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Yes,
Buying Behavior is the decision processes and acts of people involved in buying and using products. It involves
why consumers make the purchases that they make?
what factors influence consumer purchases?
the changing factors in our society
Yes.
Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all6 stages, determined by the degree of complexity....
The six stages are:
A successful information search leaves a buyer with possible alternatives, the evoked set.
Hungry, want to go out and eat, evoked set is
sure
Yes, agree sir
Thanks Vinod!
The Customer Buying Process ,also called a Buying Decision Process, describes the process your customer goes through before they buy your product.
John Dewey first introduced the following five stages in1910:
1. Problem/Need Recognition This is often identified as the first and most important step in the Customer’s Decision Process. A purchase cannot take place without the recognition of the need. The need may have been triggered by internal stimuli (such as hunger or thirst) or external stimuli (such as advertising or word of mouth).
2. Information Search Having recognised a problem or need, the next step a customer may take is the Information Search stage, in order to find out what they feel is the best solution. This is the buyer’s effort to search internal and external business environments, in order to identify and evaluate information sources related to the central buying decision. Your customer may rely on print, visual, online media or word of mouth for obtaining information.
3. Evaluation of Alternatives As you might expect, consumers will evaluate different products or brands at this stage on the basis of alternative product attributes – those which have the ability to deliver the benefits the customer is seeking. A factor that heavily influences this stage is the customer’s attitude. Involvement is another factor that influences the evaluation process. For example, if the customer’s attitude is positive and involvement is high, then they will evaluate a number of companies or brands; but if it is low, only one company or brand will be evaluated.
4. Purchase Decision The penultimate stage is where the purchase takes place. Philip Kotler (2009) states that the final purchase decision may be ‘disrupted’ by two factors: negative feedback from other customers and the level of motivation to accept the feedback. For example, having gone through the previous three stages, a customer chooses to buy a new telescope. However, because his very good friend, a keen astronomer, gives him negative feedback, he will then be bound to change his preference. Furthermore, the decision may be disrupted due to unforeseen situations such as a sudden job loss or relocation.
5. Post-Purchase Behaviour In brief, customers will compare products with their previous expectations and will be either satisfied or dissatisfied. Therefore, these stages are critical in retaining customers. This can greatly affect the decision process for similar purchases from the same company in the future, having a knock-on effect at the Information Search stage and Evaluation of Alternatives stage. If your customer is satisfied, this will result in brand loyalty, and the Information Search and Evaluation of Alternative stages will often be fast-tracked or skipped altogether.
Yes that is absolutely right. Need recognition, information search, evaluation of alternatives, purchase decision and post purchase decision all lie or fall in this category of assessement.
The statement is correct.
Personal decisions and reactions of the customer before during and after are the points at which our real prospects actually taking new shapes.
Yes. absolutely.