MKTG101
Applied Question 3
Choose a recent non-habitual purchase that you have made i.e a product or a service that you do not purchase very often. Discuss your purchase with reference to each of the 5 stages of the consumer decision making process. In your answer analyse the situational, group and individual factors that affected your decision-making process at each stage of the consumer decision making process.
The consumer decision-making process has 5 stages. All stages are believed to be present in affecting the behaviour or the decision making of consumers when it comes to purchasing a product or a service (buying decisions). However, it is important to note that buying decisions varies from one person to another.
The five stages in the consumer decision making process are:
a) Need/want recognition—this is the stage where a consumer becomes aware that there is a consumption need or want.
b) Information search—this stage is where a consumer goes and looks for information about a range of products. Getting more information reduces the perceived risk.
c) Evaluation of options—this stage is where a consumer has found different kinds of products that may sustain his needs. This is the part where the consumer evaluates his options, specifically which best product meets his needs.
d) Purchase—this refers to the actual purchase. In this stage, a consumer may decide if he should purchase the product or not.
e) Post-purchase evaluation—this stage refers to phase after the consumer made the purchase; is the consumer happy with his purchase; will he recommend the product to other people; will he attempt and buy another product from that company.
Situational factors that influence the consumers’ behaviour include the physical/actual location, social interaction, time available, purchase motivation, consumer mood and such. In other words, these are cues or circumstances that are present in that situation.
Group influences can be divided into two which are cultural
Choose a recent non-habitual purchase that you have made i.e a product or a service that you do not purchase very often. Discuss your purchase with reference to each of the 5 stages of the consumer decision making process. In your answer analyse the situational, group and individual factors that affected your decision-making process at each stage of the consumer decision making process.
The consumer decision-making process has 5 stages. All stages are believed to be present in affecting the behaviour or the decision making of consumers when it comes to purchasing a product or a service (buying decisions). However, it is important to note that buying decisions varies from one person to another.
The five stages in the consumer decision making process are:
a) Need/want recognition—this is the stage where a consumer becomes aware that there is a consumption need or want.
b) Information search—this stage is where a consumer goes and looks for information about a range of products. Getting more information reduces the perceived risk.
c) Evaluation of options—this stage is where a consumer has found different kinds of products that may sustain his needs. This is the part where the consumer evaluates his options, specifically which best product meets his needs.
d) Purchase—this refers to the actual purchase. In this stage, a consumer may decide if he should purchase the product or not.
e) Post-purchase evaluation—this stage refers to phase after the consumer made the purchase; is the consumer happy with his purchase; will he recommend the product to other people; will he attempt and buy another product from that company.
Situational factors that influence the consumers’ behaviour include the physical/actual location, social interaction, time available, purchase motivation, consumer mood and such. In other words, these are cues or circumstances that are present in that situation.
Group influences can be divided into two which are cultural