Think about a recent purchase that you made. Did you start out with a problem or need? How did you determine what product you wanted to purchase? Did the product you purchased end up filling your needs?
To determine how to connect with a consumer audience, marketers need to understand the consumer’s behavior. It’s their goal to get inside the head of a consumer. What motivates the consumer to go out and make a purchase? Why might they choose a particular product over another? Why might a customer be satisfied with their purchase or why might they choose to return it? The consumer decision making process brings to light the need or desire for products. Many purchases are made without a second thought. Some, however, take much thought and investigation. The consumer decision making process consists of five steps:
Need recognition
Information search
Evaluations of alternatives
Purchase
Post-purchase behavior
Please review the video below to go in-depth on the 5 steps of the consumer decision-making process:
The Consumer Buying Process: How Consumers Make Product Purchase Decisions | Episode 50 (12:14)
The Consumer Buying Process: How Consumers Make Product Purchase Decisions (Links to an external site.)
The Consumer Buying Process: How Consumers Make Product Purchase Decisions
Consider how this information could be helpful to a new small business. What are some best practices they could use to influence their potential consumers to do business with them?
Factors that Influence Decision Making
There are several factors that impact and influence consumer decision-making. Consider your own buying behaviors. When you were growing up, did your personal values, teachers or other cultural factors impact what brands you chose to buy? What about social factors? Where you ever influenced by your parents or friends? Personal or individual factors that could influence decision-making include gender, age, family life cycle stage, personality, self-concept, and lifestyles. Consider these questions while you watch the video “Key Factors that Influence the Buying Decisions of Consumers.”
Sample Solution