Discuss the Consumers Buying Decision Process and Explain the Implications of Each Stage with Regard to Retailing Business
THE CONSUMER BUYING DECISION PROCESS.
The buying decision processes are the decision making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service.
The retailer is responsible for selling the goods in the market so he or she must have the knowledge of how the consumers actually make their buying decisions. For this he must study the consumer buying decision process or model. It involves five stages which are Need recognition, Information search, Evaluation of Alternatives, Purchasing and Post purchase Evaluation The model implies that consumers pass through all stages in every purchase. However, in more routine purchases, consumers often skip or reverse some of the stages.
For example, a Mucg student buying a favorite soobolo drink would recognize the need (hunger) and go right to the purchase decision, skipping information search and evaluation. However, the model is very useful when it comes to understanding any purchase that requires some thought and deliberation.
1. Need recognition
The buying process starts with need recognition. The retailer must recognize the needs of the consumer as well as how these needs can be satisfied. For example if a person is hungry then food is desired or if it is a matter of thirst than water is desirable At this stage, the buyer recognises a problem or need (e.g. I am hungry, i need a new calculator,) or responds to a marketing stimulus (e.g. you pass by Nkorsuor and you attracted by the aroma of their jollof rice and chicken).
An “aroused” consumer then needs to decide how much information (if any) is required. If the need is strong and there is a product or service that meets the need close to hand, then a purchase decision is likely to be made there and then. If not, then the process of information search begins.
At this stage the implications are that the retailer must ensure that it creates enough awareness about
The buying decision processes are the decision making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service.
The retailer is responsible for selling the goods in the market so he or she must have the knowledge of how the consumers actually make their buying decisions. For this he must study the consumer buying decision process or model. It involves five stages which are Need recognition, Information search, Evaluation of Alternatives, Purchasing and Post purchase Evaluation The model implies that consumers pass through all stages in every purchase. However, in more routine purchases, consumers often skip or reverse some of the stages.
For example, a Mucg student buying a favorite soobolo drink would recognize the need (hunger) and go right to the purchase decision, skipping information search and evaluation. However, the model is very useful when it comes to understanding any purchase that requires some thought and deliberation.
1. Need recognition
The buying process starts with need recognition. The retailer must recognize the needs of the consumer as well as how these needs can be satisfied. For example if a person is hungry then food is desired or if it is a matter of thirst than water is desirable At this stage, the buyer recognises a problem or need (e.g. I am hungry, i need a new calculator,) or responds to a marketing stimulus (e.g. you pass by Nkorsuor and you attracted by the aroma of their jollof rice and chicken).
An “aroused” consumer then needs to decide how much information (if any) is required. If the need is strong and there is a product or service that meets the need close to hand, then a purchase decision is likely to be made there and then. If not, then the process of information search begins.
At this stage the implications are that the retailer must ensure that it creates enough awareness about
References: Akwensivie, M. D. (2013). Consumer Behaviour Theories and concepts their managerial implications. Dansoman: Derisco Co Ltd. Jim Riley, (n.d). Buyer behaviour - The decision-making process. Retrieved 23 September, 2012, from www.tutor2u.net/business/marketing/buying_decision_process.asp