Purchasing decisions

Consumer making purchasing decision

ProblemRecognition

Problem Recognition

Buyer recognizes a problem or need, triggered by internal or external stimuli

Internal stimuli External stimuli

Information Search

By gathering information, the consumer learns about competing brands and their features

Evaluation of alternativesSatisfy a need Each product abilities for delivering the benefits

Purchasing Decision

Risks of avoiding purchaseFunctional risk—The product does not perform to expectations. Physical risk—The product poses a threat to the physical well-being or health of the useror others. Financial risk—The product is not worth the price paid. Social risk—The product results in embarrassment in front of others. Psychological risk—The product affects the mental well-being of the user.Time risk—The failure of the product results in an opportunity cost of finding another satisfactoryproduct.

Post purchase Behaviour

Post purchase satisfaction Makes a difference in whether consumer buys the product again and recommends it to other Post purchase use and disposal Key driver of sales frequency. Product consumption rate Post purchase action

Thank you

Created by Anuj Maingi, IIT (BHU), Varanasiduring an internship

by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com