Buyer Decision Process Essay - 1409 Words

1. Introduction Whether marketers understand how customers make their purchase decision is a very important issue for a company. It can bring numerous influences to companies for establishing an appropriate marketing strategy. Therefore, the research of each stage of buyer decision process is relevant for all the marketers. Teo and Yeong (2003) point out that the setting up of buyer decision process model can help managers to understand and forecast consumer behaviours, and thereby they can make effective decision for providing more acceptable offers to customers. Kotler, Brown, Burton, Deans and Armstrong (2010) also hold the same view and state that there are five main steps of buyer decision process, as outlined in Figure 7.8. Firstly,†¦show more content†¦Moreover, Teo and Yeong (2003) emphasize that seeking more information can diminish uncertainty of customers’ evaluation and amount of expenditure is the main element to decide the level of information. 2.3 Evaluation of alternatives Before consumers have their actual purchase action, using the information obtained from search to evaluate and compare the alternatives they have decided to consider is a significant stage for the whole process. This stage is depended on individual customers and certain purchase situation (Kotler et al, 2010, p. 223). Frambach, Roest and Krishnan (2007) point out the experience in certain respect of customers can bring powerful effect on their evaluation. However, sometimes consumers estimate their favorite offers by resorting their friends, consumer guides or sellers (Kotler et al, 2010, p. 223). The general evaluation of consumer for the alternatives can be increased by improving the consumers’ awareness about the quality of the products and benefits of using them (Teo and Yeong, 2003, p. 353). 2.4 Purchase decision Furthermore, the actual purchase action that made by consumers is the fourth stage of the buyer decision process. The opinion of others and unforeseen circumstance intervene between the purchase intention and purchase decision. The expected revenue of customers, the expected charge of the alternative and expected advantages of using theShow MoreRelatedBuyer Decision Process999 Words   |  4 PagesHead: BUYER DECISION PROCESS Buyer Decision Process Eric Christensen Dr. Albert Socci American Intercontinental University Abstract What makes you decide whether or not to buy certain product or even buy into certain services mainly depends on inside or outside influences. These influences are part of our buying schema, what buying behaviors we have learned taught by parents or siblings, even friends, this is a type of blueprint in the recesses of our minds. Our buying decision processesRead MoreThe Buyer Decision Process of a Porsche Customer723 Words   |  3 PagesBuyer Decision Process Porsche is one of the most well-known brands in the world. In customers minds, Porsche stands for exclusivity, class, and high quality. The companys marketing strategy is oriented towards identifying the needs and preferences of a small group of customers and on developing car models that satisfy these needs. However, Porsche was forced to introduce several models on the market that were not in accordance with what typical customers of the company usually prefer. TheseRead MoreIkea: the Buyer Decision Making Process3366 Words   |  14 PagesIKEA: The buyer decision making process and related influences. 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Section 1: Introduction (about 150 – 200 words) The study of consumer behaviour examines consumer’s methods of purchasing and divestment of possessions, labour, concepts or knowledge by people, associations and companies to fulfil their necessities and desires (Keller Kotler , 2011). This is significant to marketers because with a good knowledge base aboutRead MoreBuyer Behavior Report : Consumer Decision Making Process2445 Words   |  10 PagesBuyer Behaviour Report: The consumer decision making process as it relates to a consumer who is replacing their laptop. ID number: 14049438 Submission Date: 9pm Sunday 15th March 2015 Module Name Number: 4BUS1010-0206-Principles of Marketing Module Lecturer: Caroline Wilson and David Ogle Word Count: Table of Contents. 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..1 2. The Characteristics that Affect Consumer Behaviour†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 3. The Types of Consumer Buying Decisions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4Read MoreThe Marketing Implications of the Buyer Decision Process of Nestlà © Cookie Crisp1413 Words   |  6 PagesThe marketing implications of the buyer decision process of Nestlà © Cookie Crisp. Executive Summary The marketing implications of Nestlà © Cookie Crisp were examined in relation to the stages of the buyer decision process. This report looked at the aspects of each stage in the process, and considered the implications of each issue on the marketing of Cookie Crisp. Since the process is guided in some stages by unexpected factors and the behaviour of other consumers it was found that marketing researchRead Moreâ€Å"Knowledge of the Process That Organisational Buyers Follow in Making Purchasing Decisions Is Fundamental to Responsive Business Marketing Strategy.†1702 Words   |  7 Pagesâ€Å"Knowledge of the process that organisational buyers follow in making purchasing decisions is fundamental to responsive business marketing strategy.† INTRODUCTION In today’s globalised and forever changing world of business, different organisations around the world are finding it very difficult not only to compete but also to be managed efficiently and effectively by management. The world of business is very volatile and forever unpredictable and this is caused by changing and difficult forcesRead MoreMajor Types Of Buyer Decision Behavior1282 Words   |  6 Pages Major types of buyer decision behavior and the stages in the buyer decision process Viji Seshadri UCSC Extension Buyer Decision Behavior Buyer decision behavior significantly differs when deciding for buying a cellphone, tablet, car, perfumes and banking or financial services. It differs by degree of customer’s involvement and degree of availability and difference among other brands (Kotler and Armstrong, 2014). Depending on the two factors buyer decision behavior is classified into four types