The Consumer Purchase Decision Process
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The Consumer Purchase Decision Process

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The Consumer Purchase Decision Process The Consumer Purchase Decision Process Presentation Transcript

  • CONSUMER PURCHASE DECISION PROCESS 5 CRUCIAL STEPS Problem Recognition Post Purchase Behavior Purchase Decision Prof. Sameer Mathur, Ph.D. Information Search Evaluation of Alternatives
  • Agenda The Consumer Purchase Decision Process
  • Sameer Mathur BuddingMarkets.com Indian Institute of Management, Lucknow Marketing Professor 2013 – Marketing Professor 2009 – 2013 Ph.D. and M.S. (Marketing) 2003 – 2009
  • How do Customers Buy? Research Suggest that Customers go through a 5 Stage Decision Making Process in any Purchase.
  • Consumer Purchase Decision Process Problem Recognition Post Purchase Behavior Purchase Decision Information Search Evaluation of Alternatives
  • Needs
  • Maslow’s Hierarchy of Needs
  • Consumer Purchase Decision Process Problem Recognition Post Purchase Behavior Purchase Decision Information Search Evaluation of Alternatives
  • Information Search 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
  • Cigarette Purchase Decisions Then Problem Recognition Post Purchase Behavior Purchase Decision Information Search Evaluation of Alternatives
  • Involvement Matters
  • Cigarette Purchase Decisions Then Problem Recognition Post Purchase Behavior Purchase Decision Information Search Evaluation of Alternatives
  • Influences on the Purchase Decision Process.
  • Cigarette Purchase Decisions Then Problem Recognition Post Purchase Behavior Purchase Decision Information Search Evaluation of Alternatives
  • 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
  • Consumer Purchase Decision Process Problem Recognition Post Purchase Behavior Purchase Decision Information Search Evaluation of Alternatives
  • Summary The Consumer Purchase Decision Process
  • Over 600,000 views from more than 100 countries http://www.BuddingMarkets.com/ Sameer Mathur BuddingMarkets .com http://www.facebook.com/BuddingMarkets/
  • Read this book “This book is the bible of Marketing” Prof. Sameer Mathur
  • Get These Slides Free Get These Slides Free Free to Download Sameer Mathur smathur.com