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ITFT- Consumer buying process

Consumer behavior, consumer buying process, problem recognition, information search, evaluation of alternatives, purchase

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ITFT- Consumer buying process

  1. 1. Consumer Buying Process
  2. 2. Evaluation of Alternatives Purchase Decision Post-purchase Behavior 5 Stage Model of the Consumer Buying Process Need Recognition Information Search
  3. 3. 1. Need Recognition (Awareness Of Need) • The buying process starts when the buyer recognizes a problem or need. • The need can be triggered by internal ,external, marketing stimuli. • Ex.- person’s normal needs-hunger/ thrust –rises to threshold level and becomes a drive.
  4. 4. 2. Information Search • An aroused consumer will be inclined to search for more information • Internal search- memory. • External search- if he needs more information. • Friends and relatives (word of mouth); Marketer dominated sources; comparison shopping; public sources etc. Helps buyer find possible alternatives- i.e- the evoked set. Hungry- want to go out and eat, evoked set is  Chinese food  Indian food etc.
  5. 5. 3. Evaluation Of Alternatives • Competitor brand information • Consumer evaluation process 1. The consumer is trying to satisfy the needs. 2. The consumer is looking for certain benefits from the product solution. 3. The consumer sees each product as a bundle of attributes for delivering the benefits sought to satisfy these needs
  6. 6. Contd.. • Attributes of interests to buyer : Cameras : picture, sharpness, size ,price Hotels: Location ,cleanliness, atmosphere, price • If not satisfied with your choice then return to the search phase.
  7. 7. 4. Purchase Decision • In evaluation stage the consumer form preferences among the brands • In this phase-Choose buying alternative • includes product, package, store, method of purchase , Incentives offered, out of stock, budget etc.
  8. 8. Consumer
  9. 9. 5.Post-purchase Evaluation-outcome: •Satisfaction or Dissatisfaction. • Have you made the right decision? • This can be reduced by warranties, after sales communication etc. •Ex: After eating an Indian meal, may think that really you wanted a Chinese meal instead of Indian.
  10. 10. Adoption Of New Product Innovations • Stages in the adoption process: • Awareness, interest, evaluation, trial, and adoption • Influence of product characteristics on rate of adoption: • Relative advantage • Compatibility • Complexity • Divisibility • Communicability Figure 7.7
  11. 11. THANK YOU.