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

Comparison between sampling errors and non sampling errors, a.Sampling erro...

a.Sampling error is measurable while it is not easy to measure a non sampling errors. b.Sampling error decrease as the sample size increase. This is not necessarily so in the ca

Introduction-cargo insurance, INTRODUCTION : Cargo insurance, commonly kno...

INTRODUCTION : Cargo insurance, commonly known as marine insurance, occupies an important position in international business. It provides protection against unanticipated business

Converting management dilemma into research, When converting management dil...

When converting management dilemma into research questions, what issues should be considered and why? Answer A manager when faced with a dilemma is surrounded by numerous

Surrogate information errors, Surrogate Information Errors: this type of er...

Surrogate Information Errors: this type of error occurs when the information sought by the researcher is different from the information needed to solve the problem. For example whe

Activities that are carried out in marketing research, Question 1: "Mar...

Question 1: "Marketing Research is a systematic and planned formal approach to the collection of marketing information." This implies that there is a formal marketing research

Form of contract-nature of export sales contract, Form of Contract: Th...

Form of Contract: There are no universally acceptable norms as to the form of export contracts. It need not be a formal document signed by both the parties and it need to be s

Why marketer need to understand customer evaluation process, Q. Why must a ...

Q. Why must a marketer need to understand the customer evaluation process? The answer lies in the type of information that the marketing team needs to provide customers in diff

Explain search stage in organisational buying, Q. Explain Search stage in o...

Q. Explain Search stage in organisational buying? Search stage: This stage comprises information search regarding vendors their credibility their compatibility with the requi

Databases, 4 types of maintaining a database and description

4 types of maintaining a database and description

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