The document outlines the 5 stages of the consumer decision process: need recognition, search for information, evaluation of alternatives, purchase decision, and post-purchase evaluation. It also discusses the types of search consumers conduct, the actual or perceived risks involved in purchases, the 5 types of risk, and how Maslow's hierarchy of needs can affect the consumer decision process.

1. Consumer
Behavior

2. Decision
Process

3. 5 Stages
• Need Recognition- Occurs when consumers recognize they have an unsatisfied need and
they would like to go from their usual state to a more needy state.
• Search for recognition- To search the various options to satisfy to need
• Evaluation of alternatives- Customer now evaluates all products and brands that may
satisfy their need.
• Purchase decision- The act of actually making the purchase.
• Post Purchase evaluation- After the purchase is made, the consumer decides If he or she
made the right decision.

4. Types of Search for Information
• Internal – The buyer examines his or her own memory and knowledge
about the product or service based on their past experiences.
• External- Buyer seeks information outside his or her personal
knowledge base to help make the buying decision.

5. Actual or Perceived Risk

6. 5 Types of Risk
• Performance- Involved perceived danger inherent in a poorly
performing product or service.
• Financial- Includes initial cost of the purchase as well as the costs of
using the product or service.
• Social- Fears that consumers suffer when they worry others might not
regard their purchases positively.
• Physiological (safety)- If product does not perform properly and fear
of actual harm from the product is present.
• Psychological- The way people will feel if the product or service does
not convey the right image.

7. Factors
That May
Affect
Decision
Process

8. Maslow’s Hierarchy of
Needs

9. • Self Actualization- Desire to become the most that one can be,
• Esteem- Respect, self-esteem, status, recognition, strength, freedom
• Love and Belonging- Friendship, intimacy, family, sense of connection
• Safety Needs- Personal security, employment, resources, health,
property
• Physiological Needs- Air, water, food, shelter, sleep,
clothing,reproduction