Week 3 Discussion – The Consumer Decision Making Process

Learning Objectives Covered

1. Identify and describe the five steps in the consumer decision making process

Background

The Consumer Decision Making Process

Think about a recent purchase that you made. Did you start out with a problem or need? How did you determine what product you wanted to purchase? Did the product you purchased end up filling your needs?

To determine how to connect with a consumer audience, marketers need to understand the consumer’s behavior. It’s their goal to get inside the head of a consumer. What motivates the consumer to go out and make a purchase? Why might they choose a particular product over another? Why might a customer be satisfied with their purchase or why might they choose to return it? The consumer decision making process brings to light the need or desire for products. Many purchases are made without a second thought. Some, however, take much thought and investigation. The consumer decision making process consists of five steps:

1. Need recognition
2. Information search
3. Evaluations of alternatives
4. Purchase
5. Post-purchase behavior

Please review the video below to go in-depth on the 5 steps of the consumer decision-making process:

The Consumer Buying Process: How Consumers Make Product Purchase Decisions | Episode 50 (12:14)

The Consumer Buying Process: How Consumers Make Product Purchase Decisions (Links to an external site.)

Consider how this information could be helpful to a new small business. What are some best practices they could use to influence their potential consumers to do business with them?

Factors that Influence Decision Making

There are several factors that impact and influence consumer decision-making. Consider your own buying behaviors. When you were growing up, did your personal values, teachers or other cultural factors impact what brands you chose to buy? What about social factors? Where you ever influenced by your parents or friends? Personal or individual factors that could influence decision-making include gender, age, family life cycle stage, personality, self-concept, and lifestyles. Consider these questions while you watch the video “Key Factors that Influence the Buying Decisions of Consumers.”

Key Factors That Influence the Buying Decisions of Consumers (6:31 minutes)

Key Factors That Influence the Buying Decisions of Consumers (Links to an external site.)

With the emergence of social media, word travels fast! We are able to connect with many individuals and share our thoughts and opinions even more quickly. Advertisements have become common on Facebook, Snapchat and Instagram. There are even social media influencers who are paid by companies to encourage their followers to purchase their products. While reading the below article, consider the influence social media has had on your buying decisions.

How social media influences consumer buying decisions (506 words)

http://www.bizjournals.com/bizjournals/how-to/marketing/2015/05/how-social-media-influences-consumer-buying.html (Links to an external site.)

Buyer’s Remorse

Buyer’s remorse is a phenomenon that occurs more often than business owners and corporations would like. It can occur when a customer is sold something (large or small) and after purchasing it and thinking about how they may not truly need or want it, they feel remorse or even anger. The customer may choose to return the product, write a negative review or discuss their dissatisfaction with other consumers. Buyer’s remorse is often caused by dissonance, which is conflict or tension within the consumer as they consider a purchase. Please read this article which will discuss the concepts of dissonance and buyer’s remorse as well as what marketers can consider to try to avoid it:

What is Dissonance in Marketing? (431 words)

http://smallbusiness.chron.com/dissonance-marketing-25900.html (Links to an external site.)

Prompt

Many of you have purchased or plan to purchase a new vehicle. This process can be very trying and lengthy. Using the five steps in the consumer decision-making process discuss each step as related to purchasing a vehicle. It can be new or used, you choose the features, specifications and price.

For your citation, you might use articles that show the steps in the consumer decision making process. You can also find articles from experts that discuss the impact of making purchases without prior consideration. You will also cite and reference the source for the information on the vehicle type and final choice.

Your initial and reply posts should work to develop a group understanding of this topic. Challenge each other. Build on each other. Always be respectful but discuss this and figure it out together.

Reply Requirements

Per the Due Dates and Participation Requirements for this course, you must submit your main post of 150+ words with at least two IWG citations and references. Two 50+ word peer responses are required as your follow up posts. Responses can be addressed to both your initial thread and other threads but must be your own words (no copy and paste), each reply unique (no repeating something you already said), and substantial in nature. Remember that part of the discussion grade is submitting on time (20%) and using proper grammar, spelling, etc. (20% per post).

Remember that part of the discussion grade is submitting on time and using proper grammar, spelling, etc. You’re training to be a professional—write like it. Will be sent to you on tuesday.

Click here for info on the Institution Writing Guidelines (IWG) if you have questions.