how do consumers make purchasing decisions?
TRANSCRIPT
ANALYSING
MARKETS
THE BUYING DECISION PROCESS
FIVE STAGE MODEL
PROBLEM RECOGNITIONTHE BUYING PROCESS STARTS WHEN BUYER
RECOGNISES A PROBLEM BY INTERNAL OR EXTERNAL STIMULI
INTERNAL STIMULUS
ONE OF THE PERSON’S NORMAL NEEDS
HUNGER
THIRST
EXTERNAL STIMULUS
A PERSON ADMIRING FRIEND’S CAR AND PROBABLY MAKING DECISION TO PURCHASE
INFORMATION
INFORMATION SOURCES
PERSONALFRIENDS AND FAMILY
COMMERCIALADVERTISING
PUBLICCONSUMER RATING ORGANISATION
EXPERIENTIALUSING THE PRODUCT
EVALUATION OF ALTERNATIVES
EXPECTANCY-VALUE MODEL
PURCHASE DICISION
INTERVENING FACTORS
ATTITUDE OF OTHERSPOSITIVENEGATIVE
PERCEIVED RISCFUNCTIONAL RISK PHYSICAL RISKSOCIAL RISKTIME RISC
POST PURCHASE BEHAVIOUR
DISAPPOINTED
SATISFIED
DELIGHTED
POST PURCHASE ACTION
BUY THAT PRODUCT.SERVICES ARE BEST
+ WORD OF MOUTH - WORD OF MOUTH
NEVER BUY THAT PRODUCT. SERVICES ARE WORST
POST PURCHASE USES AND DISPOSAL
SUMMARY
THE TYPICAL BUYING PROCESS CONSIST OF FOLLOWING SEQUENCE OF EVENTS:: PROBLEM RECOGNITION, INFORMATION SEARCH, EVALUATION OF ALTERNATIVES, PURCHASE DECISION, POST PURCHASE BEHAVIOUR. THE MARKETERS JOB IS TO UNDERTAND THE BEHAVIOUR AT EACH STAGE AND MAKE CONSUMERS SATISFIED.
