How do customers buy, Marketing Research

Assignment Help:

Q. How do customers buy?

Research advised that customers go through a five-stage decision-making process in any purchase. This is précised in the diagram below:

496_How do customers buy.png

This model is significant for anyone making marketing decisions. It forces the marketer to regard as the whole buying process rather than just the purchase decision (when it may be too late for a business to influence the choice!)

The model entails that customers pass through all stages in every purchase. Nevertheless in more routine purchases customers often skip or reverse some of the stages.

For instance a student buying a favourite hamburger would recognise the requirement (hunger) and go right to the purchase decision skipping information search and evaluation.

Nevertheless the model is extremely useful when it comes to understanding any purchase that requires some thought and deliberation.

The buying process starts with require recognition. At this phase the buyer recognises a problem or need (example we need a new sofa, I am hungry, I have a headache) or responds to a marketing stimulus (example you pass Starbucks and are attracted by the aroma of coffee and chocolate muffins).

An "aroused" customer then requires deciding how much information (if any) is required. If the necessity is strong and there is a product or service that meets the need close to hand then a purchase decision is likely to be made there and then. If not subsequently the process of information search begins.

A customer can acquire information from several sources:

  • Personal sources: friends, family, neighbours and so on.
  • Commercial sources: retailers, dealers, salespeople, packaging, advertising and point-of-sale displays
  • Public sources: newspapers, consumer organisations radio, television and specialist magazines
  • Experiential sources: examining, handling and using the product the usefulness as well as influence of these sources of information will differ by product and by customer. Research suggests that customer's value as well as respect personal sources more than commercial sources (the influence of 'word of mouth'). The challenging task for the marketing team is to identify which information sources are most influential in their target markets.

In the estimation stage the customer must choose between the alternative brands as well as products and services.


Related Discussions:- How do customers buy

Sports marketing firm, You are interested in purchasing a new minor league ...

You are interested in purchasing a new minor league baseball franchise. The franchise will be located in your area. To reduce the risk in your decision making, you have requested t

Newspaper of your choice, Using marketing theory and concepts critically as...

Using marketing theory and concepts critically assess the marketing strategy of a newspaper of your choice. You should start with a general evaluation of their marketing strategy a

Post-shipment credit in foreign currency , Post-shipment Credit in Foreign ...

Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit

Explain psychoanalytical model of consumer behaviour, Q. Explain Psychoanal...

Q. Explain Psychoanalytical model of consumer behaviour? This model is on the basis of work of psychologists who were concerned with personality. They were of the outlook that

Calculate the behaviour of consumer, Culture is learned through the followi...

Culture is learned through the following three ways: 1. Formal learning : Parents as well as elders teach children the proper way to behave. For example you have been taugh

Marketing.., How is Markov process applied in brand switching

How is Markov process applied in brand switching

Swot analysis, Describe video games market segmentation  Segmentation cr...

Describe video games market segmentation  Segmentation criteria -Do SWOT analysis (Nintendo, Sony/Playstation, Microsoft/Xbox) -Define and describe Nintendo Wii Target mar

Sprite, what stage is sprite in the business life cycle?

what stage is sprite in the business life cycle?

Schedules of reinforcement, Q. Schedules of reinforcement? An additiona...

Q. Schedules of reinforcement? An additional issue is schedules of reinforcement and extinction . Extinction takes place when behaviour stops having consequences and the behav

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd