Consumer Buying Behavior

There are certain consumer goods that call for impulse purchase. In such cases typically, they do not spend much time getting to know deep about the product. For high esteem goods or services consumers dig out information and their mind starts processing information in certain ways. This procedure is examined underneath:

Buyer Purchasing Process

1)      Problem or Need Recognition: How would you choose which specific product or service to buy? Let’s assume your TV has a snag and it has stopped working and you now need to look for another one. This is the initial phase in the customer purchasing process. So, there is a clear cut need for a particular product, in this case it’s a TV.

2)      Information Search: So we have an issue, our Television does not work anymore and we have to purchase another one. What is the solution? Go out and buy another one, but which brand? One starts thinking whether to go with the same brand and specifications or look for something new. Customers frequently go on a data pursuit to help them pick their item. Consumers often go on an information search to help them choose their product. Sources of information include family, friends and retail staff. Also the social media platforms like Facebook, E-commerce websites and Google contains information about products (specifications), product reviews and online product forums. Information search may involve a visit to a retail store to view products that the consumer is interested in purchasing. In our example the consumer is on an information search to solve an immediate problem; they intend to make a purchase at the end of the process. Consumers also acquire and store information for future purchases. Firms will take such consumers into account when designing their marketing strategies, in the hope that when such a consumer is ready to buy they will use the "stored" information about their product into account and buy their products.

3)      Evaluation of Option: So what Television do we purchase? Will it be a Sony, Toshiba or Samsung Television? Consumers often create a point system in their minds where products are scored based on how many of their features appeal to them. So for one customer, brand may be more important than price and for another customer product appearance may be important. In the case of a Television consumers may be reviewing sound and picture quality. An evaluation system is particularly useful when there are a large number of options. Marketing strategies will try and influence this stage of the process by highlighting product features that they think will appeal to consumers. Appealing product features will be emphasized on product packaging, promotional materials and the manufacturer's websites.

4)      Purchase Decision: After the evaluation process consumers will select the product they would like to purchase. Once product may be a clear winner or the consumer may have to re- priorities their criteria to help them select a product. The job of the seller is to ensure that the purchase process is simple and effective. Even at this stage the purchaser could change their mind and select a competitor product or cancel the purchase altogether. A long queue, impolite sales staff or complicated sales process can all dissuade consumers from buying. Even if a consumer buys on this occasion a negative buying experience could stop them buying in the future. Therefore sellers need to make the buying process as simple and enjoyable as possible to safeguard this and future purchases.

5)      Post Purchase Behavior: Ever have doubts about the product after you purchased it? Research shows that this feeling is common post purchase behavior. Manufacturers of products clearly want purchasers to feel proud of their purchase, so that they will purchase from them again and recommend them to family and friends. It is therefore just as important for manufacturer's promotions to reassure purchasers, as it is for them to attract new customers. Promotions should make purchasers feel that they have bought their product from a strong and reputable organization with "good" products.