Exploring the Phases involved in the process of Contingent Decision Making

1Sanjay Rizal

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Abstract:

The primary objective of the study is to identify the phases in the process of Contingent Decision making.The data were collected through a snowball sampling method conducted in five zones of India. The purposive sampling method was employed along with choose the respondents and to solicit the responses. The google form of questionnaire method was used, and the collected samples are analyzed through simple averages and percentages.Budget is what comes first in the mind of respondents in a contingent purchase situation. Most of the respondents tend to restrict their monetary limit to spend in a contingent purchase situation. Respondents tend to evaluate the sources of funds to solve the contingent need for purchase. It has been observed that contingent purchase is highly uncertain, and it is very difficult to predict the emergence of the need for money for the contingent purchase. Respondents think about the solution for repayment or adjustment to the sources from where they are going to raise the fund. People involved in the information search while making the contingent purchase decision. Respondents tend to change their budget according to the need after searching the information regarding the product or services they want to purchase.This paper will help the readers to understand how Contingent decisionmaking works. After knowing the mechanism, the proper strategies can be made to provide relevant products and services to the customers.

Keywords:

Contingent, Decision Making, Unplanned Purchase, Process, Consumer.

Paper Details
Month5
Year2020
Volume24
IssueIssue 8
Pages9688-9695