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

Internal and external criterai of research problem, AskWhat are the interna...

AskWhat are the internal and external criteria of selecting a research problem?

Purpose of writing research report, PURPOSE OF WRITING RESEARCH REPORT ...

PURPOSE OF WRITING RESEARCH REPORT Three main purposes are there for writing a research report. These are: i) Writing report for partial fulfillment of your degree. ii)

Introduction-export sales contract, Introduction: Exports and imports are ...

Introduction: Exports and imports are carried out by traders who are residents of different countries. Goods have to cross national frontiers and several types of physical and fin

Packing credit-eligibility, Eligibility: Packing credit is available to al...

Eligibility: Packing credit is available to all exporters whether merchant exporters, Export1 Trading/Star Trading/Super Star Trading Houses and manufacturer exporters. Manufactur

Mechanical observation, briefly discuss mechanical observation. what is it ...

briefly discuss mechanical observation. what is it and why is used?

Advance intermediate licence, Advance Intermediate Licence : An advance ...

Advance Intermediate Licence : An advance intermediate licence is granted to a manufacturer exporter for the import of inputs required in the manufacture of goods to be supplied

Risk reversal, Differentiate yourself with disgracefully bold guarantees th...

Differentiate yourself with disgracefully bold guarantees that you're competition don't have the guts for. Most people are authentically honest, and if your service is what you say

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