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

Objectives-export sales contract, OBJECTIVES After studying this unit, ...

OBJECTIVES After studying this unit, you should be able to: 1.  explain the nature of export sales contract 2.  distinguish between domestic sales contract and export sal

Duty exemption scheme, DUTY EXEMPTION SCHEME : Registered exporters are el...

DUTY EXEMPTION SCHEME : Registered exporters are eligible for the facility of duty free import of raw materials, components, packing materials, etc., required for manufacture of t

Explain engel-kollat-blackwell model, Explain Engel-Kollat-Blackwell Model ...

Explain Engel-Kollat-Blackwell Model Variables grouped into following categories a) Stimulus inputs b) Information processing c) Decision process and d) Variables

Internal and external criterai of research problem, AskWhat are the interna...

AskWhat are the internal and external criteria of selecting a research problem?

Definition of research according to p.m. cook, Definition of Research Accor...

Definition of Research According to P.M. Cook "Research is an honest, exhaustive, intelligent searching for facts and their meanings for implications with reference to given pr

What do you mean by vicarious learning, Q. What do you mean by Vicarious le...

Q. What do you mean by Vicarious learning? The consumer doesn't always require going through the learning process himself or herself-sometimes it is possible to learn from obs

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

Drawback rates, Drawback Rates : Two types of drawback rates are availab...

Drawback Rates : Two types of drawback rates are available: 1) All Industry Rates: These are published in the form of notification by the government every year and are normal

Email Marketing Question, Is it considered acceptable or bad form to use on...

Is it considered acceptable or bad form to use one e-newsletter address list to send a new newsletter from the same company but since it is a new e-newsletter, the recipients had n

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