Consumer Decision Making Process: A Comprehensive Study

Transcript
Hi all, today we are going to talk about very important topic of our life. Every day we purchase
and dispose few of the products, but have we ever realized the process behind the decision we
make, let’s do it today (Stankevich, 2017).
As we know that the preferences of customers are constantly changing (Prasad & Jha, 2014), it is
important to study how consumers make purchase decision. We would also evaluate the several
other factors which affects the decision in the coming slides (Miklosik, 2015).
The types of consumer behavior are decided by these factors: They are: level of consumer
involvement for buying a product, extent of time taken to arrive at a decision, Price of products
decided to spend on, extent of in-depth information analyzed by the consumer with respect to
any product or number of alternatives considered before buying the product (Hussain, 2017)
There are different kinds of purchasing methods available in todays’ world, hey are: cheque;
petty cash; credit card; and purchase requisitions and orders. moreover there are five esseniatl
methods of purchasing while we go for a purchase. Bulk Purchasing, Hand to Mouth Purchasing,
Speculative Purchasing, Blanket Purchasing, Reciprocate Purchasing. however we are going to
study now the cunsumer buying decision process (vskills.in, 2019).
Need recognition
I have a marathon race in my university and hence I would need a pair of running shoes. I have
registered for the marathon and I need a good quality shoes to wear, preferably from a known
brand (professionalacademy.com, 2017).
Information search
Now that I have decided to purchase shoes, I will take opinion from different people and sources.
I asked my friends and colleagues about which brands they are wearing, which are good to
purchase. My friend told me to get Adidas. I searched information online and saw few
commercials where I find 2-3 good alternatives such as Nike, Adidas, and Reebok. All are of
similar prices. It is fitting in my budget also. I read their views online. I had converse also which
can also be considered as an option. By searching online and reviewing the comments on social
sites, I got to know about puma also. Puma is also considered as a best brand amongst top brands
of shoes (Stankevich, 2017).
Evaluation of alternatives
Now that I have a set of options considered in my mind, I decided to buy shoes one of those 4
alternatives. The four alternatives are Nike, Adidas, Puma and Reebok (adidas.co.in, 2019).
After evaluating these options on the basis of price, quality, durability, and customer reviews etc,
I will decide which one to buy. The evaluation process of deciding shoes is very complex; each

individual gives similar reviews for all brands. The process of buying branded shoes is a high
involvement process as buying branded shoes is a costly affair (Farooq, 2016).
Purchase decision
The potential alternatives are Nike Adidas Reebok Nocona Puma and Volley. The awareness set
includes Nike Reebok Adidas and puma (nike.com, 2019). On the other side the awareness set
which I have avoided are volley and Nocana. The step is to prepare evoked set. Here we have
considered Nike and Adidas as evoked set. Out of those I have selected Nike as a specific
alternative to purchase. Adidas was considered but not purchased. The insert set includes Puma.
The inept set includes Reebok (Riley, 2018).
This is the last phase where we actually make a decision to buy a product. For example, after I
read the advertisement of Nike shoes, I went for information search. After evaluating several
alternatives, now I feel that Nike shoes will satisfy my need or want.
Post purchase decision
After buying the product, we will now look at the aspect of post purchase decision. Here we will
compare the satisfaction level of an individual. I will compare the product with my expectation. I
will see whether my Nike shoes has reached my expectation in terms of quality, color, durability,
comfort etc. If the expectation does not match the real experience, it will create dissonances
(ftms.edu.my, 2018).
I had bought Nike shoes and have started wearing it; I feel that Nike shoes are giving more
comfort to me and are of good quality as compared to other shoes. In future purchase decision I
will repurchase the Nike shoes because it satisfies my needs (n.a, 2012).
Maslow’s theory
Let us now evaluate the Maslow’s hierarchy. Buying a pair of shoes will fulfill my physiological
need (IFEDILI & IFEDILI, 2012). Nike shoes are of good quality and it is comfortable as well. It
will help me to run safely without any scars. Nike gives status quo in the society. It enables me
to be a part of social group that makes me feel proud. At the end I feel good after wearing Nike
shoes (KELES, 2015)
References