Question

Discuss the buyer decision-making process in detail. What is an ‘evoked set’, and why is it crucial to brands when consumers are making purchase decisions?

Answer 1

The buyer decision making process follows 5 stages :

1. Need Recognition : This is the starting point and involves the recognition of a problem which is also called a need. The consumer thus tries to fulfil this need by a buying a product/service.

2. Information search : Once buyer is aware of a need, he/she will try tp search for information related to products/services which fulfil the need. They look around to gather choices available in the market. These buyers usually look at the consideration set or the evoked set at this stage for reference.

3. Evaluation of alternatives : Once probable alternatives are defined by the buyer, he/she will evaluate these alternatives to seek the most value maximising product given the budget constraints of the individuals.

4. Selection of final product : On evaluation, the consumer makes the final choice and purchases the product or avails the service.

5. Post purchase evaluation : The consumer after purchase, then evaluates if the purchase was worthy and has it fulfilled the need or not. The consumer might be satisfied of the purchase or may fall into post purchase dissonance where he regrets the purchase. The feelings associated at this stage regarding the purchase will drive repurchase of the product/service

An evoked set is also called the consideration set which is a group/set of prospective brands which the consumer is aware of and comes to their mind when making a purchase decision.

It is very crucial for brands to be in the evoked set as it ensures that the customer will atleast consider the brand for purchase. If the brand is not in evoked set, the customer will never buy that brand product.