Buying Decision Process

Prashant Kumar Gupta
Prashant Kumar GuptaDoctoral research Scholar at IIT Delhi em IIT Delhi
BUYING DECISION
PROCESS
PROF PRASHANT KUMAR GUPTA
JAIN COLLEGE OF MBA AND MCA
FIVE STAGE MODEL
Problem Recognition
Information Search
Evaluation Of Alternatives
Purchase Decision
Post Purchase Decision
PROBLEM/NEED RECOGNITION
• Need can be triggered by internal or
external stimuli
• Internal stimulus like hunger and thirst
• External stimuli like someone
motivating you.

• Point of importance is to identify what
triggers the need
INFORMATION SEARCH
• Two levels for information search exist
1. Heightened attention where one becomes more
receptive to information.
2. Active information search

Point of importance is what are the major information
sources, which are of four categories:1. Personal : Friends, family , neighbour
2. Commercial: Advertising, salesman, packing
3. Public: Mass media, Consumer rating
organisations
4. Experimental: Handling & Examining the product
Total Set
IBM

Apple

Dell

HP

Toshiba

Compaq

Awareness Set
IBM

Apple

Dell

HP

Consideration Set
IBM

Dell

Apple

Choice Set
IBM

Dell
Decision

?
EVALUATION OF ALTERNATIVES

• The most recent model says that the judgements
are taken consciously and rationally which is
termed as cognitively oriented.
• Ask questions?
1. Do you want to satisfy a need
2. Are you looking for some benefit
3. What are the attributes that are being looked for?
**Beliefs and attitudes affects this process.
PURCHASE DECISION
• Sub-decisions have to be taken about:1. Brand
2. Dealer
3. Quantity
4. Timing
5. Payment Method
Timing and steps in the process depends upon the
product that needs to be purchased.
POST-PURCHASE BEHAVIOUR

• Marketer must observe:1. Post-purchase satisfaction
2. Post-purchase actions
3. Post-purchase product uses
POST-PURCHASE BEHAVIOUR
:SATISFACTION
• Performance less than expectation results into
dissatisfaction.
• Performance as per the expectation leaves a
satisfied customer.
• Performance better than expected leads to a
delighted consumer.

Point of importance is that it will affect his future
decision making process.
POST-PURCHASE BEHAVIOUR

:ACTIONS

• Satisfaction or dissatisfaction may influence a
consumer’s subsequent behaviour.

• If its favourable it may lead to a repeat purchase.
• If dissatisfied the consumer may stop buying the
product (Exit Option) or warn people around (Voice
Option)
POST-PURCHASE BEHAVIOUR
:USE AND DISPOSAL

• Its important to calculate the consumption rate, i.e.
frequency of purchase.
• Profits come from sales and key driver of sales is
consumption rate.
ASSIGNMENT
• Find the types of risk that a consumer takes while
making a purchase decision,.
• Find the intervening factors in a purchase decision.
1 de 12

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Buying Decision Process

  • 1. BUYING DECISION PROCESS PROF PRASHANT KUMAR GUPTA JAIN COLLEGE OF MBA AND MCA
  • 2. FIVE STAGE MODEL Problem Recognition Information Search Evaluation Of Alternatives Purchase Decision Post Purchase Decision
  • 3. PROBLEM/NEED RECOGNITION • Need can be triggered by internal or external stimuli • Internal stimulus like hunger and thirst • External stimuli like someone motivating you. • Point of importance is to identify what triggers the need
  • 4. INFORMATION SEARCH • Two levels for information search exist 1. Heightened attention where one becomes more receptive to information. 2. Active information search Point of importance is what are the major information sources, which are of four categories:1. Personal : Friends, family , neighbour 2. Commercial: Advertising, salesman, packing 3. Public: Mass media, Consumer rating organisations 4. Experimental: Handling & Examining the product
  • 6. EVALUATION OF ALTERNATIVES • The most recent model says that the judgements are taken consciously and rationally which is termed as cognitively oriented. • Ask questions? 1. Do you want to satisfy a need 2. Are you looking for some benefit 3. What are the attributes that are being looked for? **Beliefs and attitudes affects this process.
  • 7. PURCHASE DECISION • Sub-decisions have to be taken about:1. Brand 2. Dealer 3. Quantity 4. Timing 5. Payment Method Timing and steps in the process depends upon the product that needs to be purchased.
  • 8. POST-PURCHASE BEHAVIOUR • Marketer must observe:1. Post-purchase satisfaction 2. Post-purchase actions 3. Post-purchase product uses
  • 9. POST-PURCHASE BEHAVIOUR :SATISFACTION • Performance less than expectation results into dissatisfaction. • Performance as per the expectation leaves a satisfied customer. • Performance better than expected leads to a delighted consumer. Point of importance is that it will affect his future decision making process.
  • 10. POST-PURCHASE BEHAVIOUR :ACTIONS • Satisfaction or dissatisfaction may influence a consumer’s subsequent behaviour. • If its favourable it may lead to a repeat purchase. • If dissatisfied the consumer may stop buying the product (Exit Option) or warn people around (Voice Option)
  • 11. POST-PURCHASE BEHAVIOUR :USE AND DISPOSAL • Its important to calculate the consumption rate, i.e. frequency of purchase. • Profits come from sales and key driver of sales is consumption rate.
  • 12. ASSIGNMENT • Find the types of risk that a consumer takes while making a purchase decision,. • Find the intervening factors in a purchase decision.