Online Car Buying
Please answer Questions 1-3 of the “Online Car Buying” Financial Planning Case (Chapter 8: page 303).
Questions 1 and 2 are specific to MacKenzie’s online car buying experience. For Question 3, please address the benefits and drawbacks of online shopping for motor vehicles as well as other items. Your initial post should be a minimum of 250 words.
ANSWER
Online Car Buying
Question 1
The benefit of online car buying, based on Mackenzie’s experience, is that there is an easy comparison of prices. Mackenzie was able to compare various prices of different car models online, and the car features she desired before purchasing the vehicle. Online car-buying offers a wide variety of cars of different makes and models in which a customer like Mackenzie can choose the car of her choice. Online car-buying gave Mackenzie a platform to gather information on the available car models, operating costs, and safety features of different cars. The drawback in Mackenzie’s online car buying experience is that she did not physically inspect the car to check if everything was in order and functioning. Online car-buying makes it difficult to return or replace the car that has been bought in case of issues arising since payment has already been made.
Question 2
Mackenzie should physically examine the car before buying it online to ensure that the engine is well and functioning. A physical examination will help her avoid future costs in maintenance and repair of the car. Before buying the car, Mackenzie should also do window shopping on various car brands and car dealers to see which dealer has a good variety of cost-effective cars. Mackenzie should consider evaluating alternatives before buying a car to help her compare different vehicles and help her decide on the mode of payment, either through cash or credit (Gusakov & Morrison, 2016).
Question 3
Online shopping has a variety of benefits, such as saving time whereby customers purchase items from the comfort of their homes and goods purchased are delivered to them. Online shopping offers a wide variety of products and items in which customers can make comparisons and decide on the various items they want to purchase. There are good discounts in online shopping whereby prices are lowered to an affordable price, and goods are readily available online in which customers can purchase them any time of the day. Online shopping has its drawbacks, like frauds who cheat customers through fake online shopping websites that sell counterfeit products. Delays in the delivery of products bought online can be frustrating and can lead to the customer’s disappointment. Online shopping does not allow customers to examine the products physically since the purchase is made online. Online shopping makes it difficult for customers to return the products purchased online, more so personal products such as lipsticks (Svatosova, 2020).
References
Gusakov, D., & Morrison, S. (2016). INSIDER TIPS AND STRATEGIES FOR SUCCESSFUL USED CAR SHOPPING. 77.
Svatosova, V. (2020). The Importance of Online Shopping Behavior in the Strategic Management of E-Commerce Competitiveness. Journal of Competitiveness, 12(4), 143–160. https://doi.org/10.7441/joc.2020.04.09
