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

Excise rebate policy, Excise Rebate Policy : The scheme under which the Ce...

Excise Rebate Policy : The scheme under which the Central Excise exemption or refund is provided is popularly known as Rebate of Central Excise. This scheme operates under Section

Describe important characteristics of culture, Q. Describe important charac...

Q. Describe important characteristics of Culture? (1) Culture is comprehensive . This signifies that all parts must fit together in some logical fashion. For instance bowing a

State the meaning of research, State the meaning of  Research. Introd...

State the meaning of  Research. Introduction: Research is an art of scientific investigation. Research covers search for and retrieval of information for a particular purp

Customer interest, the relationship between customer interest and company i...

the relationship between customer interest and company interest

How can consumer behavior create diffusion of innovation, Q: How personal i...

Q: How personal influence of consumer behavior can create Diffusion of Innovation.? Ans: Products be likely to go through a life cycle. Primarily a product is introduced. S

What are the motivational conflicts, Q. What are the Motivational conflicts...

Q. What are the Motivational conflicts? Motivational conflicts: _ Positively valued goals means consumers are motivated to approach the goal and will seek out products tha

Scope of the act , Scope of the Act : The Foreign Exchange Regulation Act ...

Scope of the Act : The Foreign Exchange Regulation Act covers the types of transaction having international financial implications. Broadly the Exchange Control regulates the fo

Important facts of writing research reports, What are the key issues to kee...

What are the key issues to keep in mind when writing research reports? Answer Before communicating the results of project to the manager, researcher must keep several issu

Explain the nature of consumer behaviour, Q. Explain the Nature of consumer...

Q. Explain the Nature of consumer behaviour? Consumer behaviour is dynamic The perceptions, feelings, thinking and actions of the customer and the society at large keep ch

Surveying the available literature, Surveying the Available Literature: All...

Surveying the Available Literature: All available literature concerning the problem at hand must necessarily be surveyed and examined before a definition of the research problem is

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