Consumer Decision Process Flashcards, test questions and answers

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What is Consumer Decision Process?

The consumer decision process is an important concept in marketing and involves a series of steps that consumers go through when making a purchase. It includes various aspects such as recognition of need, information search, alternative evaluation, purchase decision and post-purchase behaviour. When marketers understand the steps involved in the consumer decision process they can develop better strategies to reach their target audience and influence them to make purchases. The first step of the consumer decision process is recognizing a need or want for something. This could be based on external factors like advertising, word-of-mouth or past experiences with similar products/services. Consumers may also experience internal cues such as feelings of satisfaction or dissatisfaction towards existing solutions which may lead them to seek out new alternatives. Once a need has been identified, the next step is gathering information about potential solutions available in the market. This could involve conducting research online, consulting peers and experts for advice or visiting physical stores for comparison shopping. Following this comes alternative evaluation where consumers will evaluate different options before deciding on one particular product/service that best meets their needs at an optimal price point. They might compare features between competing brands and take into account certain criteria such as quality, price range etc., while weighing up pros and cons before making a final choice. The fourth stage is purchase decision where consumers commit to buying a particular item after assessing all the relevant factors associated with it including value for money proposition offered by it compared to its competitors’. Finally there’s post-purchase behaviour where buyers reflect on their purchasing decisions – if they feel satisfied with what they bought then they are likely to become loyal customers whereas if not then chances are high that they won’t repurchase from same seller again nor recommend it others either. Understanding how people make decisions helps marketers guide potential buyers through each step in order convert prospects into paying customers more accurately and effectively than ever before.