Consumer Buying Decision
Consumer purchase decision may appear random at times as a person goes to the market to buy groceries. But whether it is a low involvement product (LIP) like a jar of mayonnaise or a high involvement product (HIP) like a house, the consumer will usually go through five stages of purchase decision which are less pronounced in the case of LIP than it would for a HIP.
A low involvement product is defined as "a product where the process of searching for information is minimal, without distinct brand loyalties." (Grebitus, p. 43) A hair brush, beauty soap, a bath towel for example would all be low involvement purchases. They do not require considerable amount of effort, energy or money and hence even if the decision goes wrong, it won't have a significant effect on the consumer.
A high involvement product on the other hand is the one which is likely to involve considerable amount of planning and thinking and which has a higher significance and relevance to the consumer's social status and personal needs. A car or a house would thus be characterized as high involvement purchases. It must be borne in mind that a HIP would usually have three characteristics:
1. It is expensive
2. It can have consequences
3. It has a bearing on a person's social status
The five stages of consumer buying decision would however apply to both the LIP and HIP but to different extent. As we learn more about these five stages, we shall also look into the extent to which each stage plays a role in the purchase of low or high involvement. In our case, we have chosen razor as a LIP and a car as a HIP.
IDENTIFYING A NEED:
The first stage is identification of a need for...
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