The Affect of Price on Customers’ Decision Making

Context of the Research

The consumer’s decision making process is one that is of the utmost importance to marketers (Richarme, 2009). Considering the degree of internet usage that the modern day consumer has chosen to incorporate in his/her decision making process in an attempt to acquire a sound knowledge base about the product/service of concern, the need to acquire an understanding of the consumers’ decision making process has become all the more imperative (Carroll, Scott, Webb & Konrath, 2009).

Consumers are choosing to spend more time in the intermediary stages of decision making and it is for the same reason that the need to understand the variables of the process (Williams, 2002).

Aims of the Research

The aim of the research is to develop a thorough understanding of the everyday consumer’s decision making process and the degree of influence that the fluctuations of commodity prices have upon it.

Objectives of the Research

The research seeks to present an elaboration on the following primary concerns. Nevertheless, the research shall not be limited to these areas of study.

  • The consumers’ decision making process.
  • The degree of sensitivity that is present in the customer’s decision making process.
  • The primary variable to which the consumers’ decision making is most sensitive (Time, risk, reliance, uncertainty of information, price fluctuations, product attributes’ standards, etc).
  • The relevance of price to the consumer’s decision making.
  • The consumers’ expectations from a products price levels and its qualities

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