Five stages of the consumer buying process

Five stages of the consumer buying process

According to Kotler & Lee (2005), consumer buying process is a psychological process that plays an important role in understanding how consumers actually make their buying decisions. It is the process which individuals decide whether, what, when, where, how, and from whom to purchase goods and services. It is also called a Buying Decision Process. There are five stages through which customers go through for buying any product.

Problem or Need Recognition

This is the first stage in customer buying process. It is the phase when the buyer recognizes the problem, the problem here is the need by which he/she is forced to make a decision. In this case marketers should isolate the situations that generate the necessities of the consumers through appropriate marketing intelligence or marketing research. For instance, you did not know the need of jacket until you feel the cold.

Information Search

It is the stage when consumer discovers out a problem and search for more information to replace or purchase of product. The customer may depend on such as internet, technological, visual, online media, printed for gathering information. Internal search is about recalling the relevant information stored in memory whereas, External search is about thoughtful and intentional search of new information concerning relevant product. For example: The man can have information from different mediums, he will need to seek about brands, prices, qualities and by other aspects.

Evaluation of Alternatives

In this stage consumers carefully and logically think in evaluating the alternatives. They may buy on impulse and depend on intuition or may make buying decisions on their own. Here customers go through different alternatives for their problem of need satisfaction. That’s why marketers should be aware of customers’ behavior and their activity to fulfill their evaluating decisions.

Purchase Decision

In this stage Consumers pick the products according to their expectation and their objectives. For small decisions they make quick decisions but for expensive or complex decisions they may take long time to make decisions. In the example, a man will buy the jacket if he is satisfied by all the aspects by which he is expecting to buy it.

Post-purchase evaluation:

It is the last stage of the process where the consumer responses whether he/she is satisfied or dissatisfied with the product and its features. Here, consumer gives feedback about the product on the basis of their comparison of products with previous expectations. This reflects the possibility of the consumer to buy same goods in the future. In the example: if the jacket is going in accordance with his previous expectations the possibility of his referring or purchasing the same good will be high.

Marketers who are aware of customer such buying behaviors can better predict how consumers will respond to marketing strategies. They can make their further marketing plan accordingly, which will provide competitive advantages to the company.

References;

Boone, Louis E., and David L. Kurtz. (2001): Contemporary Marketing. (10th ed.). Fort Worth: Dryden Press.

Kotler, P., & Keller, K. (2012). Marketing Management. Pearson Prentice Hall: Upper Saddle River, New Jersey 07458