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.

The Consumer Behavior Simplified Model

The Consumer Simplified Model

If we see the Simplified Model we see the three things. Which are 01. Multiple Stimuli 02. Black Box 03. Target Audience Response.

The Consumer Behavior Simplified Model (Multiple Stimuli and Black Box)

Hare Multiple Stimuli contains with product, price, place and promotion and Another is Environmental Events contains with Economic, Technology, Political and Cultural Environment. In the Black Box Contains with different types of Potential Buyer Responses such as Product choice, Brand choice, Retailer choice, Purchase timing and Need Satisfaction. If we expand the black box we see that, there are different types of influences such as Intra-Personal Psychological Influences, Situational Influences and Iner-Personal Social Influences. Intra-Personal Psychological Influences means motives and perceptions. Inter Personal Social Influences related on culture and social class. All of the Influences (Intra-Personal Psychological, Situational and Inter-Personal)are mediated by audience characteristics such as Gender, Age and others.Finally the outcome is the Decision Process.

Why Study Consumer Behavior?

1. To increase a manager’s confidence to predict consumer  responses to their marketing strategy

2. To understand the consumer decision process for goods, services, and ideas

3. To implement the Marketing Concept . . a plan to influence buyer – seller exchanges to meet organizational goals

4. To understand complex influences on consumption processes

5. To conceptualize basic models of consumer behavior

6. To avoid “the Self-Reference Criterion”

7. To produce customarily product.

8. To know consumer need.

9. To increase sales.

What is Consumer Behavior?

The Consumer Behavior

What is Consumer Behaviour?

Consumer Behavior is the "Processes a consumer uses to make a purchase decisions, as well as to use and dispose of purchased consumer's or customer's goods or services; and also includes factors that influence in the purchase decisions and the product use."

The actions a person takes in purchasing and using products and services, including the mental and social processes that precede and follow these actions. The behavioral sciences help answer questions such as: 

• Why people choose one product or brand over another? 
• How they make these choices? and 
• How companies use this knowledge to provide value to consumers?

Consumer Behaviour in Consumer Decision Process

Multiple Participants in the Consumer’s Decision Process. Such as: Initiators, Users, Deciders, Influencers (Gatekeeper)and Buyer.