A new phone will be used to satisfy the communication and entertainment needs of an individual. Communication is an essential part of a person’s lifestyle since everyday people have to engage with each other and stay informed of the current affairs in the world. Although a mobile phone is a luxury product, it fulfills the tertiary wants of a person since it is needed to make life comfortable ( Ding, Tianyu and Ellen 2018) . A new phone will not only the communication and entertainment needs of an individual but will also have advanced features that meet the users’ expectations.
The main goal is upgrading to a new phone that has advanced technological features, meets the current user needs and is affordable. The current phones in the market allow users to surf the internet at a high speed, take quality pictures and videos, listen and watch music videos and stream movies online. Thus, the phone market is quite competitive and provides consumers with a wide range to select from. However, the aim is to get a phone that is from a reputable brand, is affordable and has excellent features.
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The selection of phones to choose from include the iPhoneX, the Samsung S10 plus, and Huawei mate 20 pro. These phones have different characteristics and features, hence, to choose the ideal phone; the user needs to compare their individual characteristics. The three phones are manufactured by reputable companies that have expertise in phone manufacturing, and there is an assurance of long lifespan. The three phones use GSM, HSPA, and LTE technology; these are among the best technology systems in the industry. The three phones have wireless changing systems with long-lasting batteries. They are also secure since they have fingerprints sensors. The phones differ in terms of security in that iPhoneX, and the Huawei mate pro have face ID while Samsung S10 plus does not have it.
Samsung S10 plus has a 7-megapixel camera whereas the iPhoneX has a 10-megapixel camera and both phones are equipped with HDR. On the other hand, Huawei mate 20 pro has a 40-megapixel camera without HDR. In this case, Huawei mate 20 pro is less favorable in terms of camera resolution. One needs slightly light and slim phone for efficiency when carrying around, Samsung S10 plus weighs 157grams; iPhoneX weighs 174 grams, and Huawei mate 20 pro weighs 189 grams. In this case, Samsung S10 plus is lighter hence more portable. The operating system of a phone has is an important feature to consider before purchasing one, while both Huawei mate 20 pro and Samsung S10 plus use Android operating system, the iPhoneX uses the IOS system, which is the most preferred system in the USA. The iPhoneX costs $744, Huawei mate 20 pro costs $869, and the Samsung S10 plus costs $899, hence, the iPhoneX is the cheapest phone in this case.
There are seven steps involved in any decision-making process and are applicable when purchasing a new cell phone. The first step is the identifying the challenge. The challenge in this case, is buying a better phone, which is an upgrade to the previously owned. The other challenge is identifying the appropriate financial plan that will facilitate the purchasing of the phone.
The second step involves gathering information on different phones and comparing the features on each of the phones. Thirdly, one needs to analyze the situation. One needs to evaluate their current financial status and consider if they can afford the phone of their choice. The fourth step involves the development of options. Generation of options is essential since one has a variety of brands to select from. For example, in the case above, one has three phones and has to decide which is the best option.
The fifth step involves the evaluation of alternatives; in this case, the alternative involves the three phones. Alternatives refer to the available selections that a buyer is presented with ( Shadlen 2016) . Therefore, the best alternative should be considered in term of price and features of the phones. Once an individual has made a decision on their preferred phone brand they are expected to decide on the viable methods of accessing the funds to pay for the phone. The sixth step involves deciding on the best action to take, this step is necessary since one can make the wrong decision. One can be friends with people who have the three phones and compare their functionality and discuss the pros and cons of each phone. Moreover, one also needs to access the phone with the best features and affordable prices. Acting on the decision is the final step; this involves doing what is necessary to solve the problem. For effective action, various motivation steps are necessary. For example, one can have a picture of the phone hanged in the bedroom wall to remind them that they need to earn enough to buy the phone.
Once an individual has settled on one phone from the selection they have to forego the other alternatives. Therefore, they have to consider the opportunity is the value of the brand that one given up on in order to settle on the other option available ( Argyres, Mahoney, & Nickerson 2019). In this case, the opportunity cost of having one phone is forgetting about the others, this is because one cannot have the three phones. Many sacrifices are going to be made to have the preferred phone; these sacrifices relate to the choice that an individual has settled on. One of choice involves having to work overtime; hence one has to work during their leisure time. On the other hand, one can decide to save up for enough money, hence they need to reduce the expense on some other goods such as clothes and shoes. Alternatively, one can use both choices.
In the case above, the preferred product choice is the Samsung S10 plus. There are several reasons for this choice. The main reason is because it is the latest product in the market; therefore, it has the most recent technology features. Secondly, many people in school and around have the other two types of phones. It is important to be unique, and paying a few dollars above the cost of other phones is a reasonable sacrifice for the uniqueness. Finally, the phone's camera has superior qualities compared to the others.
The phone can be bought from the shop or from online platforms such as Amazon. Buying luxurious things through loan money is not economically advisable. Therefore, the method that will be effective in purchase is saving up enough money then purchasing it. By working overtime and sacrificing ones leisure time and activities, a month’s saving will be enough to purchase the Samsung S10 plus. Considering the two purchase options, the most effective method is by buying at the retail shop. The reason for this choice is because it allows the buyer to check the product functionalities and through that one can avoid default products ( Pappas 2016) . Moreover, through buying at the shop one can avoid all troubles involved in online buying such as waiting for delivery.
Purchasing a new phone involves various decision-making processes. Phones are luxurious goods hence they only fulfill the tertiary wants of the buyer. Furthermore, various sacrifices are necessary for the achievement of a personal goal. As a result, one must carefully deliberate before deciding to buy a luxury product such as a phone.
References
Argyres, N., Mahoney, J. T., & Nickerson, J. (2019). Strategic responses to shocks: Comparative adjustment costs, transaction costs, and opportunity costs. Strategic Management Journal , 40 (3), 357-376.
Ding, H., Jiang, T., & Riloff, E. (2018, June). Why is an event effective? Classifying affective events based on human needs. In Workshops at the Thirty-Second AAAI Conference on Artificial Intelligence .
Shadlen, M. N., Kiani, R., Newsome, W. T., Gold, J. I., Wolpert, D. M., Zylberberg, A., ... & Roitman, J. (2016). Comment on “Single-trial spike trains in parietal cortex reveal discrete steps during decision-making.” Science , 351 (6280), 1406-1406.
Pappas, I. O., Kourouthanassis, P. E., Giannakos, M. N., & Chrissikopoulos, V. (2016). Explaining online shopping behavior with fsQCA: The role of cognitive and affective perceptions. Journal of Business Research , 69 (2), 794-803.
