Analysis of Consumer Decision Making Process
Introduction
Consumer decision making process is a list of steps that are carried out by consumers concerning to a potential market transaction, before, during and after the purchase of a product or service. The process includes identifying the problem, collecting information, evaluating the alternatives, making the purchase decision and evaluating post purchase.
Generally, decision making is the cognitive process of selecting a course of action from among multiple options.
As a consumer, I find that the consumer decision making process is a great help in choosing for the right product which gives a consumer the greatest satisfaction. One of the latest scenarios where I applied this process into my product purchases was buying a beautiful, yet not too costly wedding gown, as I am getting married in the coming month.
I went through five stages of the consumer decision making process in buying the perfect wedding gown as follows:-
Problem recognition
Information search
Evaluation of alternatives
Purchase / Decision making
Post-purchase evaluation
Problem recognition Problem recognition is the stage where the consumer is aware of a need or want. It occurs when the consumer realize a significant difference between his or her actual state and desire state. My problem in this situation at this stage, is having to own a new wedding gown, because I am walking down the isle with my fiancé next month. This desire of something new leads to the triggering of the decision process. In addition to my problem, I do not have a very well-funded family, so I cannot afford expensive, luxurious designer’s wedding gown.
Information search When a consumer discovers a problem or a need, he or she is likely to search for more information on how to solve it. The information search stage involves gathering information from various sources in order to make a better-informed decision, it helps clarifies the options open to the consumer which may involve internal search and
Consumer decision making process is a list of steps that are carried out by consumers concerning to a potential market transaction, before, during and after the purchase of a product or service. The process includes identifying the problem, collecting information, evaluating the alternatives, making the purchase decision and evaluating post purchase.
Generally, decision making is the cognitive process of selecting a course of action from among multiple options.
As a consumer, I find that the consumer decision making process is a great help in choosing for the right product which gives a consumer the greatest satisfaction. One of the latest scenarios where I applied this process into my product purchases was buying a beautiful, yet not too costly wedding gown, as I am getting married in the coming month.
I went through five stages of the consumer decision making process in buying the perfect wedding gown as follows:-
Problem recognition
Information search
Evaluation of alternatives
Purchase / Decision making
Post-purchase evaluation
Problem recognition Problem recognition is the stage where the consumer is aware of a need or want. It occurs when the consumer realize a significant difference between his or her actual state and desire state. My problem in this situation at this stage, is having to own a new wedding gown, because I am walking down the isle with my fiancé next month. This desire of something new leads to the triggering of the decision process. In addition to my problem, I do not have a very well-funded family, so I cannot afford expensive, luxurious designer’s wedding gown.
Information search When a consumer discovers a problem or a need, he or she is likely to search for more information on how to solve it. The information search stage involves gathering information from various sources in order to make a better-informed decision, it helps clarifies the options open to the consumer which may involve internal search and
References: Books * Hawkins, Del I, R J Best, and K A Coney 1983, Consumer Behavior: Implications for Marketing Strategy, Business Publications Inc, Texas. * Solomon, M R 2009, Consumer Behavior: Buying, Having and Being. 8th ed. Prentice Hall, Upper Saddle River. Websites * Anon. 2010, Buyer behavior - decision-making process. <http://www.tutor2u.net/business/marketing/buying_decision_process.asp> Last accessed 26th August 2010. * Perner, L 1999-2010, Information Search and Decision Making. <http://www.consumerpsychologist.com/cb_Decision_Making.html.> Last accessed 28th August 2010. * V.E.W. 2003-2010, Vera Wang 's bridal collection. <http://www.verawang.com/wedding/bridal-collections/> Last accessed 27th August 2010.