The Buying-Decision Process

The buying decision process * Technical process that a consumer undergoes in deciding the purchase of any product or service. The process includes need recognition, information search, and evaluation of alternatives, purchase decision and post-purchase decision. It occurs within an individual whenever he makes a purchase decision. The length of time of this process varies for each individual. Some make a decision in a split of a second as in a neural network. Others take some time
>SYNTHESIZE INFORMATION
>ESTABLISH DECISION CRITERIA
>DETERMINE THE TYPE OF ALTERNATIVES
>COMPARE ALTERNATIVES
>SYNTHESIZE INFORMATION
>ESTABLISH DECISION CRITERIA
>DETERMINE THE TYPE OF ALTERNATIVES
>COMPARE ALTERNATIVES
>EXPERIENCE
>AVAILABILITY OF INFORMATION
>SATISFACTION DERIVED
>PERCEIVED CONSEQUENCES
>PRODUCT VALUE
>EXPERIENCE
>AVAILABILITY OF INFORMATION
>SATISFACTION DERIVED
>PERCEIVED CONSEQUENCES
>PRODUCT VALUE
POST-PURCHASE DECISION
POST-PURCHASE DECISION
PURCHASE DECISION
PURCHASE DECISION
EVALUATION OF ALTERNATIVES
EVALUATION OF ALTERNATIVES
INFORMATION SEARCH
INFORMATION SEARCH
NEED RECOGNITION
NEED RECOGNITION

TYPES OF BUYING DECISION BEHAVIOR 3 CHARACTERISTICS OF AN ITEM TO BE PURCHASED * EXPENSIVE * CAN HAVE SERIOUS SOCIAL CONSEQUENCES * CAN REFLECT ON ONE’S SOCIAL IMAGE 2 VARIABLES * CONSUMER INVOLVEMENT * PRODUCT KNOWLEDGE 3 GENERAL VARIATIONS IN THE CONSUMER’S PURCHASE PROCESS * ROUTINE PROBLEM SOLVING * LIMITED PROBLEM-SOLVING * EXTENDED PROBLEM-SOLVING STRATEGIES TO FOCUS ON CONSUMER BUYING BEHAVIOR * Companies should take into consideration the consumer’s behaviour toward new products * They should adopt an effective research approach using surveys, experiments, observations, samplings and case studies when applicable or necessary * Proper interpretations and reporting of findings must be performed by the