We will discuss, Process of Consumer Buying.
There are 5 stages
Process of Consumer Buying
Following is the process of Consumer Buying
- Need Recognition
- Information Search
- Evaluation of alternatives
- Purchase Decision.
- Post Purchase Behavior
1. Need Recognition
Product is purchased to fulfill needs and wants. You must work out to find the needs. Active needs guides and directs the behavior of consumers. Hence, internal and external factors stimulate the needs. For example, Internal factors are hunger, thrust, etc. Similarly, external factors such as advertisements, window displays, etc. Hence, this stage identifies specific needs.
2. Information Search
Collecting information about the brand, quality, functions, features, price range, and other attributes of products available in the market. It is knowing details of product going to purchase. Hence, we can search for Information from internal ( Scanning of memory ) & external ( Online, media, radio, relatives, ) sources.
All available brands are compared by buyers to decide the best. Brands are compared based on brand image, function, features, price, budget, need, or purpose of buying, services, facilities, etc. Hence, this stage provides the consumer with a clear set of product and brand preferences.
4. Purchase decision:
On the basis of the evaluation results, the best brand is selected. Buyers buy the product. Hence, Purchase decisions can be affected by mode of payment, buying intention, situational factors, etc.
5. Post Purchase Behavior
It is related to the buyer’s level of satisfaction and interest to continue. Moreover, After use or consumption, buyers may be either satisfied or dissatisfied. Satisfied buyers show positive post-purchase behaviors but dissatisfied buyers show negative post behavior. Hence, it helps to redesign the marketing mix.
Hence, these are processes of Consumer buying.
Other Important Links:
Importance of Buyer Behavior: CLICK HERE
Meaning of Buyer Behavior Analysis: CLICK HERE
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