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 products02. new information
Changing Consumer Circumstances and Expectations
01. Improved education02. 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
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