Question

Assuming that you are the potential customer, analyse FIVE (5) stages of buying process you go through before making decision.

Answer 1

Following are the five stages that I go through before making a decision while purchasing.

· Research

· Purpose

· Usage

· Trust

· Evaluation

Research: Research is the first and important stage before making any decision about a product while purchasing. Research always helps us in understanding a product in a better way. It helps you in creating options and opinions on a specific product.

Example: I would like to buy a DSLR camera, but I literally don’t know anything about it, then I choose to do research about DSLR camera and eventually this research help me in understanding the purpose of having a camera, brand details that fulfil my requirements, etc., a research will always help if we do it in an appropriate manner.

Purpose: We should clearly understand the purpose of having a specific product. Sometimes it is not easy to understand the purpose, and then we can select a theory called needs Vs wants to get a better exposure.

Example: I want to buy some colorful nail polishes and I went to a store, by seeing their amazing collection I am dumbstruck for a while and I thought to buy all of them, because they are attractive and affordable, but I was confused, so it’s time to apply my needs Vs wants theory to understand what I actually want to buy and every time when you choose to do this theory pick need over want because that is important. My need is some colorful nail polishes and my want is to buy all of them. I choose need.

Usage: Before buying a product we should ask ourselves two questions that how often we use the product and its sustainability.

Example: I like to wear skirts, but I am not comfortable in it so before buying a skirt I should analyze by myself that how often I am going to use this and how long it will last with me.

Trust: Maintaining the trust on same brand again and again is not easy, when it comes to a specific product we often choose to pick it up from our comfortable brand.

Example: I would like to buy my lipsticks from Mac because it is my comfortable brand and it fulfills all my requirements.

Evaluation: Before buying any product this is the final step that I do. I will analyze my opinions and considerations on the specific product and then I will buy it.

Example: I would like to buy foundation (cosmetic product), so I will do my basic research and understand the purpose of this product in my life and analyze its reliability and then will choose the brand which suits me better and will make a purchase accordingly.