Tuesday, October 28, 2014

Consumer Behavior & The Consumer Decision Making Process


I accidentally stumbled upon this video when I was looking for information about consumer behaviour. First I thought it was a bit unprofessional how the video was made so I thought the video probably isn’t too good but I’m glad I continued watching it because I think it is very good.
I always thought it’s hard to predict what the customer is going to do or what they’re thinking and this is the first I’ve seen or heard about people bringing up the fact that people aren’t always predictable or logical.  Even so doing good research is crucial because you need to know your customer/consumer as good as possible to know as much about them and their needs as possible.

In this video he divides the Consumer Decision Making Process in 5 steps;
  1. Need recognition. – Functional needs and psychological need. You need to determine needs and wants. To make people want to buy more, you should make the consumer think a want is a need.
  2. Information search. Be easily available, for example online. Is the research worth the effort?
  3. Alternative evaluation.  The characteristics that make the difference between different alternatives. 
  4. Purchase. The actual transaction.
  5. Post purchase.  Develop and build customer loyalty to make sure the customers come back.


I    I think the video is very interesting and I that we have started to work with some of these steps already during this course. 

/Mary

https://www.youtube.com/watch?v=65Vt9nmVYDM

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