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

Export declaration , Export Declaration : 'Every exporter must make a true...

Export Declaration : 'Every exporter must make a true declaration in the prescribed form. The declaration is mandatory and includes: i) The full export value of the goods; or

Give a overview of organizational buying behavior, Q: Give a descriptive ov...

Q: Give a descriptive overview of organizational buying behavior? Ans: Selling strategies that objective the organisational customer and use the concept of the buying centre bu

Benefit segmentation in regard to consumer behaviour, Explain Lifestyle and...

Explain Lifestyle and Psychographic Segmentation and benefit segmentation in regard to consumer behaviour. Ans: For several years demographics have governed how communication t

Survey report, How do customers feel about service charges? and can you exp...

How do customers feel about service charges? and can you explain it by demographic characteristics?

Illustrate about the quantitative and qualitative research, Illustrate abou...

Illustrate about the Quantitative and Qualitative Research Quantitative research is based on the measurement of amount or quantity. It's applicable to phenomena which can be e

Duty entitlement pass book, Duty Entitlement Pass Book : Under the Duty En...

Duty Entitlement Pass Book : Under the Duty Entitlement Pass Book scheme, an exporter shall be eligible to claim credit as a specified percentage of FOB value made in freely conve

Cost plus pricing, what is cost plus pricing nd give some examples of cost ...

what is cost plus pricing nd give some examples of cost plus pricing?

Importance of data cleaning in preliminary data analysis, Discuss importa...

Discuss importance of data cleaning  in preliminary data analysis In most surveys, it takes place so that respondent has either provided ambiguous response or response has bee

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