Chapter 6: Consumer Decision Making

      One of the most important parts of marketing is having customers buy your product. Not only are there many factors that are involved on the marketer's side, but equally as many on the consumer's side. Despite what many people may think, in the simple process of purchasing a item, large or small, the process involved contains many elements. Whether making a larger purchase such as deciding on what car to buy, or buying something like cereal at the supermarket, both purchases contain many details influenced by the marketer and the consumer.
     The consumer decision-making process contains five steps which are used by the customer when purchasing goods. In following these steps the consumer is able to evaluate their purchase and end up with the correct item that they want. Things such as determining if the purchase is a want or a need, internal and external stimuli, and information sources are all factors involved that affect the customers decision on making a purchase. Today few consumers realize that the majority of purchases made throughout the day are greatly affected by all these things because making purchases have become so second nature. For instance, as mentioned before, something as simple as going to the super market to buy cereal would be seem by many to be a very simple task. However, people overlook how much actually goes into that one purchase. Things such as what brand to buy, what size box, price range, etc. are often taken into consideration rather quickly. This is because buying cereal is a type of routine response behavior. However when making a purchase that is on a much larger scale, like buying a car as mentioned earlier, the decision making process becomes much more complex. There may be more at risk with this type of purchase therefore the consumer wants to know he or she is making the right choice.
        When it comes to Tiffany & Co. there are a some differences when it comes to the consumer's decision making process. Mostly it will depend on what the consumer is buying from Tiffany's. One of the items sold most by Tiffany & Co. are their engagement and wedding rings. When a consumer goes to Tiffany's to purchase an engagement or wedding ring the decision making process can become rather complex; therefore deeming it either limited or extensive decision making. The many elements and factors as stated before all become part of the consumers decision. Some factors pertaining specifically to Tiffany engagement rings that are considered would include ring type, setting, karat size, price range, and ultimately whether the ring wearer will like it or not. All these types of things are just parts of the elaborate action of the decision making process with ultimate goal of the consumer's satisfaction in his or her decision.