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Consumer Decision Making Process
- 2. What is the Consumer Decision Making Process? This process describes the steps that consumers go through before, during, and after they have made a purchase
- 3. What are the Steps? Need Recognition Information Search Alternative Evaluation Purchase and Consumption Post-Purchase
- 4. Need Recognition Consumer Decision Process begins when a consumer has an unsatisfied need The consumer would like to transition from needy state to desired state This Consumer may Desire New Shoes
- 5. Information Search After a need is recognized, a consumer will search for information to satisfy the recognized need Search may be internal or external •Buyer uses own memory/ knowledge about a product/service Internal •Buyer seeks information elsewhere •Examples include consumer reports, the internet, and friends/family External
- 6. Alternative Evaluation After information has been gathered, consumers will compare different choices Different choices may come from sets Sets include universal set, retrieval set, and evoked set
- 7. Purchase and Consumption After evaluating alternatives, customers are ready to spend their money Customers may purchase their product/service from their original store/brand of choice Alternatively, customers may look elsewhere such as online or another retailer Retailers use the conversion rate to measure how good they have done at converting decisions into purchases
- 8. Post- Purchase The final step in the Consumer Decision Making Process Customers may be satisfied or even become loyal repeat customers Customers may experience post purchase cognitive dissonance leading them to buyer’s remorse
- 9. Factors Affecting Consumer Decision Process Consumer Decision Process Social Factors Situational Factors Marketing Mix Psycholo gical Factors
- 10. Social Factors Situational Factors Family Reference Groups Culture Purchase Situation Sensory Situation Temporal State
- 11. Marketing Mix Psychological Factors Product Price Place Promotion Motives Attitudes Perceptions Learning/memory Lifestyle
- 12. Image URL’s Bibliography https://www.123rf.com/photo_85 534358_consumers-at- marketplace.html https://stock.adobe.com/search?k =old+shoe https://bettermarketing.pub/why -consumer-preferences-dont- predict-consumer-behavior- e905834bc0ce https://blog.shift4shop.com/prev ent-buyers-remorse Grewal, Dhruv, and Michael Levy. Marketing. Eighth ed., McGraw Hill, 2022.