Consumer Buying Decision Process

Introduction to Consumer Buying Decision Process.
Types of Buying Decision Process.

1. STAGES IN BUYING DECISION PROCESS 5 AKSHITA || 19BC630 II Bcom Hons || Section H

2. Meaning of Buying Decision Process The buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives. Common examples include shopping and deciding what to eat. 2

3. S tages of Consumer Buying Decision Process ‹#› The 5 Stages Framework remains a good way to evaluate the customer’s Buying Process. Need Recognition Information Search Evaluating Alternatives Purchase Decision Post Purchase

4. #1 Need Recognition NO NEED, NO PURCHASE Consumer’s need is Triggered by Internal or External Stimuli. ‹#›

5. External Need: I haven’t taken lunch yet: I’ll buy some food at the supermarket Internal Need: That dish looks and smells so good. I’ll give it a try.

6. #2 Information Research Consumer seek information that can help him make a purchasing decision. ‹#›

7. External Information : Already present in the consumer’s memory. How was my experience with This camera brand last year? Internal Information : Obtained from other consumers. How do professional photographers rate this camera?

8. #3 Evaluation of Alternatives Consumer evaluates alternatives based on product features, brand perception, and other attributes. ‹#›

9. This laptop is small, light, and has long battery life. Perfect for Travelling. Consumers consider different Attributes This laptop’s graphic card, hard drive and operating system are ideal for coding.

10. #4 Purchase Decision Consumer chooses the product that resolves the need. ‹#›

11. #5 Post-Purchase Behaviour “A Consumer talking about their experience with you is worth ten times that which you write or say about yourself.” - David J. Greer ‹#› Consumer determines if he or she made the right purchase. Satisfied consumers will most likely share their experience and become loyal customers.

12. Based on this buying decision process, what should marketers and sales people remember? ‹#›

13. Reinforce the brand through marketing strategies. Let consumers feel the need. ‹#› Billboards Flyers Social Media Platforms

14. Provide accessible and concrete information about the products or services. ‹#› Websites Information Catalogues

15. Monitor and manage customer’s questions and feedback. ‹#› O Online Reviews Social Media C Comments Internet Forums

16. Enhance Customer Relationships:- ‹#› Establish a Complaint handling process Review warranty Policy if applicable Train sales & customer representatives

17. “Customer loves certainty, make sure you give it to them.” ‹#› ‹#›

18. THANK YOU!