Question

Short answer: What are the 3 separate domains- perspectives on consumer behavior and why is it important to understand the primary driver of decision making? Be specific, clear and concise.

Answer 1

The stages of the decision process normally occur in a fixed sequence.] However it should be noted that information search and evaluation can occur throughout the entire decision process, including post-purchase.

Problem recognition

The first stage of the purchase decision process begins with problem recognition (also known as category need or need arousal). This is when the consumer identifies a need, typically defined as the difference between the consumer's current state and their desired or ideal state. A simpler way of thinking about problem recognition is that it is where the consumer decides that he or she is 'in the market' for a product or service to satisfy some need or want. The strength of the underlying need drives the entire decision process.

Theorists identify three broad classes of problem-solving situation relevant for the purchase decision

Extensive problem-solving

Purchases that warrant greater deliberation, more extensive information search and evaluation of alternatives. These are typically expensive purchases, or purchases with high social visibility e.g. fashion, cars

Limited problem-solving

Known or familiar purchases, regular purchases, straight re-buys. Typically low-priced items.

Routinized problem-solving

Repeat purchases or habitual purchases

Consumers become aware of a problem in a variety of ways including:

Consumer decision-making process is the most important thing towards the buying of a product. The consumer typically behave in a way while making a decision of buying and this may generally fall in the order as recognition of the product, Information finding and search related to that in a various way, evaluation and finding of the alternatives, then making a purchase and then post making an opinion.

So it is important to know the rationale behind the consumer buying a product so that we can understand that what is the driving force which compels the customer to buy our product and can also come to know that what factor is most important for a customer to buy our product.

Example: Our Company introduces a car and customer recognized this as a good brand. Now he can buy it for many reasons like

Maybe he likes a new brand or new things to purchase in the market
Maybe he evaluated other alternatives and did some research but find our product better
Maybe he finds services and other things of our brand as important aspects.
So by knowing the consumer decision rationale, we can able to find out the things which tick the customer mind most of the time and hence able to expand the product