The Buying Process_(consumer buying process).pptx

ppt

1. Consumer Buying Process Hannah Fortner

2. What is it? Consumer buying process are the steps a consumer takes in purchasing a good or service.

3. Five Main Stages 1.) Need Recognition 2.) Gather Information 3.) Evaluate Solutions 4.)Purchase Stage 5.)Post Purchase Stage

4. Need Recognition Finding problems that have solutions to them. Marketers take the problems and try to figure out the greatest needs that would be essential for them through products, services, or ideas. All purchasing decisions requires this step.

5. Gather Information Consumers look at the facts and statistics of a product or service. For marketers it is essential to build credibility for consumers interested. It is more likely for someone to buy something if there is knowledge behind the idea.

6. Evaluate Solutions/ Alternatives Consumers evaluate companies' goods to other brands. Consumers compare two or more businesses to each other so they can outweigh the costs from the benefits of each. The customers attitude and their involvement is a huge factor in evaluating the item.

7. Purchase Stage Where the purchase process takes place Allows the benefits to outweigh negative feedback Could lead to a very happy or unhappy customer in the end. Promoting the company and product either positively or negatively through word of mouth.

8. Post Purchase Stage Consumers will either be satisfied or dissatisfied with what they purchased. Comparing previous expectations to how it is now. Effects the purchasing phase for others such as brand loyalty and positive/negative explanations to others

9. Factors Cultural - Race, religion, associations, locations, etc. Social -Others promoting goods or services in both positive and negative ways. Personal - Morals, beliefs, budgets, values, etc. Psychological - A person's attitude when they are approached with a good/service

10. What is the Consumer Buying Process? (data-dynamix.com) 5 steps to understanding your customer’s buying process | B2B Marketing What Is Consumer Buying Behavior? (demandjump.com) Introduction and Objectives - 21.SP.MRK.2100.502 FOUNDATIONS OF MARKETING (sinclair.edu) Sources