Consumer Buying Behavior
Five Step Model of the Buying process Need arousal Collection of information Evaluation of information Purchase Post-purchase evaluation
Shortcomings of the model Consumers withdraw Stages overlap Stages are skipped Several buying decisions occur simultaneously
Step 1: Need Arousal Conscious Unconscious Preconscious
Types of Needs Functional needs Psychological needs –Stimulation –Social –Trends –Status and power –Self-reward Conflicting
Step 2: Information Search Sources of information –Internal vs. external Time spent searching
Step 3: Evaluate alternatives Multi-attribute model –Used to evaluate merchandise –Used to evaluate retailers How retailers can affect this
Step 4:Purchase Increasing the likelihood of purchase –Don’t stock out –Fair return policies –Credit –Convenience –Reduce waiting time
Step 5: post-purchase Satisfaction Dissonance
Types of buying situations Extended problem-solving Limited problem-solving –Impulse purchase Habitual problem solving –Brand loyalty –Store loyalty
Psychological influences on the buying process Perception Learning Attitude Personality
Situational influences on buying behavior Time Surroundings Customer moods and motives
Social influences on buying behavior Family/household –Family decision making –Family life cycle Reference groups Culture –Subculture Social class
Consider: How do these elements affect the buyer’s job? –The buying process –Psychological, social, and situational influences How do these elements factor into the buyer’s role in the organization?