purchasing decisions
TRANSCRIPT
Problem Recognition
Buyer recognizes a problem or need, triggered by internal or external stimuli
Internal stimuli External stimuli
Information Search
By gathering information, the consumer learns about competing brands and their features
Purchasing Decision
Risks of avoiding purchaseFunctional risk—The product does not perform to expectations. Physical risk—The product poses a threat to the physical well-being or health of the useror others. Financial risk—The product is not worth the price paid. Social risk—The product results in embarrassment in front of others. Psychological risk—The product affects the mental well-being of the user.Time risk—The failure of the product results in an opportunity cost of finding another satisfactoryproduct.
Post purchase Behaviour
Post purchase satisfaction Makes a difference in whether consumer buys the product again and recommends it to other Post purchase use and disposal Key driver of sales frequency. Product consumption rate Post purchase action
Thank you
Created by Anuj Maingi, IIT (BHU), Varanasiduring an internship
by Prof. Sameer Mathur, IIM Lucknow.
www.IIMInternship.com