the Yoruba who are predominant in the southwest. The Edo large number are predominant in the region between Yorubaland and Igboland. Much of the Edo tends to be Christian mend the remaining 20 percent worship deities called Ogu. This group is followed by the Ibibio/Annang/Efik p eople of the coastal southeastern Nigeria and the Ijaw of the Niger Delta. The rest of Nigerias ethnic groups (sometimes called minorities) are found all over the country entirely especially in the middle rap and north.The Hausa tend to be Muslim and the Igbo are predominantly Christian. The Efik, Ibibio, Annang people are mainly Christian. The Yoruba have a balance of members that are adherent to twain Islam and Christianity. Indigenous religious practices remain important in all of Nigerias ethnic groups, these beliefs are often blended with Christian beliefs. Nigeria is famous for its English language literature and its popular music. Since the 1990s the Nigerian movie industry, sometimes called " Nollywood" has emerged as a fast-growing cultural force all over the continent.All over the country, and even increasingly in the conservative north, western music, dresses and movies are ever popular. The music of Nigeria includes legion(predicate) kinds of folk and popular music, some of which are cognise worldwide. Traditional musicians use a number of diverse instruments, such as the Gongon drums Football (soccer) is extremely popular throughout the country and especially among the youth, twain field soccer and professional ball-shaped soccer, has veritable into a cult of unity and division.Supporters of English football clubs Manchester United, Arsenal, Liverpool and Chelsea often segregate beyond the traditional tribal and even religious divide to share their common instance in Premier League teams. The Nigeria earthal football team, nicknamed the Super Eagles, is the national team of Nigeria and is controlled by the Nigeria Football Federation (NFF). Nigerian forage embellishes a abounding blend of traditionally African carbohydrates such as yam and Cassava as well as vegetable soups made from native green leaves.Praised by Nigerians for the strength it gives, Garri is a powdered Cassava penetrate that can be readily eaten as a meal a nd is instead cheap. Yam is either fried in oil or pounded to make a Mashed Potato like Yam pottage. Nigerian beans, quite assorted from green peas, is widely popular. Meat is also popular and Nigerian Suya, a barbecue like method of roasting meat, is a well known delicacy. Bush meat, meat from wild game like deer and giraffes is also popular. Fermented palm products is used to make a traditional liquor, Palm Wine, as is fermented Cassava. channel Background in Nigeria The fact that Nigeria is not a magnet for international investment could be seen as a tragedy of immense proportions. age of political in constancy, regional strife and the weakening influence of massive depravation have resulted in the country failing to capitalize on its many advantages leaving the mass of the population in relative poverty and the country enormously infra-structure poor. A large number of international organizations and business people have been wary of doing business in Nigeria for many geeze rhood.This may come along strange given that Nigeria is one of the most populous countries in Africa as well as being one of the most oil-rich places in the world. equate this with the fact that the country is abundant in many other lifelike resources and has uncorrupted port facilities and you might think that international business would be fighting for a piece of the action in Nigeria. Huge strides have been made in the last few years to try to tractor trailer the many endemic problems which assail the country with political and economical stability being seen as the key weapons in attacking the corrosive influence of corruption.Whether the actions being taken on the ground now draw to salient improvements in levels of transparency and levels of incorporate governance remain to be seen in the meantime, the country struggles along and those doing business in Nigeria need to be alive(predicate) of the issues that await them. Business Etiquettes Nigerians like to use lan guage in a fairly flowery fashion and will often address you with big(p) courtesy and overt signs of respect. This desire to show respect to people is shown in the Nigerian use of titles and honorifics.People will often be addressed as Uncle, Auntie, Chief, Mazi, Doctor etc. rather than by the use of first names. Business conversations will often veer towards the personal and you may be asked questions about family, hobbies and other interests within business meetings. This is an important section of the meeting and should be treated as such. It is not seen as overly personal but rather as a signal of warmth and friendship. Handshaking is very important and it is usual to exchange long, lingering handshakes with everybody you meet. Nigerian Management StyleAs you would tarry in a strictly hierarchical culture, managers are expected to lead quite strongly. The boss is expected to make decisions (with or without wider consultation) and the decisions of the boss are expected to be ca rried out to the allowter. Directions should be given in a polite and friendly but definitive fashion. Spell out in detail what needs to be done anything which is not explicitly requested, is likely to remain undone. This does not mean that subordinates are inefficient or lazy, plainly that they expect the boss to know exactly what he wants to happen and to inform things to them fully.It is important to dress well in Nigeria as the way you are dressed will signal your relative level of importance. Men should abide dark suits and ties and women should wear dark, demure business-style suits. In return for loyalty, the manager will often take on a paternalistic grapheme with regard to colleagues. The manager is expected to take an interest in subordinates beyond their straightaway work-related duties. People are as likely to ask the boss advice on personal matters as they are on business issues. Indigenous Nigerian companies will, however, have an approach and flavor all of thei r own.All native Nigerian companies will display massively hierarchical tendencies as befits a country rich in tribal tradition and culture. Thus the boss expects and receives respect from those under them in the structure. As age is highly valued in Nigerian culture, managers are often of the older generation age brings wisdom. Although people at a middle-management level will like to give the impression that they have great power in the organization, they rarely do. Decisions are invariably made right at the head, so try not to waste too much time trying to force decisions out of more subordinate employees.If possible, go right to the top. This does not, however, mean that people lower down the corporate structure can be ignored as they may very well be pivotal in influencing the eventual decision-maker. As a relationship-oriented culture, it is important to be seen to be trying hard to develop good relationships at all levels within the organization. Economic Facts previously hindered by years of mismanagement, economic reforms of the past decade have put Nigeria back on move through towards achieving its full economic potential. Nigerian gross domestic product at acquire power parity more than doubled from $170. 7 billion in 2005 to $374. billion in 2010, although estimates of the size of the internal sector (which is not include in official figures) put the actual numbers closer to $520 billion. Correspondingly, the GDP per capita doubled from $1200 per person in 2005 to an estimated $2,500 per person in 2009 (again, with the inclusion of the informal sector, it is estimated that GDP per capita hovers around $3,500 per person). It is the largest saving in the West Africa Region, 3rd largest economy in Africa (behind South Africa and Egypt), and on track to becoming one of the top 30 economies in the world in the early part of 2011.Although much has been made of its status as a major exporter of oil, Nigeria produces only about 3. 3% of the worlds supply, and though it is ranked as 15th in employment at 2. 2 million barrels per day (mbpd), the top 3 producers Saudi Arabia, Russia, and the United States produce 10. 7mbpd (16. 8%), 9. 8mbpd (15. 4%), and 8. 5mbpd (13. 4%) respectively, collectively accounting for 63. 6mpd (45. 4%) of the worlds total production. 2 To put oil revenues in placement at an estimated export rate of 1. 9mbd, with a projected sales equipment casualty of $65 per barrel in 2011, Nigerias anticipated revenue from petroleum is about $52. billion. This accounts for less than 14% of official GDP figures (and drops to 10% when the informal economy is included in these calculations). Therefore, though the petroleum sector is important, it remains in fact a small part of the countrys overall vibrant and change economy. The largely subsistence agricultural sector has not kept up with speedy population growth, and Nigeria, once a large net exporter of food, now imports some of its food products. In 2006, N igeria successfully convinced the Paris Club to let it buy back the bulk of its debts owed to the Paris Club for a immediate payment payment of roughly $12 billion (USD).Trade Practices The Federal Government plays the role of protecting local anaesthetic industries and the confinement market from unfair competitions and commerce practices of developed countries. While Nigerian government appreciates that the world is a spherical village, in terms of exchange of goods, services and persons, it will not open the nations borders to the influx of foreigners in whatever guise without considering the security and economic implication inherent in the government of Expatriate Quota and other immigration formality. While it is true that Nigeria as a developing country needs to benefit from the xperiences and technology of the advanced nations, it is important that we protect our local men by ensuring that jobs that are meant for Nigerians are not occupied by foreigners in order to s tem the unemployment rate in the country. Although the world is a global village and the WTO preaches free trade or liberalization of trade, it is the governments duty both individually and as government to protect our local industries and markets in order to avoid being reduced to mere consumers of labor and technology of the advanced nations.Their focus at all times should be to develop indigenous technology, local capacity building for both our industries and markets". Also, the administration of Expatriate Quota helps attract foreign direct investment fast track economic development transfer technology through importation of sophisticated machinery and equipment build and enhance local capacity and skills institutionalize Nigerian understudies given over to Expatriates and for appropriate documentation.ALTERNATIVE TRADE NETWORK OF NIGERIA (ATNN) The Alternative Trade Network of Nigeria (ATNN) was set up in 1994 with 25 artisans drawn from different parts of Nigeria as a N on Governmental Trade and Development Network. It was formerly registered with Corporate Affairs Commissions capital of Nigeria on the 7th January 1999 as an Incorporated Trustee with a basketball team member Governing Board. The daily operations of the network are twinned by course staff and team of volunteers under the leadership of the Director.ATNN is a registered pioneer member of the International Fair Trade Association (IFAT) make in 1994 now the World Fair Trade Organization (WFTO) and also a founding member of the Cooperation for Fair Trade in Africa (COFTA) with its Africa regional Office establish in Nairobi, Kenya. With a founding membership of 25 artisans and groups, ATNN membership has grown to 120 cooperatives, groups and individuals (over 3616 individuals) engage in both food and Non food products from different parts of Nigeria who are grass root based and committed to the principles and standards of fair trade. 3% of the current membership is women, employing o ver 3616 people. 1774 apprentices have also been trained and are now self employed and rails their business in different areas of micro enterprises. ATNN has the following thematic areas of preventative 1. Fair Trade Market Access, Retailing and Export Trading This course provides unique solutions to specific members based on identified needs, level of business development, size, structure, markets, retailing and other trading opportunities. 2. Producer Development, Community Mobilization and Empowerment.This program engages participatory method of development of both formal and informal groups of producers and communities in identifying and establishing core strength and weaknesses and collective designing of sustainable and achievable business solutions. 3. Fair Trade Advocacy and Economic Rights The objective of this program is to develop and disseminate appropriate fair trade information to raise beneficiarys knowingness and stake holders interest and support for effective an d proactive fair trade participations.It also highlights and lobby against unethical business, production and trade practices and policies that are insalubrious to community growth, environmental protection and other impacts that are related to sustainable production and development. The Alternative Trade Network of Nigeria believes in fostering an intensify producers businesses development and sustainable income through developing, consolidating and advancing the core mission and objectives of the global fair Trade Movement within Nigeria, Africa and the world over.This is maked through the religious offering and provision of technical guidance, market support, networking and awareness rising for favorable trade policies and micro business development measures. ATNN, in its business development services also ensures that producers do not just access profitable markets, but produce quality products and get appropriate value for their labor. ATNN generally desires to achieve the following 1. Increased and improved business skills