Consumer Buying Behavior Essay

Research suggests that customers go through a five-stage decision-making process when making any purchase. This is summarised in the diagram below:

In the case of Stephanie Riesling, you can see the consumer go through the five steps of the consumer decision process as she goes through the journey of purchasing a new car. Stephanie is a senior about to graduate college, in the consumer decision making process, she is about to embark in a life stage change. This leads her to recognize her need for a new car. The next phase of the process was information search, she was not sure what car she wanted to purchase, but knew she needed something that was nice looking, in her price range and was known to last a long time. She narrowed her car search down to a consideration set of four vehicles. She did a lot of external searches for information, using non-marketing sources. She used personal sources from acquaintances and independent sources like consumer reports. She has a high involvement in the determination of information search, since this was an expensive purchase for herself. The consumer final reaches the third step of the process and had the it narrowed down to one car brand, but had alternative things to consider, like features on the car and the color of the car. She had an evaluation criterion that she set of things that must be on the car and the rest was negotiable depending on cost. Based on the case it sounds like the consumer

D. New products offerings by a competitor may require adjustments to one or more components of the firm’s marketing mix

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

B) a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests

2. Which of the following is NOT one of the broad factors manufacturers must consider when establishing a strategy for getting their products into the hands of the ultimate customer?

The advertiser ought to consider different shopper components while settling the costs. The shopper calculates that must be considered incorporates the value affectability of the purchaser, acquiring force, et cetera.

14) The attitudes and behavior patterns of consumers making a purchasing decision are part of the

23) Which of the following qualities is least likely to decrease a consumer's search costs?

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

A) Please respond to each of these considerations for the one chosen new product of your Product Group:

After the customer recognized a need he seeks information about the problem. He will search more or less information depending on the complexity of the choices to be made but also his level of involvement. Then the customer will seek to make his opinion to guide his choice and his decision-making process with:

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

After recognition of needs, the purchaser might search for the related information about the product and the alternatives which could able to fulfil the need before making direct decision on purchasing the product. Nevertheless, every customer has different preference in seeking information as it depends on the customers’ knowledge about the product. In the information acquisition process can be separated into two parts, which is internal search and external search (Jeddi, Atefi, Jalali, Poureisa & Haghi, 2013). The internal search is the customer obtains the information from experiences, it can be known as an experiential source for consumer. For the external search, it included personal source and commercial source. Personal source is the feedback of family, friends, peers, classmates, colleagues and exhibition towards the product (Mattila & Wirtz, 2002). In addition, the commercial source is information that find through the advertisement, salesperson, displaying and packaging of the product (Bradley, 1995). Consumer also seeks the information by using Internet (Bhatnagar & Ghose, 2004). Thus, a comprehensive marketing programme of company must be designed to provide the awareness for consumer to know that the product as

1. Consumers are often` confronted with incomplete information. How do consumers deal with incomplete information for (a) attribute values (b) brands? (give examples)