3.5 THE FIVE STAGES IN CONSUMER BUYING PROCESS

1.     Problem Recognition

The buying process starts when the buyer recognizes a problem or need. The need may be activated by internal or external stimuli. The intensity of want will indicate the speed at which the person will move to fulfill it.

2.     Information Search

An aroused customer will be inclined towards the search for information until the desired product is known and available. The person will also search for information until the desired product is known and available.

The person will also search for information relating to the brand, its location and the manner of obtaining the product.

3.     Evaluation of Alternatives

This is an important stage in the process of buying where several decisions are taken in the evaluation process.

The basic consumer evaluation process is as follows –

Firstly     – The consumer is trying to satisfy a need.

Secondly – He is looking for certain benefits from the product.

Thirdly    – He sees a product as a bundle of attributes.

4.     Purchase Decision

While the customer is evaluating the alternatives the person will have preferences among the various brands, a liking towards a particular brand will lead to the purchase of the product thus a prospective buyer heads towards final selection.

5.   Post Purchase BehaviorOnce the product has been purchased the consumer will experience some level of satisfaction and dissatisfaction. If the derived satisfaction is as per expected satisfaction then it will lead to brand preference and brand loyalty leading to future purchases. If the purchase does not yield derived satisfaction then the customer becomes dissatisfied and will lose its preference.