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

Analyse how globalisation influenced policies of a bank, Critically evaluat...

Critically evaluate the impact of globalisation (i)  Analyse how globalisation influenced policies and decision making on State Bank of India. (ii) Critically undertake the u

Describe the term - materials, Describe the term - Materials Materials...

Describe the term - Materials Materials department uses research to create suitable policies regarding. Where to buy? How much to buy? When to buy? At what pric

Learning model of consumer behaviour, Q. Learning model of consumer behavio...

Q. Learning model of consumer behaviour? Learning model : Classical psychologists have been concerned in the formation and satisfaction of needs as well as tastes. They disput

Errors in the research process, While undergoing the steps involved in the...

While undergoing the steps involved in the research process the researcher should ensure that the research does not have a high degree of error. If no care is exercised in m

Purchase decision, Once the alternatives have been evaluated the consumer i...

Once the alternatives have been evaluated the consumer is ready to make a purchase decision. Sometimes purchase intention doesn't result in an actual purchase. The marketing organi

Purchase discount of foreign bills, Purchase Discount of Foreign Bills : P...

Purchase Discount of Foreign Bills : Purchase or discount facilities in respect of export bills drawn under confirmed export contracts are generally granted to exporters who enjoy

What do you mean by public relations, Problem 1 While developing an adv...

Problem 1 While developing an advertisement, some theories are useful. Discuss the two theories to design an advertisement. Hierarchy of effects theory Means end theor

Explain research nature and objectives in addition to types, Explain resear...

Explain research nature and objectives in addition to types (1)To identify and find solutions to the problems: Research is essential to understand the problem in depth. Fo

Stages in organisational buying, Q. Areas of operation in industrial buying...

Q. Areas of operation in industrial buying? The initiation stage: This is a phase in which a problem or a need is recognised by the organisation. For instance as a result of

Filing claims, Filing Claims : The insured will file claim with the insura...

Filing Claims : The insured will file claim with the insurance company after meeting the aforementioned requirements. The insurance company is generally contacted immediately on d

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