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Consumers are constantly evolving in their buying behavior based on their life situations. Numeracy and Medicare part D: The outcome forms the experience of the customer and it this experience is believed to have a direct impact on the next decision of the consumer to purchase the same product from the same seller. Conversely, when time is perceived to be expansive, individuals tend to be future oriented, paying greater attention to planning, analytical thinking, and the pursuit of knowledge, so as to be prepared for future challenges. However this model is also unrealistic as the consumers are capable of collecting and evaluating information about product alternatives and then making a purchase. Working Paper No
To understand the complete process of consumer decision making, let us adult consumer decision making process go through the following example:. Tim went to a nearby retail store to buy a laptop for himself. The store manager showed him all the latest models and after few rounds of negotiations, Tim immediately selected one for himself. In the above example Tim is the consumer and the laptop is the product which Tim wanted to purchase for his end-use. The answer is very simple. Tim needed a laptop.