Johnny Ch Lok

Insurance brings what benefits to society Johnny Ch Lok

Two interesting issues in decisions are: Variety seeking (where consumers seek to try new brands not because these brands are expected to be "better" in any way, but rather because the consumer wants a "change of pace," and "Impulse" purchases-unplanned buys. This represents a somewhat "fuzzy" group. For example, a shopper may plan to buy vegetables but only decide in the store to actually buy broccoli and corn. Alternatively, a person may buy an item which is currently on sale, or one that he or she remembers that is needed only once inside the store. A number of factors involve consumer choices. In some cases, consumers will be more motivated. For example, one may be more careful choosing a gift for an in-law than when buying the same thing for one self. Some consumers are also more motivated to comparison shop for the best prices, while others are more convenience oriented. Personality impacts decisions. Some like variety more than others, and some are more receptive to stimulation and excitement in trying new stores. Perception influences decisions. Some people, for example, can taste the difference between generic and name brand foods while many cannot. Selective perception occurs when a person is paying attention only to information of interest. For example, when looking for a new car, the consumer may pay more attention to car ads than when this is not in the horizon. Some consumers are put off by perceived risk. Thus, many marketers offer a money back guarantee. Consumers will tend to change their behavior through learning-e.g., they will avoid restaurants they have found to be crowded and will settle on brands that best meet their tastes. Consumers differ in the values they hold (e.g., some people are more committed to recycling than others who will not want to go through the hassle). We will consider the issue of lifestyle under segmentation. So, such as insurance buyer's information research case, usually, insurance buyers will search the different insurance companies their life or general insurance products choices in order to compare whether which insurance companies can have the most suitable life or general insurance products in order to satisfy their education insurance, or medical insurance or saving insurance or general insurance products needs among five to ten insurance companies in themselve country. Then, they will attempt to contact the most suitable insurance companies, they may have only two, or three or more, but their final choice number is usually less than five insurance companies. Also, they will attempt to contact these final insurance companies choices in order to decide whether which one is the most suitable insurance company to be chosen to buy its life or general insurance.