Answer to Question #254268 in Marketing for Jojo

Question

With the use of diagrams list and outline the steps in the consumer and business buying decision making processes.

Answer 1

The Consumer Decision-Making Process in Stages

Identifying the need is the first step in the customer decision-making process. The most significant factor that leads to the purchase of a product or service is the necessity. All purchasing decisions are triggered by a need. The first step in analyzing the Consumer Decision Making Process is to figure out what the customer wants. Many marketing decisions are aided by determining the target market's needs and desires.

After determining his wants, the potential customer moves on to the second stage, which involves searching for and acquiring information. Humans are cautious when it comes to deciding between options, so they need all the information they can get before investing their money. The customer assesses all of the positive and negative aspects of the purchase during this step of the Consumer Decision Making Process. Consumers are significantly more knowledgeable and capable of making better purchase judgments as a result of altering trends and online shopping sites.

Once a consumer has identified a need and a source to meet that need, he begins looking for the greatest offers or solutions available. At this point, the consumer weighs numerous possibilities based on product pricing, quality, quantity, and value-added features, as well as other essential criteria. Customer reviews and price comparisons for other products are conducted before selecting the product that best meets the customer's needs. The third stage of the Consumer Decision Making Process is a thorough examination of all available alternatives/substitute products on the market. After recognizing his need and gathering valuable information, the consumer chooses the best product accessible in the market depending on his taste, style, income, or choice.

After going through all of the previous stages, the consumer decides what to buy and where to buy it. After a thorough examination of all the information, the buyer makes a rational decision to purchase a product that meets his needs and desires. Advertising and marketing initiatives, as well as suggestions from personal connections, are frequently used to elicit needs and desires.

The customer examines or analyses the purchased product, its usefulness, the satisfaction supplied by the product, and the product's value in relation to the consumer's need fulfillment at the last step of the consumer decision-making process. If the consumer believes that the goods, they purchased provided value and matched their expectations, they will become loyal customers. Making Consumer Decisions For marketers to properly sell their products and product lines, process is critical. Understanding the target market in depth improves the efficiency of a marketing plan and results in better Promotional Plan results.