The purpose of this exercise is to increase your understanding of the process that consumers go through when making a purchase decision. First select a product that requires some research before you purchase (for example: a vacation, rent an apartment, a computer or a smartphone, a car). Then, in outline or paragraph format, explain how you would utilize each of the steps in the consumer decision making process.

• Problem recognition
• Information search
• Evaluation of alternatives
• Product choice
• Postpurchase evaluation