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

Risk as an importer, Risk as an Importer : The position is entirely oppo...

Risk as an Importer : The position is entirely opposite of what it is for the exporter. If the importer is billed in rupees, he does not stand to loss at all whether the foreign

Small exporter''s policy, SMALL EXPORTER'S POLICY : The small exporter's...

SMALL EXPORTER'S POLICY : The small exporter's policy is basically the standard policy. It incorporates certain improvement in terms of cover, in order to encourage small export

Advance against bills sent on collection, Advance against Bills Sent on Col...

Advance against Bills Sent on Collection : Post-shipment finance is granted against bills sent on collection basis in the following situations: i) When the accommodation availa

Responsibilities of the insured , Responsibilities of the Insured : It...

Responsibilities of the Insured : It is the duty of the insured or his agents, in all cases, to take such measures as may be reasonable to avert or minimise a loss. Further,

Distinction between domestic sales contract, Distinction between Domest...

Distinction between Domestic Sales Contract and Export Sales Contract : A major point of distinction between a domestic and export contract lies in identifying the prope

Customs clearance stages, Customs Clearance Stages: There are four stage...

Customs Clearance Stages: There are four stages of customs involvement. These are: 1) Processing of documents at the Customs House i.e. the main office. This stage involves:

Me, what is the best way to obtain information about what consumers actuall...

what is the best way to obtain information about what consumers actually do

Consumer behavior, You are the member of an advertising team assembled to d...

You are the member of an advertising team assembled to develop a promotional campaign for a new digital camera. Develop three headlines for these campaigns each based on one of the

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