Consumer decision-making-process
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Transcript of Consumer decision-making-process
Submitted by-Rishab Gupta
CONSUMER BEHAVIOUR??
• Consumer behaviour is the study of when, why, how, and where people do or do not buy a product.
• It blends elements from psychology, sociology, social anthropology and economics.
• It attempts to understand the buyer decision making process, both individually and in groups.
• It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants.
Model of Consumer Behaviour
Roles of Consumer in C.D.M
Initiator
Influencer
Decider
Buyer
User
Factors affecting consumer behaviour
A Simple Model of Consumer Decision Making
Firm’s Marketing Efforts1. Product2. Promotion3. Price4. Channels of distribution
Sociocultural Environment1. Family2. Other noncommercial
sources3. Social class4. Subculture and culture
Need Recognition
Prepurchase Search
Evaluation of Alternatives
Psychological Field1. Motivation2. Perception3. Learning4. Personality5. Attitudes
Experience
Purchase1. Trial2. Repeat purchase
Postpurchase EvaluationOutput
Process
Input
External Influences
Consumer Decision Making
Postdecision Behavior
Consumer Decision Making
PurchaseAlternativeEvaluationSearchNeed
RecognitionPost-PurchaseEvaluation
• Consumer-side
• Marketer-side
Action Desire Interest Awareness
Need Recognition
The realization by the consumer that there is a difference between “what is” and “what should be.”
Pre-purchase Search A stage in the consumer
decision-making process in which the consumer perceives a need and actively seeks out information concerning products that will help satisfy that need.
AlternativeEvaluation Determine criteria to be used for
evaluation of products.
Assess the relative importance of the each criteria.
Evaluate each alternative based on the identified criteria.
Purchase Trial purchase would be in smaller in quantity and it would be also termed as Exploratory phase.
Repeat purchase is very closely related to brand loyalty, which firms try to encourage because it contributes to greater stability in the market share.
Long-Term Commitment Purchase means customers is loyal to one brand.
Post-Purchase Evaluation
The purchasing process does not end when a consumer buys a product . After the purchase consumers tend to evaluate their experience to decide if they are satisfied or dissatisfied.
The information will be used in future decision-making.
Outcomes of Post-purchase Evaluation
• Actual Performance Matches Expectations
• Actual Performance Exceeds Expectations• Positive Disconfirmation of Expectations
• Performance is Below Expectations• Negative Disconfirmation of Expectations
Types of Buying Behaviour
“Knowing who your customers are” is great, but knowing how they
behave is even better."