Consumer Behavior and Buying Process Quiz

Study Notes

First Stage: Problem Recognition
- Occurs when a consumer identifies a need or problem that requires resolution.
Marketing Focus at Problem Recognition
- Aims to create awareness of a gap between the consumer's current state and desired state, prompting them to seek solutions.
Second Stage: Information Search
- Involves gathering relevant information to find possible solutions or products that meet the recognized need.

Main Consideration in Criteria Stage
- Consumers assess products based on specific attributes, such as quality, price, and functionality.
Goal of 'Search for a Solution' Stage
- To identify all possible options available in the market that address the recognized need.
Importance of Persuasion During 'Evaluate Options'
- Marketing tools such as testimonials, reviews, and endorsements significantly influence consumer decisions across options.
Focus of 'Decide and Purchase' Stage
- Involves the consumer making the final choice and completing the transaction, emphasizing convenience and satisfaction.

'Buyer’s Remorse'
- Refers to feelings of regret or anxiety after making a purchase, often due to doubt about the choice made or the cost involved.
Internet Impact on Information Gathering
- Provides easy access to vast amounts of information, allowing consumers to compare products, read reviews, and make informed decisions quickly.
Impulse Buying
- A spontaneous purchase made without prior planning or consideration, often triggered by emotions or marketing stimuli.
Focus of 'Post Purchase Evaluation' Stage
- Consumers reflect on their purchase decision, evaluating satisfaction levels and overall product performance, affecting future buying behaviors.

Strategies to Avoid Impulse Buying
- Setting a budget before shopping, creating a shopping list, avoiding shopping when emotional, and seeking alternatives to shopping for entertainment.