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

How can the marketing organization raise the likelihood, Q. How can the mar...

Q. How can the marketing organization raise the likelihood? At this time the consumer compares the brands as well as products that are in their evoked set. How can the marketin

Introduction-export sales contract, Introduction: Exports and imports are ...

Introduction: Exports and imports are carried out by traders who are residents of different countries. Goods have to cross national frontiers and several types of physical and fin

Introduction- exports document, Introduction : In the Previous we learn th...

Introduction : In the Previous we learn the importance and the role of experts in a developing country like India as well as the policy framework in which exporting firms operate

Literature search procedure, The above table shows that a researcher has to...

The above table shows that a researcher has to review the various kinds of literature relating to the selected field of study. How can be identify the related materials? This resea

Deferred credit facilities, DEFERRED CREDIT FACILITIES : Export of goods o...

DEFERRED CREDIT FACILITIES : Export of goods on deferred payment terms can be financed under suppliers credit or Buyer'$ credit. Let us first understand what they are. Supplie

Export of repaired goods, Export of Repaired Goods: Goods or parts thereof...

Export of Repaired Goods: Goods or parts thereof on being exported and found defective damaged or otherwise unfit for use may be imported for repair and subsequent re-export. S

Why marketer need to understand customer evaluation process, Q. Why must a ...

Q. Why must a marketer need to understand the customer evaluation process? The answer lies in the type of information that the marketing team needs to provide customers in diff

Ecgc schemes for covering exchange risks, ECGC SCHEMES FOR COVERING EXCHANG...

ECGC SCHEMES FOR COVERING EXCHANGE RISKS: The ECGC has evolved two schemes to provide greater protection to exporters of capital goods and turnkey project against the risk of fluc

Extraneous perils , Extraneous Perils : These are the incidental perils to...

Extraneous Perils : These are the incidental perils to which the cargo is exposed. These are caused mainly on account of the faults in loading, keeping, carrying and unloading of

How can you explain the concept of culture and subculture, Q. How can you e...

Q. How can you explain the concept of culture and subculture? For the principle of studying consumer behaviour culture can be defined as the sum total of learned beliefs values

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