Buying Process (Consumer Decision Process)

Consumer Buying Process or Consumer Decision Process

We know about the five stage of consumer decision process, hare it is, In the Stage-1. Problem or Need Recognition Increases the Intensity of (Need)or Wants.

Major Causes of Problem Recognition or Opportunity

Science and Technology Advancements

01. new products
02. new information

Changing Consumer Circumstances and Expectations

01. Improved education
02. family life cycle
03. income adjustments

ICEBERG EFFECT

If we see the picture which is given below, we could easily understand about the Iceberg Effect

Psychology of Simplification/Complication

Consumers try to simplify decision making by reducing the amount of information processing

Simplified Linear Model of the Consumer Decision Process

In the Simplified Linear Model of the Consumer Decision Process, we have found five stages. Such as,
Stage 1. Problem or need recognition Stage
2. Information Search Stage
3. Evaluation of Alternatives Stage
4. Purchase Decision(s) Stage
5. Post-Purchase Behavior
For understanding the consumer decision process we have to know about Major Influences in the Consumer’s “Black Box”

Multiple Participants in the Consumer’s Decision Process

There are different types participants in the consumer decision process. The participants are influencing the consumer or buyer. Multiple participants are user, initiators, deciders and Influencers (Gatekeeper). If we see the picture, we will understand it.