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Consumer Behavior And Marketing Psychology

   

Added on  2020-02-03

7 Pages1123 Words108 Views
Consumer Behaviourand MarketingPsychology

TABLE OF CONTENTOption 1: Your recent purchase of a product or a service based on the 5-step Consumer DecisionMaking Process................................................................................................................................31. Identify and analyse the need or want that led to the purchase of the product or service.......32. Conduct an internal and external information search.............................................................33. Evaluate alternatives and narrow down the attributes of the product or service that satisfythe need or want..........................................................................................................................34. Analyse available purchase methods......................................................................................35. Analyse post-purchase behaviour and satisfaction.................................................................4REFERENCES................................................................................................................................5

Option 1: Your recent purchase of a product or a service based on the 5-stepConsumer Decision Making Process.The consumer decision making process also termed as customer purchasing procedurestates about the journey through which a consumer is required to go for buying a commodity. Itis where interpreting the factual concept of consumer's buying process is equally important forboth the customers and the entities. It is where the consumers with such gradual support will takemost appropriate decision of purchasing and the organisational bodies can refer to formulatelikely strategies of marketing to accelerate the sale of their offered goods and services.1. Identify and analyse the need or want that led to the purchase of the product or serviceIt is a foremost step where the consumers are generally referred to ascertain anyunsatisfied demand that is required to be fulfilled (Goldsmith, 2016). This is for instance todiscuss upon such a factual situation of mine where I have just enrolled for an undergraduatedegree in a university where we get required to do daily projects and requirements. For which, Iam in need of purchasing a portable system to work from both my college and home. I therebyidentified a prime requisition of buying a laptop for the same. 2. Conduct an internal and external information searchI hereby started to investigate about such products that can duly satisfy my needs. Herein,I referred to conduct both internal and external search to get some possible alternatives of laptopsthat will tend to fulfil my needs (Oliver, 2014). It is where for internal search, I made use ofmemory and contacted my friends and relatives as a part of carrying out an external search. 3. Evaluate alternatives and narrow down the attributes of the product or service that satisfy theneed or wantAt this stage, I referred to evaluate all options that I have got in the above carried stepwhere I assessed the laptop brands of Dell, HP, Acer and Mac, etc., in terms of their warranty,durability, price, quality and after sale services, etc. 4. Analyse available purchase methodsThis is to chose from the purchasing alternatives where it involved some promptconsiderations of the product, its packaging, methods of buying and storing, etc. It is where afteranalysing so many options, I lastly decided to buy an HP laptop because of its advanced batterylife that I thought will serve to my foremost purpose of working for longer time period. Ithowever reflected the purchase decision that is duly accompanied by yet another option of

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