buying decisions process -q3,4
TRANSCRIPT
HOW DO CONSUMERS MAKE PURCHASING DECISIONS?
IN WHAT WAYS DO CONSUMERS STRAY FROM A DELIBRATIVE,RATIONAL
DECISION PROCESS?
Buying Decisions Process
Problem Recognition
The buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli.
Purchase Decision
Non-compensatory modelsChoice Heuristics:ConjunctiveLexicographicElimination-by-aspects
Post purchase Behavior
disappointed
delighted
Satisfied
Post purchase Satisfaction
Post purchase ActionsReturn it
Keep it
But it AGAIN!
Recap
To understand how customers make buying decisions marketers must identify who makes and has put into buying decision; people can be initiators,influencers,deciders,buyers, or users.
Different marketing campaigns might be targeted to each type of person.
6-14
Other Theories of Consumer Decision Making
InvolvementElaboration
likelihood modelLow-involvement
marketing strategies
Variety-seeking buying behavior
Decision HeuristicsAvailabilityRepresentativenessAnchoring and
adjustment
6-15
Mental Accounting
Consumers tend to… Segregate gains Integrate losses Integrate smaller losses with larger gains Segregate small gains from large losses
Disclaimer
Created by,Divya Agarwal,Vasavi College of
Engineering, Hyderabad; during an internship
under Mr. Sameer Mathur, IIM Lucknow.
www.IIMinternship.com