Buying behavior model
- 2. DEFINITION • Buyer behavior refers to the decision and acts people undertake to buy products or services for individual or group use. It’s synonymous with the term “consumer buying behavior,” which often applies to individual customers in contrast to businesses.
- 3. Need Recognition Information Search Evaluation of Alternative Purchase Decision Post Purchase Behavior
- 4. A) NEED RECOGNITION • The buying process starts with need recognition. The first stage of the buyer decision • process in which the consumer recognizes a problem or need. The buying process starts • when the buyer recognizes a problem or need triggered by internal or external stimuli.
- 5. INFORMATION SEARCH • The consumer may store the need in memory or undertake an information search related • to the need. For example, once you’ve decided you need a new car, at the least, you will • probably pay more attention to car ads, cars owned by friends, and car conversations. Or • you may actively search the Web, talk with friends, and gather information in other ways.
- 6. EVALUATION OF ALTERNATIVES • How does the consumer choose among alternative brands? Marketers need to know • about alternative evaluation, that is, how the consumer processes information to arrive at • brand choices. Consumers do not use a simple and single evaluation process in all buying • situations. Instead, several evaluation processes are at work.
- 7. PURCHASE DECISION • the evaluation stage, the consumer forms preferences among the brands in the choice • set and may also form an intention to buy the most preferred brand. In executing a purchase • intention, the consumer may make up to five sub decisions: brand (brand A), dealer (dealer • 2), quantity (one computer), timing (weekend), and payment method (credit card).
- 8. POST PURCHASE BEHAVIOUR • After purchasing the product, the consumer will be satisfied or dissatisfied and will • engage in post purchase behaviourof interest to the marketer. What determineswhether • the buyer is satisfied or dissatisfied with a purchase? The answer lies in the relationship • between the consumer's expectationsand the product's perceived performance. • ✓ If the product falls short of expectations, the consumer is disappointed; • ✓ If it meets expectations, the consumer is satisfied; • ✓ If it exceeds expectations, the consumer is delighted.