Remember to submit your work following the file naming convention FirstInitial.LastName_M01.docx. For example, J.Smith_M01.docx. Remember that it is not necessary to manually type in the file extension; it will automatically append.

Start by reading and following these instructions:

  1. Quickly skim the questions or assignment below and the assignment rubric to help you focus.
  2. Read the required chapter(s) of the textbook and any additional recommended resources. Some answers may require you to do additional research on the Internet or in other reference sources. Choose your sources carefully.
  3. Consider the discussion and the any insights you gained from it.
  4. Create your Assignment submission and be sure to cite your sources, use APA style as required, check your spelling.
  5. The entire assignment must 1500 – 1750 words

Assignment:

Researching Consumer Purchases: Select a product of your choice. Obtain online reviews to evaluate and compare different brands of that product. Also obtain information on the product from people who sell the item and those who have recently purchased it. Compare the information received from these sources. Using the consumer buying matrix (p. 271 of your text), analyze this product. What factors affected the selection of the attributes and weights you chose for this purchase analysis? Determine which brand of product you prefer and justify your answer.

Identifying and Solving Consumer Problems: Conduct online research to determine the most common sources of consumer complaints. Interview someone who has had a consumer complaint. What was the basis of the complaint? What actions did the person take? Was the complaint resolved in a satisfactory manner?

Online Car Buying: With a click of the mouse, Mackenzie enters the auto “showroom.” In the past few months she had realized that the repair costs for her 11-year-old car were accelerating. She thought it was time to start shopping for a new car online and decided to start her Internet search for a vehicle by looking at small and mid-sized SUVs.  Her friends suggested that Mackenzie research more than one type of vehicle. They reminded her that comparable models were available from various auto manufacturers.  In her online car-buying process, Mackenzie next did a price comparison. She obtained more than one price quote by using various online sources. She then prepared an overview of her online car buying experiences. Mackenzie’s next step was to make her final decision. After selecting what she planned to buy, she finalized the purchase online and decided to take delivery at a local dealer.

In recent years, less than 5 percent of car buyers have actually purchased vehicles over the Internet. That number is increasing; however, car buying experts strongly recommend that you make a personal examination of the vehicle before taking delivery. 

Questions:

  1. Based on Mackenzie’s experience, what benefits and drawbacks are associated with online car buying?
  2. What additional actions might Mackenzie consider before buying a motor vehicle?
  3. What do you consider to be the benefits and drawbacks of shopping online for motor vehicles and other items?

Determining Appropriate Housing: What type of housing would you suggest for people in the following life situations? (a) A single parent with two school-age children; (b) A two-income couple without children; (c) A person with both dependent children and a dependent parent; (d) A couple near retirement with grown children. Explain your answers.

Housing Decisions: When Mark and Valerie Bowman first saw the house, they didn’t like it. However, it was a dark, rainy day. They viewed the house more favorably on their second visit, which they had expected to be a waste of time. Despite cracked ceilings, the need for a paint job, and a kitchen built in the 1980s, the Bowmans saw a potential to create a place they could call their own.

Beth Young purchased her condominium several years ago. She obtained a mortgage rate of 6.75 percent, a very good rate then. Recently, when interest rates dropped, Beth was considering refinancing her mortgage at a lower rate.

Matt and Peggy Zoran had been married for five years and were still living in an apartment. Several of the Zorans’ friends had purchased homes recently. However, Matt and Peggy were not sure they wanted to follow this example. Although they liked their friends’ homes and had viewed photographs of homes currently on the market, they also liked the freedom from maintenance responsibility they enjoyed as renters.

Questions:

  1. How could the Bowmans benefit from buying a home that needed improvements?
  2. How might Beth Young have found out when mortgage rates were at a level that would make refinancing her condominium more affordable?
  3. Although the Zorans had good reasons for continuing to rent, what factors might make it desirable for an individual or a family to buy a home?
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