Buying Decision Process

The buying decision process depends on problem or need, recognition, evaluation, analyzing information, purchasing behavior, purchase decisions, and selecting alternatives. There are five sequence stages identify customer would get while taking decisions on the process of buying.

1. Problem/Need Recognition

How do you decide you want to buy a particular product or service? It could be that your DVD player stops working and you now have to look for a new one, all those DVD films you purchased you can no longer play! So you have a problem or a new need. For high-value items like a DVD player or a car or other low frequency purchased products, this is the process we would take. However, for impulse low-frequency purchases e.g. confectionery the process is different.

2. Information Search

So we have a problem, our DVD player no longer works and we need to buy a new one. What's the solution? Yes go out and purchase a new one, but which brand? Shall we buy the same brand as the one that blew up? Or stay clear of that? Consumers often go on some form of information search to help them through their purchase decision. Sources of information could be family, friends, neighbors who may have the product you have in mind, alternatively, you may ask the salespeople or dealers, or read specialist magazines like What DVD? to help with their purchase decision. You may even actually examine the product before you decide to purchase it.

3. Evaluation of Different Purchase Options.

So what DVD player do we purchase? Shall it be Sony, Toshiba, or Bush? Consumers allocate attribute factors to certain products, almost like a point scoring system which they work out in their mind over which brand to purchase. This means that consumers know what features from the rivals will benefit them and they attach different degrees of importance to each attribute. For example sound maybe better on the Sony product and picture on the Toshiba, but picture clarity is more important to you than sound. Consumers usually have some sort of brand preference with companies as they may have had a good history with a particular brand or their friends may have had a reliable history with one, but if the decision falls between the Sony DVD or Toshiba then which one shall it be? It could be that the review the consumer reads on the particular Toshiba product may have tipped the balance and that they will purchase that brand.

4. Purchase Decision

Through the evaluation process discussed above consumers will reach their final purchase decision and they reach the final process of going through the purchase action e.g. The process of going to the shop to buy the product, which for some consumers can be as just as rewarding as actually purchasing the product. Purchase of the product can either be through the store, the web, or over the phone.

5. Post Purchase Behavior

Ever have doubts about the product after you purchased it? This simply is post-purchase behavior and research shows that it is a common trait amongst purchasers of products. Manufacturers of products clearly want recent consumers to feel proud of their purchase, it is therefore just as important for manufacturers to advertise for the sake of their recent purchaser so consumers feel comfortable that they own a product from a strong and reputable organization. These limits post-purchase behavior. i.e. You feel reassured that you own the latest advertised product.