BUYING DECISION PROCESS

What a customer buys ultimately depends on the various factors. As there are number of substitutes available, deciding which brand to choose becomes a question that every marketer aims to answer.

Kotler gives five stages through which a customer reaches his final decision.

 

NEED RECOGNITION:

The buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli. marketers need to identify the circumstances that trigger a particular need by gathering information from a number of consumers. they can develop marketing strategies that spark consumer interest.

 

INFORMATION SEARCH :

After the need is recognised, customer starts to search information about the product which will have the potential to satisfy his/her need and has the potential of giving maximum value. He/She will start looking for reading material, talking to friends, searching online and visiting stores to learn about the products.

 

EVALUATION OF ALTERNATIVES :

Once he gathers all information about the product, he will list down the alternatives and evaluate them on the basis of maximum value proposition.

 

PURCHASE DECISION :

After evaluating the alternatives, he will select the one with the potential to satisfy all he needs better that the others. 

 

POST PURCHASE :

Buying process does not get over on purchasing the product. Marketers are always interested to know whether the product is giving value to the customer or not. If the customer is dissatisfied, then the chances of him never buying the same product again is very high, and this exactly what brands want to avoid. On the other hand if the customer likes the product, he will become the evangelist and tell others about the same.

 

RED BULL buying decision :

1. A need for energising body and surviving sleep will give rise to urge for a product satisfying these needs. The customer know why he wants an energy drink, but he still does not know which brand to buy.
2. He will begin his search by asking around and through various online sites.
3. He will list down names of the brand which promise he potential to provide value. Red Bull, Monster, Burn, Tzinga, Glucose-D, Chilly Willy, Cloud-9, Tang etc. from these he will start to narrow down the one alternative.
4. After thorough evaluation, he will decide to buy Red Bull because of the high perceived value attached with it.
5. If Red Bull satisfies him completely, he will buy it again and will also tell others about it.