How do consumers

makePurchasing Decisions ?

Problem Recognition..

Needs are triggered by internal or external stimuli

Information Search..

Heightened attentionPerson becomes more receptive to information about a product

Active information search

Looking for reading material, phoning friends and visiting store

to learn about the product

InformationSource

•Personal•Commercial•Public•Experimental

Market positioningProcess of identifying the hierarchy of

attributes that guide consumers decision making Total Set

Awareness set

Consideration set

Choice set

DECISION

Evaluation..

Evaluation of alternatives :-The consumer is trying to

satisfy a need

Consumer is looking for certain benefits from the

product solution

Consumer sees each product as a bundle of attributes with

varying ability to deliver benefits

Points that consumers evaluate products and

services by combining their brand beliefs- the positive and negative according to

their importance

Purchase Decision..

HeuristicsConjunctive heuristicSets a minimum acceptable cut off level for each attribute and chooses the first alternative that meets the minimum standard for allLexicographic heuristic

Choosing best brand on the basis of its best perceived attribute

Elimination by aspects heuristicCompares brand on an attribute selected randomly

Post purchase behaviour..

Post purchase satisfaction

Makes a difference in

whether consumer buys the product

again and recommends it to

other

Post purchase

action

Post purchase use and disposal

Key driver of sales frequency. Product consumption rate

Aayush NayakUIT-RGPV, Bhopal, during

an internship by

Created By-

Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com