How do consumers make purchasing decisions

CONSUMER DECISION MAKING

FIVE STAGE MODEL

NEED AWARENE

SS

INFORMATION

SEARCH

EVALUATING

ALTERNATIVES

PURCHASE DECISION

POST PURCHASEBEHAVIOU

R

PROBLEM RECOGNITION

NEED TRIGGERED BY STIMULI: EXTERNAL OR INTERNAL

INFORMATION SEARCH

Two modes: heightened attention and active search

HEIGHTENED ATTENTION

PERSON BECOMES MORE RECEPTIVE

ACTIVE

SEARCH

CONSUMER DELIBERATELY SEARCHES FOR INFORMATION, ONLINE, IN A STORE, FROM FRIENDS

INFORMATION SOURCES

PERSONAL COMMERCIAL PUBLIC EXPERIENTIAL

CONSUMERS GAIN

INFORMATION TO LEARN

ABOUT COMPETING

BRANDS

EVALUATION OF ALTERNATIVES

EXPECTANCY VALUE MODEL

THIS MODEL STATES THAT CONSUMERS EVALUATE PRODUCTS AND SERVICES BY COMBINING THEIR BRAND BELIEFS- POSITIVES AND

NEGATIVES ACCORDING TO IMPORTANCE.

INTERVENING FACTORS

FACTORS WHICH AFFECT OUR OPINIONS ABOUT THE BRAND

ATTITUDE OF OTHERS

OUR PERCEPTION CHANGE DEPENDS ON:• HOW NEGATIVE IS THE RESPONSE OF THE OTHER PERSON• HOW CLOSE THE OTHER PERSON IS TO US.

UNINTERRUPTED SITUATIONAL FACTORS

LOSING A JOBACCIDENT

BAD EXPERIENCE IN THE STORE

PURCHASE DECISIONCONSUMER FORMS PREFERENCE LIST OF BRANDS

HEURISTICS

CONJUNCTIVESETS A MINIMUM CRITERIA

FOR ATTRIBUTES.CHOOSE THE FIRST PRODUCT THAT MEETS

ALL

LEXICOGRAPHICCHOOSES THE BEST

BRAND BASED ON MOST IMPORTANT PERCIEVED

ATTRIBUTE.

ELIMINATION BY ASPECTSBRANDS COMPARED ON THE BASIS OF RANDOM

ATTRIBUTE.

POST PURCHASE BEHAVIOUR

ACTIONPOSITIVE WORD OF

MOUTH

NEGATIVE WORD OF MOUTH

FEELINGSATISFIED

DELIGHTEDDISSAPOINTED

DISCLAIMER

Created by Abhigyan Singh, NIT Allahabad, during an internship by Prof. Sameer Mathur, IIM Lucknow.