how do consumers make purchasing decisions
TRANSCRIPT
How do consumers make
purchasing decisions
Problem recognition
Information search
Evaluation of alternatives
Purchase decision
Postpurchase behavior
The Buying Decision Process:The Five – Stage Model
Problem recognition
Information search
Evaluation of alternatives
Purchase decision
Postpurchase behavior
STAGE 1
The buying process starts when needs are triggered by internal or external stimuli.
I want to go to HAITI
External Stimuli
Problem recognition
Information search
Evaluation of alternatives
Purchase decision
Postpurchase behavior
STAGE 2
Information sources
Personal: Family & Friends
Commercial:Web sites,
dealers
Public :Mass media
Experimental:Handling,
examining
Problem recognition
Information search
Evaluation of alternatives
Purchase decision
Postpurchase behavior
STAGE 3
The consumer is trying to satisfy
his need
Consumer sees each product as a bundle of attributes with varying
ability to deliver benefits.
I will prefer model A and model D Because of high perceived value.
Problem recognition
Information
search
Evaluation of
alternatives
Purchase
decision
Postpurchase behavior
STAGE 4
In the evaluation stage consumer forms preferences among the brands
Intervening factors between purchase intention and final purchase decision
Attitude of others.The more negativism and the
closer he or she is to us, the more we will adjust our purchase
decisions.
Unanticipated situation factors:-
Functional riskPhysical riskFinancial risk
Social riskPsychological risk
Time risk
Problem recognition
Information
search
Evaluation of
alternatives
Purchase
decision
Postpurchase behavi
or
STAGE 5
Post purchase satisfaction
Satisfied Delighted
Disappointed
Post purchase behavior- Disposal
Recap
Consumers make purchasing decision as follows:
•Problem recognition•Information search•Evaluation of alternatives•Purchase behavior•Post purchase behavior
KOTLER, P. & KELLER, K. 2011. Marketing Management 14th Edition,Upper Saddle River, NJ, Prentice Hall(With due thanks to the owners of Photographs)
Credit
Disclaimer :Paras Arora
H.B.T.I. Kanpurduring an internship by Prof. Sameer Mathur,
IIM Lucknowwww.iiminternship.co
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