CB Final by KKD

AN PRESENTATION ON CONSUMER DECISION MAKING PROCESS CP-3201 (CONSUMER BEHAVIOUR): 

AN PRESENTATION ON CONSUMER DECISION MAKING PROCESS CP-3201 (CONSUMER BEHAVIOUR) Presented to Presented by Amit Kumar Das Krishna Kanta Dutta(60) Assistant professor , DBA-JNSMS Kailash Khandelia (61) Assam University Debojit Deb(62)

The consumer decision process: 

The consumer decision process What? This or that? Whether to Buy the Product or not? What Feature (versus price) trade-offs to Accept? Which Brand to Buy? Where to Buy it from? ………………..?????????????? And in Deciding on all this, How Much Effort to Put In? The CDP represents a road map of consumers’ minds that marketers and managers can use to help guide product mix, communications, and sales strategies.

The Consumer Decision Model : 

The Consumer Decision Model A consumer decision model is a means of describing the processes that consumers go through before, during, and after making a purchase (choice ). A model shows the causes or antecedents(origin of some thing existing) of a particular behavior and each of its results or consequences.

Consumer Decision-Making Process: 

Consumer Decision-Making Process A five-step process used by consumers when buying goods or services.

Consumer Decision-Making Process: 

5 Consumer Decision-Making Process Postpurchase Behavior Purchase Evaluation of Alternatives Information Search Need Recognition Cultural, Social, Individual and Psychological Factors affect all steps

Need recognition: 

Need recognition When an individual realise that there is a difference between actual and desired states then he recognised the NEED…… The higher the gap, the stronger the need (or bigger the problem ) Consumers recognize needs and seek to fulfill them, or seek a product to solve their problems Knowing consumers’ needs helps firms develop products and marketing programs to reach them more effectively

PowerPoint Presentation: 

Need recognition Individual differences - Consumer resources - Motivation - Knowledge - Attitudes - Personality, values and lifestyle Environmental Influences - Culture - Social class - Personal influence - Family - Situation MEMORY Need recognition

Information Searches: 

Information Searches Process of recalling past information stored in the memory. Internal Process of seeking information in the outside environment. External

Information Search: 

Information Search External Information search Seek information in outside environment Non-marketing controlled Marketing controlled A customer can obtain information from several sources: Personal sources : family, friends, neighbours etc Commercial sources : advertising; salespeople; retailers; dealers; packaging; point-of-sale displays Public sources : newspapers, radio, television, consumer organizations'; specialist magazines Experiential sources : handling, examining, using the product

PowerPoint Presentation: 

External Search: Sources of information Marketer dominated Advertising Salespeople Infomercials Websites Point-of-sales materials Non-marketer dominated stimuli Friends Family Opinion leaders Media

Evaluation of Alternatives Evoked Set: 

Evaluation of Alternatives Evoked Set Group of brands, resulting from an information search, from which a buyer can choose.

Evaluation of Alternatives: 

Evoked Set Purchase! Evaluation of Products Analyze product attributes Use cutoff criteria Rank attributes by importance Evaluation of Alternatives

Five Factors influencing Decisions: 

Five Factors influencing Decisions 1. Level of consumer involvement 2. Length of time to make decision 3. Cost of good or service 4. Degree of information search 5. Number of alternatives considered

A. Routine Response Behavior: 

A. Routine Response Behavior Little involvement in selection process Frequently purchased low cost goods May stick with one brand Buy first/evaluate later Quick decision Types of Consumer Buying Decisions

B. Limited Decision Making: 

B. Limited Decision Making Low levels of involvement Low to moderate cost goods Evaluation of a few alternative brands Short to moderate time to decide

C. Extensive Decision Making: 

C. Extensive Decision Making High levels of involvement High cost goods Evaluation of many brands Long time to decide May experience cognitive dissonance

PowerPoint Presentation: 

The decision-making process