Decision-Making Process in Consumer Behavior

Decision Making

Consumer decision process leads to the embankment of marginal profits of any investment in a given market depending upon the level of awareness of a potential customer, brewing market trends and swirling expectations to meet certain demands. The phenomenon is also very important in hinging any level of comfort that a customer is seeking for and also in the rolling in of positive feedback. As a matter of fact, customers/consumers go through a spontaneous thought process to finally arrive at some narrowed down approach, making the choice worth taken, and at last taking it. There are numerous implications of consumer's behavior. Hence it's noticeably affirmative to a Marketer to identify the surging needs of the market and exercise the real repositioning with some level of satisfaction and criticality.

The Buying Decision Process- Five Stage Model

Considering the general etiquette of a customer in leading to any final decision of buying a product or service, the underlying thought process could speak for adequate addressing. A Five-stage model helps to determine the impulses that a customer experiences whilst going through the buying decision process (Kotler, Keller, Koshi & Jha, 2009). The model is comprised of problem recognition, Information search, Evaluation of alternatives, purchase decision and post purchase behavior and other such recurring behaviors.

Problem Recognition

As Kotler & Keller (2009) think," The buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli; with an internal stimulus, one of the person's normal needs - hunger, thirst, sex- rises to a threshold level and becomes a driver; or a need can be aroused by an external stimulus." A Problem sources the need and the need culminates into the urge of buying. A Customer, as to meet a certain social status or sufficing any wants, would find it a conscious or subconscious devoir to look out for the ramifications, in a response to the stimuli of buying or using something.

Information Search

This second stage of the model entails a customer's spontaneous response to the feedback of the first stage. In this phase, a customer may look out for sifting information resources on internet and he or she may talk to friends or colleagues, read news paper or articles or meet a sales person through a reference. The anticipated objective of the whole effort is to remove any clutter, as a remnant of the first stage, from the process of decision making.

Evaluation of Alternatives

Once choices and alternatives become clear on a certain level, the next stage is to weigh different substitutes on a particular scale. The scale is usually on the discretion of a customer and it helps to prioritize the actual particularities of a need. This behavior fine lines the possible outcomes of a certain decision and establishes preferences.

Purchase Decision

While taking a purchase decision, a consumer/customer may make up to five sub-decisions such as choosing a particular brand, dealer, quantity, timing and payment method (Kotler, et. all, 2009, pg. 164). A consumer in this phase may also think of modifying, postponing or avoiding a purchase decision. This is always influenced by some degree of perceived risk which could be functional, physical, financial, social, and psychological and of time.