Question

Please explain the Purchasing/Buying Decision Process when buying a new car in a B2C environment. Do not forget to include all the major steps studied.

Answer 1

A buying process is the series of steps that a consumer will take to make a purchasing decision. A standard model of consumer purchase decision-making includes recognition of needs and wants, information search, evaluation of choices, purchase, and post-purchase evaluation.

Step one: Recognition of needs and wants

You can't make a purchase decision unless you actually know what you want or need. A need is an essential product or characteristic of a product that you must obtain. For example, you need water to survive. A want, on the other hand, is some product or product characteristic that you desire but is not essential.

Needs often arise because of problems, such as breaking the cell phone you use for business. Wants may arise as part of your need for a product, or because you have been influenced to want a product because of some outside influence, such as advertising or observing someone enjoying it.

Step two: Information search

After you determine your needs and wants, you will start to search and gather information about potential product choices that may meet them. Sources of information may come from print, radio, television, and Internet advertising. You may also do independent product research on the Internet, looking at product review sites and consumer Finally, you may seek the opinions of friends, family, and colleagues.

Step three: Evaluation of choices

If you performed your research correctly, you should have some options from which to choose. You use your needs and wants as criteria in evaluating and comparing each product against each other. You may find trade-offs, such as higher prices for products that include more of your wants. In the end, you will rank your choices and pick the product that best matches your needs and wants based upon the budget available to you for the purchase.

Step four: Purchase

At this point, you will purchase the product. Your purchasing decision may be influenced by the manner in which you can purchase and receive the product.

Step five: Post-purchase evaluation

After you have made your purchase and have had some time with the product, you will evaluate your decision. This evaluation may be conscious or unconscious. Your evaluation will play a large role in your loyalty to the product and the company that produced it.

Application to Marketing

A primary objective of marketing is to design and present products to potential customers that match their needs and wants. A marketer will attempt to influence each stage of the consumer buying process.