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

Foreign exchange transactions, Foreign Exchange Transactions : A foreign e...

Foreign Exchange Transactions : A foreign exchange transaction is ultimately the purchase or sale of one national currency against another arising out of import or export of goods

How clear are indications of quality, Q. How clear are indications of quali...

Q. How clear are indications of quality? The amount of effort a consumer puts into searching depends on a number of factors such as the market (how numerous competitors are t

Sources of information- exports, SOURCES OF INFORMATION : An exporter woul...

SOURCES OF INFORMATION : An exporter would like to know about the market conditions and business practices in foreign countries. Let us study some major sources of information whi

Illustrate feedback stage in organisational buying, Q. Illustrate feedback ...

Q. Illustrate feedback stage in organisational buying? The feedback stage: This stage is anxious with the establishment of order routine performance feedback and so on and henc

Export trade control , Export Trade Control : Exports may be made freely e...

Export Trade Control : Exports may be made freely except to the extent they are regulated by the provisions of Import-Export policy, 1997-2002 or any other law for the time being

Understanding the nature of the problem, Understanding the Nature of the Pr...

Understanding the Nature of the Problem : The next step in defining the problem is to understand its origin and nature clearly. The best way of understanding the problem is to disc

What do you mean by trait theory, Q. What do you mean by Trait theory? ...

Q. What do you mean by Trait theory? Trait theory is a main departure from the qualitative or subjective approach to personality measurement. It postulates that persons possess

Describe the use of forward questions in questionnaire, Describe the use of...

Describe the use of forward questions in questionnaire development. Answer Questionnaire can be divided in three major parts generally: forward and opening questions; gene

Designing of two way cross-over , Designing of Two way cross-over 3500 Hz ...

Designing of Two way cross-over 3500 Hz A two way is cross is designed in a net pattern with passive materials that separate the frequencies in a smaller region. A cross over s

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