58economy

Listen to part of a lecture in a business class. So recently, we've beenlooking at how consumers make decisions about which products to buy. Let'sconsider how consumers feel when making a big purchase, when a product they're thinkingabout buying is something expensive. Often people feel that they are taking achance, spending a lot of money on something when they aren't really sure howgood the product is.

So to reduce this feeling of risk, consumers use specific strategies tohelp them make purchasing decisions.

One strategy to reduce the feeling of risk is doing thorough research tofind out as much Information as possible about a product before buying it. Bycollecting Information from many sources, the consumer gets a sense of whethera product is likely to perform well. For example, imagine that someone wants anew computer, but deciding which computer to buy feels risky because they couldend up with a bad computer. So by taking time to read online reviews fromexperts about different manufacturers, and listening to the opinions of manypeople who have computers, the individual will often feel safer making thedecision about which computer is best.

Anotherstrategy consumers use to reduce the feeling of risk is staying loyal to oneparticular brand or company. When consumers have purchased products from acompany and have experienced satisfaction with those products, they will trustthe company and feel confident buying from it. Again. For example, let's say afamily buys a new car from a particular company, and the car performs very welland lasts a long time. The next time they go to buy a car, they'll decide touse that same company because they trust that they'll have another positiveexperience