Based on chapter " Analyzing consumer markets" from the book "A South Asian Perspective of Marketing Management."

1. How do consumers make purchasing decisions?

2. The buying process is a 5 stage model.

3. 1.Problem recognition
The buying process starts when a buyer recognizes a problem
triggered by internal or external stimuli.
Marketers need to identify the circumstance that trigger a particular need.

4. 2. Information search
Heightened attention Active information search
Information sources –
1.Personal
2.Commercial
3.Experiental

5. Search dynamics
Marketers need to identify the hierarchy of attributes
that guide consumer decision.
This is called MARKET PARTITIONING.

6. 3. Evaluation of

8. 4. Purchase decision.

9. Non compensatory models of consumer choice
1. Conjunctive heuristic - Consumer sets minimum acceptable level
and chooses the alternative that meets that.
2. Lexicographic heuristic – consumer chooses best brand
on the basis of its perceived most important attribute.
3. Elimination by aspect heuristic

12. Post purchase satisfaction –
If performance of a product falls short of expectation ,
consumers become DISAPPOINTED.
If it meets expectation, consumers are SATISFIED.
If it exceeds expectation , consumers are DELIGHTED.

13. Post purchase actions-
A satisfied consumer is most likely to buy the product again.
A dis-satisfied one rejects it and complaints about it.

14. Post purchase uses and disposal-
Marketers should monitor how consumers use and dispose of products.

15. Created by Yash Shah ,
Sardar Patel College of
Engineering,
During an internship
with
Prof. Sameer Mathur,
IIM Lucknow.
www.IIMInternship.com