When it comes to understanding the
consumer buying market, you first need to understand why consumers make the
purchases they make, what factors influence the customers purchase and the
changing factors in society. The consumer buyers behavior is influenced by four
major factors; Cultural, social, personal, and psychological. These four
factors cause the consumer to develop a brand preference. Though, understanding
the impact marketers create is crucial, it still can’t directly control the
factors.
When
buying new products, the consumer subconsciously enters into a decision making
process, which consists of fives stages. Stage 1 is problem recognition. Stage
2 is information search. Stage 3 is the evaluation of alternatives. Stage 4 is
the purchase decision and finally, number 5 is post purchase behavior.
· Now, when it comes to business buying,
the decision process is a bit different, but is still a five step process. At
each stage the decision process is susceptible to change depending on the cost
and as well the strategic importance of the purchase. The process begins by
identifying the problem. It may be to restock inventory or to replace a
malfunctioning machine. The second step is to develop product specifications to
solve the problem. Buying center participants
assess problem and need to determine what is necessary to resolve it. Step 3 is
to search and evaluate possible products and suppliers. Step 4, select the
suppliers, and step 5 is to evaluate the product and supplier performance
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