M Marketing Slide share (1).pptx

Presentation on what I've learned about the consumer decision making process.

1. CONSUMER BEHAVIOR Consumer DECISION PROCESS MODEL Marquette Curington

2. THE model NEED RECOGNITION---  INFORMATION SEARCH --- ALTERNATIVE EVALUATION --- PURCHASE AND CONSUMPTION ----- POST-PURCHASE

3. WANTS & NEEDS…TWO DIFFERENT THINGS wants are good or services that a consumer doesn’t need but simply desires. Needs are things that are seen as necessities.

4. Types of needs Functional –the performance of a good or services Psychological – personal gratification consumers associate with a product or service

5. Information search Internal – A consumer uses their own memory and knowledge about the product or service they’ve received from prior experiences. External – Outside information that is sought out by the consumer ranging from conversations with friends, to television, radio, consumer reports, sponsored media, etc.

6. Evaluation of alternatives While the information search is occurring, the consumer must come up with possible alternatives to the solution. Using Attribute sets. Universal – all possible choices for a product category Retrieval – brands that can be retrieved from memory Evoked – which are brands that consumer would consider when making a purchase

7. Purchase and consumption Consumers are ready to make a purchase Businesses use conversion rate to measure out of all of the visitors or possible customers actually made purchases. Some people become loyal customers, satisfied customers, unsatisfied customers or customers with undesirable consumer behavior or the consumer experiences post purchase cognitive dissonance ( usually on more expensive purchases) They can become any of the customer type listed about in post purchase because of

8. Post purchase Some people become loyal customers, satisfied customers, unsatisfied customers or customers with undesirable consumer behavior or the consumer experiences post purchase cognitive dissonance ( usually on more expensive purchases) They can become any of the customer type listed about in post purchase because of Multiple factors such as:

9. Post purchase cont. Psychological factors including; motives, attitudes, perceptions, learning and memory, lifestyle. Social Factors including: family, reference groups, culture. Situational factors including : purchase situations, sensory situations, temporal state. Marketing Mix including: Product, Place, Price and Promotion.

10. Consumer decision process to me The consumer decision process doesn’t seem very intricate and detailed to the naked eye or without analyzing it into steps. But even If done quickly even to memory of making purchases personally one can see clearly how each step was conducted and applied while deciding to make a purchase, conducting the purchase, and after the purchase.