Analysis of Consumption Choices Lab Report Example | Topics and Well Written Essays - 1500 words

Analysis of Consumption Choices - Lab Report Example The paper primarily analyzes purchase and consumption pattern of consumer (myself) as per the purchases made in two weeks’ period from 8th August to 21st August 2011. 2. Situational influences Purchase of goods made during the period could broadly be divided into four categories: convenience good; shopping goods; specialty goods; and unsought goods. While basic needs were responsible for purchasing convenience goods (annexure attached), the shopping items were deemed necessary primarily because of the need to be comfortable within and outside the academic area. The decision to buy shoes and clothes was influenced by the situation. The old pair of shoes was torn and I lacked appropriate clothes for formal occasions. The books and stationery were essential items and constituted important part of my study curricula. The specialty item like Apple iPad was instantaneous buy as all my friends had it and since I had recently received a little extra money from my parents, I thought I could splurge a little in luxury and save in essential. Maybe, reducing the consumption of cigarettes and keeping away from the temptation of going to sales and goods exhibitions would compensate the luxury buy! The purchase decision of unsought items during an exhibition was mainly influenced by its unique carving which attracted me. They were actually abstract buying and probably satisfied deep craving for the items. 3. Consumption perspectives The consumption behavior is subtle but complex process that takes into considerations various factors like perception of need for the product that could be influenced by personal choice or external elements. Perceiving the need for good can be triggered by the basic human need or through other media like advertisement. I had bought the Apple iPad because I had gathered the information from my friends and acquaintances who had bought the product and knew its super utility and functions. After sales service was also important issue while buyi ng shoes and iPad. Lee et al. (2002) assert that when the consumer experiences satisfaction in relation to the consumption, possession, maintenance, life cycle and the after sales service of the product purchased, he tends to repeat the purchase decisions. Pair of Nike shoes was bought because of satisfaction with the good. The other convenience goods had long term satisfaction history so needed no reference or external influences for buying the goods. In the current environment, the hedonistic and experiential goods have become major competitor of utilitarian products and services. Hedonistic goods are distinct in their pleasure that buyer receives when he/she consumes that good or uses it. The various goods that promote lifestyle statements are important examples of such goods. Experiential consumption, on the other hand is not need based but describes the consumption pattern of new breed of buyers who are motivated by mass culture of representative values of goods and services. I t differs from the hedonistic goods mainly in its feedback and conceptualization aspect. While hedonistic goods give pleasure to the buyer, with or without consumption, the experiential goods are just bought because they represent something important to the society at large. The goods could be bought as a status symbol, even though they do not have any