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Decision Making
Consumer decision process leads to the embankment of marginal profits of any investment in a given market depending upon the level of awareness of a potential customer, brewing market trends and swirling expectations to meet certain demands. The phenomenon is also very important in hinging any level of comfort that a customer is seeking for and also in the rolling in of positive feedback. As a matter of fact, customers/consumers go through a spontaneous thought process to finally arrive at some narrowed down approach, making the choice worth taken, and at last taking it. There are numerous implications of consumer's behavior. Hence it's noticeably affirmative to a Marketer to identify the surging needs of the market and exercise the real repositioning with some level of satisfaction and criticality.
The Buying Decision Process- Five Stage Model
Considering the general etiquette of a customer in leading to any final decision of buying a product or service, the underlying thought process could speak for adequate addressing. A Five-stage model helps to determine the impulses that a customer experiences whilst going through...
The model is comprised of problem recognition, Information search, Evaluation of alternatives, purchase decision and post purchase behavior and other such recurring behaviors.
Problem Recognition
As Kotler & Keller (2009) think," The buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli; with an internal stimulus, one of the person's normal needs - hunger, thirst, sex- rises to a threshold level and becomes a driver; or a need can be aroused by an external stimulus." A Problem sources the need and the need culminates into the urge of buying. A Customer, as to meet a certain social status or sufficing any wants, would find it a conscious or subconscious devoir to look out for the ramifications, in a response to the stimuli of buying or using something.
Information Search
This second stage of the model entails a customer's spontaneous response to the feedback of the first stage. In this phase, a customer may look out for sifting information resources on internet and he or she may talk to…
Bibliography
Foxall, G.R. (2005). Understanding consumer choice. New York, NY: Palgrave Macmillan
Gilligan, C., & Wilson, R.M. (2003). Strategic Marketing Planning. Boston: Butterworth- Heinemann. Retrieved September 10, 2011, from Questia database: http://www.questia.com/PM.qst?a=o&d=116511350
Kotler, P., Keller, K.L., Koshy, A., Jha, M. (2009). Marketing management. In 13th (Ed.), Analyzing Consumer Markets (pp. 142-171). Dehli, India: Dorling Kindersley
Consumer Behavior Consider decision making Rational consumer behavior: What can organizations learn? The consumer decision-making process can be conceptualized as a rational, economic model or a subjective, psychological model. The first stage involves the recognition of a need, followed by a search for information, evaluation of alternatives, the purchase, and is concluded by the post-purchase evaluation (Buyer behavior, 2012, tutor2u). This process can be long and laborious or relatively short in duration, depending
Consumer Behavior - Analysis of Coca-Cola Consumer Behavior - Analysis of a Product or Service The objectives of this report are to discuss what consumer behavior is, why consumer behavior is vital, and how consumer behavior is influenced by the needs, goals, and motivations of the consumer. The purchase and use of a product by the Coca-Cola Company will provide support for this report. The consumer behavior of consumers of soft drinks
Marketers should therefore be aware of the delicate balance between price and perceived value. The purchase decision and actual purchase also have interesting dynamics than can be used by marketers. Product availability may for example cause a discrepancy between the purchase and purchase decision. The post-purchase evaluation is also an important stage, as this relates to consumer satisfaction or dissatisfaction and may once again lead to positive or negative word
Realizing that the sense of smell is extremely important in shaping perceptions about the quality of a good, techniques such as "scent-sory" branding have been developed to engage with shoppers on a sensory level and encourage emotional buying. Flavor trends are evolving as consumer demands become more complex) Other ways of implementing "emotional branding" is with what is known as 'sonic branding'. This process is designed to trigger an emotional response
Verizon Wireless Environmental Factors There are a number of environmental factors that go into the decision of not only what wireless provider a customer uses, but what type of plan they will buy. The major external factor is the technology at the heart of wireless. Rapid new product cycles are driving wireless sales, and they can also encourage consumers to buy for specific time frames. Further, the development of technology is such
Support for global phones Medium to High. Social events are pervasive during skiing season Medium to High; on Tours there is much planned out and taken care of; a chance to enjoy the sites and visit historic places High for shopaholics; boring for anyone who doesn't enjoy this type of activity Cost From $2,000 to over $10,000 per person Less than $100 for camping out in a tent to over $2,000 for a cabin rental From