Consumer decision making process
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By: Dr. Pankaj Chaudhari Assistant Professor, Ph. D., M. Com., MBA (Finance & HR), B. Ed., GDC&A Department of Commerce and Business Management
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Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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- 2. Before we begin.. Please note: Before buying products & services consumers usually follow a 5 step process. When directing your Sales and Marketing department it’s important to consider the steps customers go through this 5 step process. The worst thing you can do is just assume that if you have a something to sell that customers will be queuing up with their wallets in hand eagerly waiting to buy from you.
- 3. 1. Problem Recognition Problem recognition of an unfulfilled need: Here it is of importance for you to recognise and to communicate the gap between your customers present state and their preferred state.
- 4. 2. Information search Most people do not buy immediately when an product or service pops on their social media feed. Here is where your Branding and Content Marketing efforts comes into effect.
- 5. 3. Evaluation of alternatives Customers like to compare and contrast the best alternatives. This is where your Unique selling proposition (USP) and other unique differentiating factors of your product or service stands out and pays off.
- 6. 4. Purchase As the name implies this where the monetary exchange for equivalent perceived value takes place. Before arriving at this stage you have to make sure that the customer know, like and trust your organisation and your products/services. Avoid the temptation of an easy or quick sale for a high ticket product or service. Avoid selling to customers who have not shown initial investment.
- 7. 5. Post-purchase behaviour Customers will usually always evaluate your product and service quality, consciously or unconsciously. If your product or service has met their desired needs and wants then you can expect repeat business if not then it is back to the drawing board.