Question

1. What influence consumer purchase decision (four factors) and discuss
each of it.
2. What is consumer purchase decision process (five steps)? Pls discuss
each of it.

Answer 1

Ans1):- Consumer purchase decision is a thought process, that thought or decision make a consumer from recognizing the need of a product , creating choice and finally deciding to purchase a particular product or particular brand.Many factors influence consumers purchase decision.Some of them are.

1. Financial or economic factors:- The first and important factor that influence the consumer's purchase decision is the economic condition. This is the base of any purchase choice.

2. Social factors:- Social factors includes place,social status, family decision etc. These factors influence the buying decision of a consumer.

3. Functional factors:- That depend the essential use and suitability of a product.

4. Consumer's personal factors:- Consumers personal factor is most important for buying a product. The personal factors include customers job, age, financial stability, gender, social status etc.

Ans 2):- Consumer's purchase decision process refers to customer's journey before they purchase a product. It most important for marketing and sales of a product. The five stages of decision making process are.

1. Basic recognition or problem recognition:- Here the customer recognize the basic want of a product or problems of products and customer recognized the difference of products. And finally they catch the good one.

2. Evidence or Information search:- Searching pre evidence or Information about the product.

3. Assessment or evaluation of alternatives:- Consumer use the evidence for assessing or evaluating the product brand.

4. Buying decision:- After the above analysis consumer make buying decision . And finally they choose most appropriate product.

5. Post buying assessment or evaluation:- It is the last stage of Consumer purchase decision process. It is very important process. It depends about Consumer's happiness or unhappiness.Here the consumer will become a trustworthy customer or not.