The rental decision is a very complex circumstance as it is not easy to choose a perfect option among a number of alternatives (Udo-Imeh and Essien, 2015). There are six alternatives available in the case of which the customer has to choose any one. The details given about the facilities and features of a rental house are needed to study by the customer thoroughly to reach an appropriate rental decision. Three customers are taken into consideration and their perceptual decisions as per their personality and demographic choices. The report is based on the answers they have given after studying the choices. I have taken the first three respondents to prepare the report.
All the three persons belong to 3 age groups and the personality differs from each other. The life situations and the situational needs forced them to evaluate the criteria differently. The first respondent is a 20 years unmarried girl pursuing bachelor at the University. She gives her 60% importance to the rent and the annual income of her family is $27000. As per the information given, her family is fully dependent upon her. The rent options are starting from $195 to $1580 per month. As per the total monthly pre-tax income is around $2250 per month, which is an obstacle for the first respondent to choose a luxury rent option. The second respondent is senior manager of 54 age and a male. As he is divorced, he needn’t to worry about much facility. His annual income in the last year before tax is $198,000, which give him the freedom to choose any of the six options given. The senior manager gives approximately equal importance to all the facility options. The third respondent is a housewife of 48 age and she is totally dependent on his husband’s income. The total family income before tax in the last year was $114.300 which gives the freedom to the housewife in choosing a rental option comfortably without worrying about the rent cost. The wife also gives approximately equal importance to the facilities and looks for a comfort living.
The three respondents belong to two life stages among which the first respondent is a bachelor whereas the other two respondents are married ones and comes in the elder group. As per the psychoanalytic theory of
The three respondents belonged to different geographical areas and acquainted with the familiarity of their respective geographic places. The first respondent is a Singaporean origin whereas the other two are having Australian authenticity. In choosing the rental decisions the first respondent never dependent upon others whereas the other respondents are dependent on their spouse and children. When the first respondent is a student and need to think transport facilities in relation to the rented house for her own the other respondents need to think about their spouse and children. In the second respondent case, the family income is all total higher than the others and the dependent person is only the daughter of the senior manager. The housewife is dependent on his husband’s income and the couple needs to think about the schooling and other transport facility in relation to the rental house for their children. The distance suitability of the three chosen options by the three respondents for their rental decision is based as per their comfortability. The first respondent thinks the option three is best for her and the best distance she could get from the city centre. The second respondent has chosen option 4 and thinks that the option is suitable for him in consideration to the distance from the city centre. The housewife decided to choose the sixth option and thinks that the option is suitable as per her transport facility needs (Foxall et. al. 2011).
The demographic situations of the three respondents are different from each other in a number of ways. The sex, age, income, transportation facilities, housing features are the major demographic factors in the case of choosing rental house for the three respondents (Rani, 2014). The facility choice of the first respondent is based on the rental cost comfortability and other secondary choices. Her chosen option 3 is the combination of the all facilities where she given importance more to the distance from the city centre and kitchen & bathroom facilities after the renting cost factor. The second respondent chose the fourth option and has given more importance to the distance and bathroom & kitchen factor than the other ones. The housewife has taken the sixth option as her choice of rental house and the facilities in the chosen option gives her more satisfaction in almost all areas. She has not given much importance to the distance and parking place and divided the satisfaction factors as per the other demographic aspects equally. Mostly the housewife has given importance to furnishing facilities to live with her husband and children comfortably (Ha, 2014).
The study of the three respondents says that the customers are aware of their personal and family situations in choosing the rental options. Mostly, the rental cost is the first point which the customers are focusing on the distance from the city center and furnishing option. It says that the respondents are decisive in making their rental decisions and think the matter seriously. To attract, more customers the facilities should give and average satisfaction to the customers. The mood and extrovert level of the customers are probably normal but the decision making quality of the customers in all the cases are forcing them to decide differently. A rental house should be a two BHK with kitchen and bathroom facility is mandatory. The parking and furnishing gives the house sophisticated and comfortable for the customers. The openness to accept the new products are not same at all customers which the rent house owners should consider. The lack of normal facilities in a rental house in comparison to the rent wouldn't attract more public eyes. The acceptance level of the customers depends on the rent cost and the extra facilities given including furnishing aspects, parking areas, extra kitchen and bathrooms (
The learning and memory theories consist of three types including classical, operant and conditioning theories. In all the theories, the learning outcome is derived from the stimuli and response. A good facility given in comparison to the rent cost would give a good response. In this case, the good facilities are the stimuli factors that force a customer to get attracted towards the best comfort alternative. This was a case of classical conditioning theory of learning. If the rent house owner gives good facilities or more than facilities than it has shown before the customer taken his decision, it would create a positive impact and would stick the customer for a long time. This case is a response to stimuli situation and comes under the operant conditioning theory. A customer considers the choice as per his income, family situation, dependency, and personal wishes. A house owner should make the house facilities in such a way that shouldn’t give a negative attraction to the customer in choosing the house (Menapace et. al. 2009).
The rental decision of the respondents is as per the personal attributes and demographic situations only. Mostly, the consumption decision is neither homogenous nor much different from each other but totally situational. As per the questionnaire, the answers given are limited due to the limitedness in the question pattern. If the questions were more specific and more options were available, the respondents could have given more wise answers. The availability of facilities in each of the options is meant to be directional as per the personality and demographic factor and hence may be transferred to the nearly suitable option in the availability of the first priority.
Online Review (MORE).
Ha, T. (2014). Factors that influence consumer purchasing decisions of Private Label Food Products: A case
Menapace, L. et. al. (2009). Consumer preferences for country‐of‐origin, geographical indication, and protected
designation of origin labels. IOWA STATE UNIVERSITY Department of Economics.
Journal of Business and Economics Research, 6 (1), 7-18.
Rani, P. (2014). Factors influencing consumer behavior. Excellent publishers, 2 (9), 52-61.
Srikant, M. (2013). MATERIALISM IN CONSUMER BEHAVIOR
Management and Marketing Challenges for the Knowledge Society, 8 (2),329-352
CONSUMER BEHAVIOR SCIENCE Assignment Help, project management assignment help, management assignment help services, strategic management assignment help, human resource assignment help, operations management homework help, management assignment writing, hnd management accounting assignment, write my project management assignment