Post on 13-Aug-2015
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1. PROBLEM
RECOGNITION
2. INFORMATION
SEARCH
3. EVALUATION OF ALTERNATIVES
4. PURCHASE DECISION
5. POSTPURCHASE
BEHAVIOUR
FIVE-STAGE MODEL OF
CONSUMER BUYING
PROBLEM RECOGNITION
Buying process starts when needs are
triggered by INTERNAL
OREXTERNAL STIMULI.
1.
OMG! MY FRIEND HAS GOT SUCH A NICE PAIR OF SHOES.!
EXTERNAL STIMULI WHEN WE ADMIRE SOMETHING OR SEE AN ATTRACTIVE ADVERTISEMENT.
SEARCH DYNAMICSBy gathering information, the consumer learns about competing brands
1. TOTAL SET BRANDS
AVAILABLE IN THE MARKET
2. AWARENESS SET
5. DECISION
3. CONSIDERATION SET
4. CHOICE SET
BRANDS ABOUT
INDIVIDUAL COMETO KNOW
BRANDS THAT FULFILL ONES BUYING CRITERIA
BRANDS THAT CONSUMERS CHOOSE BY GATHERING MORE
INFORMATION
BRAND THAT CONSUMER FINALLY DECIDES?
NIKE,PUMA
NIKE,ADIDAS,PUMA
NIKE,ADIDAS,PUMA, REEBOK ,SKETCHERS
NIKE,ADIDAS,PUMA,REEBOK,FILA,SKETCHERS
NIKE
PUMA
ADIDAS
REEBOK
FILA
EVALUATION OF
ALTERVATIVESIt a process by which a
consumer process competitive brand
information and make a final judgement.
3.
CONSUMER EVALUATION PROCESS
1. The consumer would select a product which satisfy his need.
2. The consumer would also be looking for certain benefits from the product solution.
3. The consumer would see each product as a bundle of attributes with varying abilities to deliver the benefits
BELIEF AND ATTITUDESWe by default have certain belief about some brands which develops
our positive or negative attitude towards them.
THE BEST
BRAND MEMORY CAPACITY
OPERATING SYSTEM
PRICE
A 7 7 7
B 7 6 8
C 5 8 9
EXPECTANCY-VALUE MODEL
Suppose we need to choose between 3 brands A,B,C to
purchase a smartphone.We rate the important
attributes according to out beliefs and then assign the
importance of each attribute in terms of percentage.
IF we rate memory capacity as 30%, operating system as 45% & price as 25% , then
A 0.3*7+0.45*7+0.25*7 7
B 0.3*7+0.45*6+0.25*8 6.8
C 0.3*5+0.45*8+0.25*9 7.35
THEREFORE, WE ARE MORE LIKELY TO CHOOSE BRAND C ACCORDING TO THIS CRITERIA
PURCHASE DECISION
The consumer has decided his
purchase intentions but certain factors may change his
decision.
4.
NON-COMPENSATORY MODELS OF CONSUMER CHOICEThe consumers often tale “mental shortcuts” called heuristics in the
decision process.
CONJUNCTIVE HEURISTIC
Consumer sets a minimum acceptable cutoff level for each
attribute .
LEXICOGRAPHIC HEURISTIC
Consumer chooses the best brand on the basis
of its perceived most important attribute.
ELEMINATION-BY-ASPECTS HEURISTICConsumer compares
brands on an attribute selected
probabilistically.
INVERVENING FACTORS Factors such as attitude of others could affect our decidion
Person’s attitute Critics attitude.
POSTPURCHASE ACTION
PRIVATE ACTION- suggesting others not to buy the product
LEGAL ACTION- we may also file case in consumer forum.
1. Problem Recognition2. Information Search Information Sources Search Dynamics
4. Purchase Decision Non-compensatory
model Intervening factors
3. Evaluation of Alternatives Beliefs &
Attitudes Expectancy-Value
Model
5. Postpurchase Behaviour Satisfaction Actions Offers& uses
SUMMARYConsumers make purchase decisions by a 5- stage model
KOTLER, P. & KELLER, K. 2011. Marketing Management 14th Edition , Upper Saddle River, NJ, Prentice Hall(With due thanks
to the owners of Photograph
CREDITS: