Question

How do consumers make decisions whether or not to buy the product, and how do they arrive at their final brand decision? What are the implications for management for the brands in the category?

Answer 1

Consumer buying decision is a process which goes through six stages. Out of which four comes into play which influences consumers to buy any specific brand, these are:

1. Problem recognition: The first stage where the consumers feel that there is some problem or a need for the certain product.
2. Information search: The consumer start getting as many information as possible about the product and where can it be fulfilled.
3. Evaluation of alternatives: One of the most crucial stages, where the consumers find alternatives of brands or the product.
4. Purchase decision: Based on all the three stages, consumers come to a conclusion about which product and brand he or she needs to buy.

An implication for the brands in the category would be that the brands which would be preferred by consumers would get higher sales whereas the brands which won’t get consumers’ preference would have to bear the loss and might have to improve their products or marketing strategy.