A detailed study of consumer behavior to understand market trends is essential for the growth of any organization that offers goods or services to consumers in the global market. While deciding about a particular product or service the consumer goes through several steps which involves identifying their own needs, gathering information about the product or service, and coming to a decision after evaluating the alternative options available to him. The economic, socio-cultural, and psychological factors have an impact on the behavior of the consumer.
The consumer decision-making process is a complex process that involves everything starting from recognizing the problem to the activities related to the product or service after it has been purchased by the consumer.
In this article, we are going to talk in detail about the 5 stages of the consumer decision-making process.
Different Stages Of The Consumer Decision-Making Process
The process of consumer decision making can be divided into 5 stages-
- Stage one defines the problem or the need of the consumer.
- Stage two is where the consumer is heading for research about the product or service offered to him. He collects information about the product or service by asking people who might have used it before.
- In the third stage, the consumer evaluates the available alternatives presented to him by other organizations before finalizing his choice.
- In the fourth stage the consumer heads for the purchase.
- In the final stage of decision making the consumer analyzes his decision concluding. This stage determines the level of satisfaction in the consumer which in-turn affects his decision on future purchases. To put it simply, It can be said that if a consumer is happy with a particular product or service offered by an organization than the organization is quite likely to get a loyal customer added to their list of positive customers.
It is important for students who study marketing to have a clear understanding of the concept of consumer decision making to understand market strategies.
They are given to do a lot of research and analysis to understand consumer behavior and its impact on the market during the tenure of the course. Assignment writer Canada has gained a lot of popularity by helping a lot of students to understand the concepts of consumer behavior and the process of consumer decision making.
1.The Need For The Customer
Mostly the need to decide a customer comes from the want to be satisfied. Therefore we can say that the recognition of the problem to the customer is the first stage of consumer decision making. A marketer analyzes the requirements of their target consumers and determines the perfect time for the launch of their products or services.
2. Searching For The Appropriate Product Or Service
After the consumer has identified his needs they go in for detailed research on the product or service that interests them. They usually use skills of risk management by creating a comparison diagram of the product or service in their minds. This elaborates on the advantages and disadvantages of the product or service they are heading to buy.
They tend to gather information about anything that interests them. Therefore we can say that the second stage of consumer decision making is searching for the appropriate product or service by getting into the details and gathering knowledge on the same. Students who take upmarket research also need to go through in-depth research through market surveys to understand the psyche of the customers that affect their decision-making process. They can seek help from online essay writer who assist them in the research and analysis of their assignments.
3. The Consumer Evaluates His Available Alternative Options
Consumers have a critical mindset when they are heading towards a particular decision. They do not usually jump at a decision the moment they find a suitable option. Except for some compulsive buyers who do not spend much time in evaluating their decision, most customers tend to weigh their options because they make a final decision. Therefore, it can be said that in the third stage of decision making they evaluate their alternatives before making a final choice.
4. Making The Decision And Head For The Purchase
Post analysis of all available options the consumer finally heads for the purchase in the fourth stage of the consumer decision-making process.
5.The Decision Taken Is Evaluated
The process does not end the moment consumers buy the product or service. The final stage of this process is where the consumer evaluates his decision measuring his degree of satisfaction. Therefore post-sales customer service is very important for marketers to build a loyal grid of customers for the growth of their organization. There are high chances that the customer will keep coming back to the marketer if he is satisfied with the product or service and also refers to the organization in their inner circles increasing their sales.
The five stages of consumer decision making can be defined in the following points.
- The consumer identifies his problem and the need to get to a solution.
- The consumers gather knowledge of the product or service through research.
- After the consumer finds a suitable option he evaluates the option found by weighing the alternatives in the third stage of the consumer decision-making process.
- Post evaluation of the customer’s heads for the purchase in the fourth stage.
- In the last stage, the customer analyses his decision on the purchase determining his degree of satisfaction. This is a very important stage and the marketers use post-sales customer service to influence the decision of the customers to ensure they develop loyal customers who would be sticking to their organization for a longer duration and also contribute towards the brand development.
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