ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -the stage in the buying decision process in which the buyer uses information gathered to make a final choice between the products in the evoked set.

Detailed explanation-2: -The third stage of the Consumer Decision Making Process, the evaluation of alternatives takes place when a consumer establishes criteria to evaluate the most viable purchasing option. Also known as “mental shortcuts” or “rules of thumb", heuristics help consumers by simplifying the decision-making process.

Detailed explanation-3: -Alternative evaluation is the stage of the buyer decision process in which the consumer uses the information to evaluate alternative brands in the choice set. Unfortunately, consumers do not use a simple and single evaluation process in all buying situations. Instead, several evaluation processes are at work.

Detailed explanation-4: -Evaluation is required in order to select the best alternative for implementation. While evaluating alternatives, the managers must compare the alternative plans or decisions. For this, the manager must consider the quantitative and qualitative factors.