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

Examine the role and importance of marketing research, Question 1: "Mar...

Question 1: "Marketing research ethics refers to taking an ethical and above-board approach to conducting marketing research that does no harm to the participant in the process

Marketing plan for the business, QUESTION 1 Define and describe TWO ele...

QUESTION 1 Define and describe TWO elements of the Marketing Mix and discuss how each one would influence marketing decisions for a sportswear manufacturer. Use examples to ill

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?

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

International marketing, Define international marketing and furnish its fea...

Define international marketing and furnish its features.

Objectives- exchange control, OBJECTIVES After studying this unit, you ...

OBJECTIVES After studying this unit, you should be able to: 1. Explain the objectives of exchange control; 2. Describe the principal provisions of Foreign Exchange Regula

Methods of dispute settlement , METHODS OF DISPUTE SETTLEMENT : There are ...

METHODS OF DISPUTE SETTLEMENT : There are many reasons due to which a dispute may arise between an exporter and an I importer. A common cause for dispute relates to quality. Und

Uses or importance of marketing research to economy, Uses or importance to ...

Uses or importance to economy: 1.       Production: suitable production, functions are adopted to meet the market demand. In the absence of marketing research, production wil

Need for procedural formalities, NEED FOR PROCEDURAL FORMALITIES : Procedu...

NEED FOR PROCEDURAL FORMALITIES : Procedural formalities prescribed for claiming various export-incentives need timely and proper compliance on the part of exporters. This alone w

Objectives-export policy framework, OBJECTIVES After studying this unit...

OBJECTIVES After studying this unit, you should be able to: . 1.  explain the basic significance and objectives of India's Export-Import policy 2.  describe the rationale

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