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Understanding Consumer Choices

Understanding Consumer Choices

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4 views

Understanding Consumer Choices

Understanding Consumer Choices

Uploaded by

vaishali.garg.bba22
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 14

Understanding Consumer

Choices
Understanding Consumer Choices

• Consumer Decision-Making Process


• Introduction to Consumer Decision Making
• Stages of the Consumer Decision-Making Process
• Stage 1 - Need Recognition
• Stage 2 - Information Search
• Stage 3 - Evaluation of Alternatives
• Stage 4 - Purchase Decision
• Stage 5 - Post-Purchase Behavior
• Factors Affecting Consumer Decision Making
• Conclusion & Implications for Marketers
Understanding Consumer Choices

• Questions & Discussion


• Thank You!
Introduction to Consumer Decision Making

• Definition Overview: The consumer decision-


making process involves steps from need
recognition through purchase to post-purchase
evaluation.
• Importance for Businesses: Understanding this
process allows businesses to tailor product
offerings and marketing strategies to consumer
needs.
• Stages Impacting Choices: Each stage influences
consumer choices, significantly affecting business
outcomes and customer satisfaction levels.
Photo by Pixabay on Pexels
Stages of the Consumer Decision-Making Process

• Need Recognition: Identifying unmet needs triggers the consumer journey, leading to search for applicable
solutions.
• Information Search: Consumers actively seek information through personal experiences, reviews, and
advertisements that inform decisions.
• Evaluation of Alternatives: Consumers assess various options based on criteria like price, quality, and
brand reputation before purchase.
Stage 1 - Need Recognition

• Internal vs External Stimuli: Need recognition


can arise from internal factors like hunger, or
external factors such as advertisements.
• Advertising Influence: Advertisements can
effectively trigger need recognition; for instance,
a commercial may evoke cravings for snacks.
• Realization Leading to Action: Once needs are
recognized, consumers move towards
information search and evaluating alternatives
for solutions.
Photo by RDNE Stock project on Pexels
Stage 2 - Information Search

• Dual Information Search: Consumers search for


information through internal memories and
external sources like online reviews and social
media.
• Cellphone as a Tool: Cellphones facilitate quick
access to product details, empowering
consumers during their information search
phase.
• Impact of Reviews: External reviews significantly
influence decision-making by providing insights
into product reliability and customer satisfaction.
Photo by Pixabay on Pexels
Stage 3 - Evaluation of Alternatives

• Product Comparison Dynamics: Consumers evaluate alternatives using key attributes like price, features,
and brand identity before making decisions.
• Compensatory vs Non-Compensatory: Decision types can be compensatory, allowing trade-offs, or non-
compensatory, focusing on minimum acceptable criteria.
• Smartphone Example: For smartphones, consumers may weigh specifications, prices, and reviews to
choose their preferred model effectively.
Stage 4 - Purchase Decision

• Purchase Decision Factors: Psychological


influences include motivation and perception;
social factors encompass family, friends, and
cultural contexts.
• Situational Influences: Environmental conditions,
such as store atmosphere or promotional events,
can greatly impact purchase decisions.
• Example Scenario: During a sale, consumers
might choose a specific phone driven by
perceived value and peer recommendations.
Photo by Andrea Piacquadio on Pexels
Stage 5 - Post-Purchase Behavior

• Post-Purchase Reflection: Consumers assess


their satisfaction post-purchase, which heavily
influences future purchasing decisions and
loyalty.
• Cognitive Dissonance: After acquiring a new
phone, consumers may experience regret or
conflicting thoughts about the decision made.
• Emotional Responses: Feelings of joy, relief, or
dissatisfaction emerge, shaping consumer
perceptions towards the brand and product
performance.

Photo by Lany-Jade Mondou on Pexels


Factors Affecting Consumer Decision Making

• Psychological Influences: Cognitive biases and emotional responses significantly guide consumer choices,
often varying by age demographic.
• Social Factors: Peer influence and societal norms affect consumer decisions, differing notably between
younger and older generations.
• Situational Context: Purchase environments uniquely shape decision-making; for instance, youth may
favor social shopping scenarios over solitude.
Conclusion & Implications for Marketers

• Enhanced Marketing Strategies: Understanding consumer processes enables marketers to create


campaigns that resonate effectively with target audiences.
• Building Customer Trust: Transparency and reliable information foster trust, influencing consumer
confidence during their decision-making journey.
• Effective Follow-Up Practices: Post-purchase engagement through follow-ups enhances customer
relationships and encourages repeat purchasing behaviors.
Questions & Discussion

• Engagement Through Questions: Pose questions


like 'What influences your decisions?' to
stimulate insights and perspectives among
attendees.
• Discussion Prompts: Prompt discussions on how
marketing strategies can adapt at various stages
in the consumer process.
• Real-World Applications: Encourage sharing of
personal experiences that reflect their decision-
making in recent purchases or services.
Photo by Vera Arsic on Pexels
Thank You!

• Thank You: We sincerely appreciate your


attention and engagement throughout this
presentation on consumer decision-making.
• Invitation for Feedback: Your insights are
valuable; feel free to share questions or feedback
regarding today's topic.
• Further Inquiries Welcome: For additional
discussions, don’t hesitate to reach out after the
session regarding this subject.

Photo by ThisIsEngineering on Pexels

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