The Consumer Purchase Decision Process - 5 crucial steps

Sameer Mathur http://www.smathur.com The Consumer Purchase Decision Process - 5 crucial steps

Needs..

Consumer Purchase Decision Process

Needs..

Maslow’s Hierarchy of Needs

INTERNAL search scanning of one's memory to recall previous experiences or knowledge concerning solutions to the problem EXTERNAL search past experience or knowledge is insufficient risk of making a wrong purchase decision is high cost of gathering information is low Personal sources Public sources Marketer-dominated sources The evoked set Information Search

Involvement Matters..

Post Purchase Cognitive Dissonance ? Did I make a good decision? Did I buy the right product? Did I get a good value?

Sour Grapes– a story of cognitive dissonance … after being unable to reach the grapes the fox said, “these grapes are probably sour, and if I had them I would not eat them.” --Aesop

Readings P116, Consumer Purchase Decision Process P116, Problem Recognition P116, Information Search P117, Alternative Evaluations P117, Purchase Decision P118, Postpurchase Behaviour P118, Involvement and Problem-Solving Variations P120, Situational Influences

FREE TEACHING RESOURCES ON MARKETING MANAGEMENT at www.smathur.com/teaching.php Over 35,000 views by Management students and business professionals from over 74 different countries These presentations are part of Sameer Mathur's teaching portfolio. They are free to view or download for non-profit, academic use. Disclaimer: These teaching materials have been compiled from multiple, non-credited sources for non-profit, academic use. Copyright is retained by the original content creators. Sameer Mathur , Ph.D . Assistant Professor (Marketing) Web: www.smathur.com Email : [email_address] Twitter: @ProfessorMathur Facebook: Click Here

Sameer Mathur , Ph.D . Assistant Professor (Marketing) Web: www.smathur.com Email : [email_address] Twitter: @ProfessorMathur Facebook: Click Here RELATED SLIDES CLICK BELOW TO LEARN ABOUT: 1. Cigarette Advertising - Then and Now 2. New Product Development POPULAR SLIDES CLICK BELOW TO LEARN ABOUT: 1. Segmentation and Targeting 2. Positioning, Perceptual Maps

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The Consumer Purchase Decision Process - 5 crucial steps

by Sameer Mathur on Oct 03, 2010

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