Chapter 4 Flashcards
Is the sequence of steps that a consumer will need to undergo in order to arrive at the final purchasing decision.
CONSUMER BUYING PROCESS.
CONSUMER BUYINGPROCESS
According to Philip Kotler, typical buying process involves six stages:
1.Problem Recognition
2.Information Search
3.Evaluation of Alternatives
4.Purchase Decision
5.Purchase
6.Post-Purchase Evaluation
A customer must first have a _________ before a purchase can happen.
PROBLEM RECOGNITION
This step is also recognized as identification of unmet needs. This
unmet need becomes a basis or force of buying behavior.
PROBLEM RECOGNITION
On the marketer perspective, this creates an opportunity.
Companies may gather information then develop marketing strategies to increase the interest of the customers.
PROBLEM RECOGNITION
At this point, consumer will read newspaper and magazine, watch
television, make a trip to a showroom or dealer, get in touch with salesperson and undertake all the feasible sources of _____________.
INFORMATION SEARCH
The role of marketers is to make their brands part of the consumers’
awareness set and then choice set.
INFORMATION SEARCH
SOURCES OF IN FORMATION
- PERSONAL SOURCES
- COMMERCIAL SOURCES
- PUBLIC SOURCES
- EXPERIMENTAL SOURCES
composed of family members, friends,
colleagues, and relatives
PERSONAL SOURCES
advertising, salesperson, dealers, trade show, display, & exhibition are leading _____________ sources.
COMMERCIAL SOURCES
- mass media such as radio, TV, newspapers, magazines, cinema, & consumer-rating agencies are some primary _____________ sources.
PUBLIC SOURCES
- consist of handling, examining, testing, or using the product
EXPERIMENTAL SOURCES
After a consumer has gathered information about certain brands of
a product, they are now ready to make _____________.
EVALUATION OF ALTERNATIVES
It is the role of the marketer to emphasize those advanced features of their brands.
Advertisement could help marketers make good comparison of the different goods.
EVALUATION OF ALTERNATIVES
The brand that offers maximum benefits or satisfaction in relation to price is chosen.
PURCHASE DECISION
At this stage, the customer has searched several brands; they knew
the price and payment options and now prefer one as a promising
brand to buy.
PURCHASE DECISION
It is essential for a marketer to provide more information about the
need discovered in the first step.
PURCHASE DECISION
FACTORS THAT CONTRIBUTE ON THE DECISION OF CONSUMER
TO AVOID, MODIFY OR POSTPONE A PURCHASE DECISION
- ATTITUDES OF OTHERS
- UNANTICIPATED SITUATIONAL FACTORS
- CONSUMER’S PERCEIVED RISK
sometimes other persons’ attitudes are negative about the consumer’s preferred brand. The consumer may be affected with these negative attitudes and comply with them.
ATTITUDES OF OTHERS
- increase in price, unemployment, income of the household, big medical expenses, & unavailability of the most favored brands & other comparable unexpected situation.
UNANTICIPATED SITUATIONAL FACTORS
- some bases of ____________ could
be on price, quality doubt, entrance of a new better-quality product and the
customer self-confidence.
CONSUMER’S PERCEIVED RISK
The _______________ consists of all the organizations that obtain goods and services used in the production of other products that are sold, rented or supplied to others.
Thus, _____________ does not
buy for personal use.
THE BUSINESS MARKET
TYPES OF BUSINESS MARKET
- INDUSTRIAL MARKET
- RESALE MARKETS
- GOVERNMENT MARKET
- INSTITUTIONAL MARKET
- consists mainly of companies making business in durable goods such as machinery, materials, chemicals, vehicles, office furniture and supplies.
The buyers are often manufacturers and the resellers are known as suppliers.
INDUSTRIAL MARKET
