In: Economics
Consumer purchase decision process includes five stages, from need recognition to post – purchase evaluation. Please identify the level of consumer involvement for the following products (companies), and show which stages of DMP consumers go through when they consider purchase.
The purchase decision is based on the following 5 stages:
No.1) Need identification stage, where consumers find their needs.
No.2) Consumers gather information about products or companies.
No.3) Consumers evaluate all alternatives of a product.
No.4) Consumers go for purchasing the product if it is preferred after all sorts of evaluation.
No.5) Consumers need after-sale service.
Soft drink:
Level: consumers are brand lovers here – a certain brand of drink is preferred by a group of consumers; they always search for that brand. The involvement is high, since it requires for refreshing in everyday life.
Stage: consumers usually go through by number 3 stage. There are so many soft drinks in the market, but by an evaluation of alternatives a particular soft drink is preferred by a customer.
T. Jewellery:
Level: This is a luxury good and not required in day to day life; therefore, the consumer involvement is low.
Stage: consumers usually go through by number 1 stage. Consumers have to identify if there is a need of purchasing jewellery.
C. Beer:
Level: this comes out of addiction; therefore, the level of involvement is high for those addicted people.
Stage: the number 2 stage is important here. Before going to purchase a bottle of beer, consumers want to get all sorts of information about that beer.
Airlines:
Level: involvement level is high here for frequent visitors.
Stage: there is also number 2 stage important. Before riding consumers gather information about that airline.
Job:
Level: the involvement level is high for job seekers.
Stage: the number 2 stage is also an important factor. The job seekers collect informations about the company.
Rolls Royce:
Level: very low involvement here, since this is optional to take a luxury car.
Stage: the 5th stage is important here, since consumers know that they may require after-sale service in future.
B. cereal:
Level: there is very high involvement, since breakfast food becomes necessary daily.
Stage: the 1st and 3rd stages are important here, since consumers are need oriented (calcium, protein, vitamins, etc. in food) and evaluator (suppose, the cereal that matches consumer’s taste).