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

Miss, I have to do a marketing research of a customize cellphones company, ...

I have to do a marketing research of a customize cellphones company, for my marketing class, and I don''t have any idea of how to start. Could you help me.

Internal and external influences, Q. Internal and External influences? ...

Q. Internal and External influences? Internal influences Consumer behaviour is influenced by- personality, psychographics (lifestyle), demographics, motivation, knowledge,

Export declaration forms , EXPORT DECLARATION FORMS : All exports to which...

EXPORT DECLARATION FORMS : All exports to which the requirement of declaration applies must be declared on appropriate forms. These forms are as follows: GR form (in duplicate)

Market structure, 1. Perfect competitive and monopoly are extreme market st...

1. Perfect competitive and monopoly are extreme market structures,theoretically show garphically the short run equilibrium of both markets.To what extent are these markets realisti

Marketing plan for the business, QUESTION 1 Define and describe TWO ele...

QUESTION 1 Define and describe TWO elements of the Marketing Mix and discuss how each one would influence marketing decisions for a sportswear manufacturer. Use examples to ill

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

Market research for international marketing, Problem 1 List out the sec...

Problem 1 List out the secondary sources of information while pursuing market research. Market research for international marketing Secondary sources of information

Tt telegraphic transfer rate, TT (Telegraphic Transfer) Rate : Telegraphic...

TT (Telegraphic Transfer) Rate : Telegraphic Transfer rate may be either TT in detail. T.T. Buying Rate: This rate is applied for purchase of foreign currency by banks where cover

Rbi code number-other provisions, RBI Code Number: This code number is...

RBI Code Number: This code number is a requirement under the Foreign Exchange Regulation Act (FERA). For obtaining the code number, the firm has to apply to the Divisional Off

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