The Impact of Social Media on Consumer Purchasing Decision

Explain how the Internet can influence the consumer decision-making process for the following types of purchase decisions. * Buying tickets for a music show (5) * Deciding to invest money in a restaurant chain (5) * Purchasing insurance for your car (5) * Buying shoes for yourself (5) You may find it helpful to visit some websites for the afore-mentioned products. [20 marks] Introduction The advent of internet has brought more convenience to the time starved modern day consumers. This assignment will dwell on information searching on the internet as well as the manner in which the internet can assist consumers in the alternative evaluation stage of the decision making process. Consumer decision†¦show more content†¦The application process can be done online and they can even sign up with the chosen provider online. The Internet has made the purchase of car insurance faster and more efficient. Consumers do not need middlemen or agents and thus lowering costs for the consumers. There is also cost cutting since the consumer does not move from one company to the other searching for insurance quotations. Buying shoes for yourself Although buying shoes is more lot less involving using the traditional means buying shoes online can be more involving. Consumers can go the site of the store or brand that they are interested in. They can compare different types of shoes online and they can also view the shoes in 3D from all the different angles and if they are satisfied about sizes and the design they can proceed to buy the shoes; however, in most cases shoes need to be physically tried on and examined most consumers may prefer to go to the store for physical contact. However if they have purchased the particular type of shoe before then they may be comfortable to order and pay for it online. The manufacturer may be able to maintain contact with online customers and email new product information to them and therefore building a relationship with the consumers. Woolworths.co.za is one of the classic example for a storeShow MoreRelatedHow New Technologies Impacted The Purchasing Habits Of The Public1534 Words   |  7 Pageswere 2.08 billion active social media accounts worldwide, mobile cellular internet penetration was on an all time high with approximately 3 billion unique mobile users, including more than 70% penetration in many emerging markets and developing nations worldwide. This widespread prevalence comes with the ability to manifest market power and influence buying decisions on a new, much larger scale. This essay will analyse in what ways new technologies have impacted the purchasing habits of the public,Read MoreConsumer Decision Making : Consumer Behavior1604 Words   |  7 PagesConsumer Decision Making Process To determine what products to produce companies must first understand why consumers buy the items they buy, or determine their interest and necessities, this understanding is gained from analyzing consumer behavior. 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