BUYER BEHAVIOUR
Buyer behaviour model
How does a consumer make a purchase decision? What are the factors that influence this process? How do these factors interact among themselves?
To explain in a very simple manner, say a boy feels thirsty. He wants a drink of water. While grabbing a bottle of water, his eyes fall on the bottle of Pepsi. Will he pick the Pepsi? What made his mother stock Pepsi at home? Was it meant for the kid or was it meant for the guests arriving at 4 p.m.
A large amount of work has been done in the area of buyer behaviour. Models have been developed to explain the various factors that influence purchase behaviour.
At the heart of any buyer behaviour model is the buying process:
Need recognition - Information research - Evaluation of alternatives - Selection of Brand and Outlet- Post-purchase Reactions
The first stage refers to the need recognition. This is basically what the consumer wants. What does the consumer needs? In the earlier example in can be explained as the need for quenching thirst.
The second stage refers to the information search. This basically involves your network, your sources. This will include what all drinks are available for quenching your thirst. This will include water, soft drinks, sherbets, etc.
The third stage refers to evaluation of alternatives. This will include all the alternatives you have and which of them is most promising in terms of your needs.
The fourth stage refers to selection of Brand and Outlet. This is basically out of the alternatives which brand have you selected to go in for and out of the various outlets available, from where you are planning to buy your selected product. This also includes buying the product.
The fifth or the last stage is the Post-purchase Reactions. This basically includes your reaction towards the product you purchased. This stage will show whether you are satisfied with the product or not.
Buyer behaviour model
How does a consumer make a purchase decision? What are the factors that influence this process? How do these factors interact among themselves?
To explain in a very simple manner, say a boy feels thirsty. He wants a drink of water. While grabbing a bottle of water, his eyes fall on the bottle of Pepsi. Will he pick the Pepsi? What made his mother stock Pepsi at home? Was it meant for the kid or was it meant for the guests arriving at 4 p.m.
A large amount of work has been done in the area of buyer behaviour. Models have been developed to explain the various factors that influence purchase behaviour.
At the heart of any buyer behaviour model is the buying process:
Need recognition - Information research - Evaluation of alternatives - Selection of Brand and Outlet- Post-purchase Reactions
The first stage refers to the need recognition. This is basically what the consumer wants. What does the consumer needs? In the earlier example in can be explained as the need for quenching thirst.
The second stage refers to the information search. This basically involves your network, your sources. This will include what all drinks are available for quenching your thirst. This will include water, soft drinks, sherbets, etc.
The third stage refers to evaluation of alternatives. This will include all the alternatives you have and which of them is most promising in terms of your needs.
The fourth stage refers to selection of Brand and Outlet. This is basically out of the alternatives which brand have you selected to go in for and out of the various outlets available, from where you are planning to buy your selected product. This also includes buying the product.
The fifth or the last stage is the Post-purchase Reactions. This basically includes your reaction towards the product you purchased. This stage will show whether you are satisfied with the product or not.