Consumer Purchase Decision Making in Marketing: A Report

This report delves into the intricacies of consumer purchase decisions within the realm of marketing. It emphasizes the importance of understanding the factors that drive consumer behavior, particularly in a competitive market. The report discusses the evolution of Maslow's Hierarchy of Needs and its relevance in the modern consumer landscape. It examines the decision-making process, particularly in high-value purchases such as automobiles, highlighting the significance of brand image, consumer needs, and price considerations. The report also underscores the necessity for marketers to tailor their communication strategies based on a deep understanding of individual consumer preferences and needs to enhance customer satisfaction and drive purchase decisions.

Running head: MARKETING
Marketing
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MARKETING
No matter how innovative one’s advertising campaign is it is extremely necessary for
marketers and brands to realise what actually drives a consumer’s purchase decision. There
are host of internal and external factors which work behind a consumers psyche regarding
making a specific purchase. No doubt about the fact that Maslow’s Hierarchy of Needs
Theory (Lee, Jae Min, and Sherman, 2015) is the traditional answer of determining the needs
of a consumer yet in the global changing environment this need theory has also evolved and
includes host of other factors. Today it is extremely important for marketers to understand
how customers make their final decision of purchase because of the intense market
competition, easy availability of substitutes and the increasing need to make consumers stick
to one’s brand.
Now specifically talking about purchasing a car, there is no doubt that it involves a
huge investment hence the decision making process will also be extremely critical and well
planned. Personally I feel when people wish to buy a car they already have a specific model
or brand in their preference and a price range they agree to move forward with. Hence price
is no doubt an important determinant but is quite fixed, until and unless the customer is
wooed by something quite exclusive that makes him forget his budget. In my opinion the best
way to decide upon is to see whether the car suits the customer’s need specifications which
definitely include the style, the features and colour and then he should judge whether it
justifies his status quo (Sallam and Methaq Ahmed 2014).
Car brands are very well aware of the psyche of each consumer they deal with.
However such detailed analysis will help the marketers to tailor their communication
message keeping in mind the most influential purchase decision- making factors for each of
their customers which will altogether ensure a happy and satisfied purchase making for the
consumers

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MARKETING
References:
Lee, Jae Min, and Sherman D. Hanna. "Savings goals and saving behavior from a perspective
of Maslow's hierarchy of needs." Journal of Financial Counseling and Planning 26, no. 2
(2015): 129-147.
Sallam, Methaq Ahmed. "The effects of brand image and brand identification on brand love
and purchase decision making: the role of WOM." International business research 7, no. 10
(2014): 187.