Types of Buying Decision Behavior.docx

**[Types of Buying Decision Behavior]** 1. **Complex**: When shoppers care and see big differences between brands. 2. **Reducing**: Shoppers are interested but don't see many differences between brands. 3. **Habitual**: Low interest and few differences those people buy out of habit...

**[Types of Buying Decision Behavior]** 1. **Complex**: When shoppers care and see big differences between brands. 2. **Reducing**: Shoppers are interested but don't see many differences between brands. 3. **Habitual**: Low interest and few differences those people buy out of habit. 4. **Seeking**: Low interest but clear brand differences; people change brands for variety. **[The Buyer Decision Process]** 1. The buyer notices a need or want. 2. The buyer looks for information about product. 3. The buyer compares different products or brands. 4. The buyer chooses a product to buy. 5. The buyer thinks about their choice. **[The Buyer Decision Process for New Products]** 1. **Awareness: The buyer learns about the new product.** 2. **Interest: The buyer becomes interested and looks for more info.** 3. **Evaluation: The buyer checks the product's benefits and features.** 4. **Trial: The buyer tries the product, often through samples or low-cost options.** 5. **Adoption: The buyer chooses to use the product orderly.** **[Consumer Markets and Buyer Behavior]** **Markets**: Places where people buy things for their personal use.\ **Influences**: culture, social groups, personal preferences, and feelings affect buying decisions. **[PESTEL Analysis]** 1. **Political: Government rules.** 2. **Economic: Economic growth.** 3. **Social: Cultural trends.** 4. **Technological: tech progress.** 5. **Environmental: sustainability.** 6. **Legal: Laws and rules.** **BCG Matrix** 1. **Stars**: High market share and high growth rate. 2. **Cash Cows**: High market share but low growth. 3. **Question Marks**: Low market share but high growth. 4. **Dogs**: Low market share and low growth. **[Ansoff Matrix]** 1. **Market Penetration: Selling more.** 2. **Market Development: New places.** 3. **Product Development: New products.** 4. **Diversification: New things in new places.** **[Product Growth Steps]** 1. **Introduction: Launch the product and make people aware of it.** 2. **Growth: Sell more and get more customers.** 3. **Maturity: Sales slow down make your product different.** 4. **Decline: decide to stop or change the product.** **[How a Company Can Grow]** 1. **Make marketing and customer service better** 2. **Make new products** 3. **Sell in other countries** 4. **Work with other companies** **[How to Market the Product]** 1. **Find out who the customers are and what they want.** 2. **Show what makes the product special.** 3. **Use different ways, like social media and ads, to tell people about it.** 4. **Make sure the product is available where customers can buy it.** [**Marketing Factors Influencing Behavior**:] 1. **Product Quality: Good quality makes people trust the product and see it as valuable.** 2. **Brand Image: A strong brand can affect what people choose to buy.** 3. **Price: Setting a good price can bring in more customers.** 4. **Promotions: Good sales and deals.** 5. **Customer Experience: Happy customers are likely to buy again** **[New Product Launch]** 1. **Market Research: Do research to find out what people want.** 2. **Product Development: Make a product that fits what customers need.** 3. **Testing: Try the product with a small group of people and ask for their opinions.** 4. **Marketing Strategy: Create a clear plan for how to promote the product when it launches.** **FASTEL Analysis** 1. **Collect Data**: Get info about the market and other businesses. 2. **Look for Trends**: See what\'s changing in technology, money, and what people want. 3. **Check Competitors**: Find out what other companies do and how well they do it. 4. **SWOT Analysis**: List what is good, what is bad, new chances, and risks based on your info.