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 under claim of rebate under rule 12, Export Under Claim of Rebate Un...

Export Under Claim of Rebate Under Rule 12(i) (A) Under the Central Excise Rule 12(i) (A), rebate of duty paid on export of duty paid goods shall be granted. The rule permits t

Investigate the planning principles or marketing strategy, Investigate the ...

Investigate the planning principles and range of tools and techniques involved in developing a general or marketing strategy (a) Select an organisation to use as a case study or

Customer interest, the relationship between customer interest and company i...

the relationship between customer interest and company interest

Surveying the available literature, Surveying the Available Literature: All...

Surveying the Available Literature: All available literature concerning the problem at hand must necessarily be surveyed and examined before a definition of the research problem is

Factors that influence the effectiveness of operant learning, Q. Factors th...

Q. Factors that influence the effectiveness of operant learning ? Numerous factors influence the effectiveness of operant learning. Generally the closer in time the consequen

Swot analysis, Integrative Research Paper & Power Point Presentation: Th...

Integrative Research Paper & Power Point Presentation: The student will select an organization for the Integrative Research Paper. The organization (possibly the student's emplo

Explain in brief about quota sampling, Elucidate quota sampling Quota ...

Elucidate quota sampling Quota sampling restricts the selection of sample by controlling the number of respondents by one or more criterion. Restriction generally includes quo

Prepare a note for declining sales of your products, Q. Prepare a Note for ...

Q. Prepare a Note for information of the Board of Directors on the reasons for declining sales of your Company's products for the quarter ending March 31, 2003? Ans. A p

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

GE MATRIX FOR AUTO MOBILE INDUSTRIES, SIR IN MY BUSINESS PROJECT WE HAVE NE...

SIR IN MY BUSINESS PROJECT WE HAVE NEED TO WEATHER ON WHICH WAY WE ABLE TO DEVELOP THE GE MATRIX FOR ANY AUTO MOBILE INDUSTRIES?

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