Stages Of The Buying Decision Process

INTEL Welcomes U Be corporate friends It should be “WE” instead of “I”

Stages of the Buying Decision Process

Decision Making Steps Problem recognition

Information search

Evaluation of alternatives

Purchase

Post purchase evaluation/ behavior

1.Problem or Need Recognition 





Triggered by internal or external stimuli. Internal stimulusnormal hunger, thirst etc External stimulus

2.Information Search Consumer information sources fall into 4 groups  

 

Personal sources: family, friends, neighbors etc Commercial sources: advertisements, salespersons, dealers, packaging etc Public source: mass media, consumer rating organizations Experiential sources: Handling, examining, using the product.

Metamediary Edmunds. COM, offers a variety of information services to assist those shopping for a vehicle.

Consumer Buying Decision Process

3.Evaluation of alternatives Consumer evaluation process   

Try to satisfy a need Looks for certain benefits from the product Sees each product as a bundle of attributes with varying abilities for delivering the benefits sought to satisfy the need.

Attributes of interest to buyers ♫ ♫ ♫ ♫

Cameras-picture sharpness, speed, size, price Hotels-location, cleanliness, atmosphere, price Mouthwash- colour, effectiveness, germ-killing capacity, price, taste/flavour Tire-safety, tread life, ride quality, price

Marketing strategy to match with customers attributes Redesigning (real repositioning)  Alter the belief about the brand (psychological repositioning)  Alter beliefs about the competitors brand (competitive repositioning)  Alter the importance of weights  Call attention to the neglected attributes 

4.Purchase decision Evaluation of alternatives

Attitudes of others

Purchase Decision

Purchase Intention

Unanticipated situational factors

I.

Attitude of others

The extend to which another person’s attitude reduces one’s preferred alternatives based on two things 1. Other person’s negative attitude towards the consumer’s preferred alternative 2. Consumer’s motivation to comply with the other person’s wishes.

Unanticipated situational factors A consumer’s decision to modify, postpone or avoid a purchase decision is heavily depend on the perceived risk. Amount of perceived risk varies with the -amount of money at stake. -amount of attribute uncertainty. -amount of consumer’s self confidence. Consumers develop routines to reduce risk -decision avoidance. -information gathering from friends. -preference to international brand. -warranties. I.

Execution of purchase intention

A brand decision

Vendor decision (dealer)

Quantity decision (how much/ how many)

Payment method decision (credit or cash)

Timing decision (when)

5.Post purchase behavior Marketer should monitor….. II. Post purchase satisfactiondisappointed, satisfied, delight III. Post purchase action-exit option, voice option. IV. Post purchase use and disposal-throw it away or resale.

How Consumers Use or Dispose of Products

Reference 

Philip kotler’s--MARKETING MANAGEMENT