Buying Decision Making Process

BUYING DECISION PROCESS:

A buying decision process describes the process a customer goes through when buying a product. Consumer goes through various stages before buying any product or it could be that for some products which they start using it on regular basis doesn’t always pass through all five stages, they may skip or reverse some.

Consumer’s buying behavior and resulting purchase decision are strongly  influenced by many factors  such as -

Cultural factors include consumer’s culture, sub culture and social class. These factors are often inherent in our value and decision processes.

Social factors include groups, family, roles and status. This explains the outside influences of others on purchase decision either directly or indirectly.

Personal factors include variable such as age and lifecycle stage, occupation, economic circumstances, lifestyle, personality, self concept. These may explain why our preferences often change as our situation changes.

Psychological factors include affecting our purchase decision include motivation, perception, learning, beliefs and attitudes.

There are 5 stages which a consumer often goes through when he/she around their Purchase. These stages also exist because of normal human psychology.