Stages of consumer buying process

Stages of consumer Buying Process.

1.  Need Recognition: The buying process starts when the consumer recognizes a need. It is a point where a potential buyer determines that they have an unfulfilled need want or desire. The recognition may result from internal stimuli such as hunger and thirst. It can also be activated by external stimuli such as an advertisement or even a suggestion from someone. In addition, the recognition may result from a combination of stimuli. Hence, activated or recognized needs drives the consumers to buy products. For instance the recognition of thirst may lead a consumer to buy a bottle of water.


2. Information Search: If the potential consumer continues beyond the problem recognition stage, they will begin an information search about products. Information search is the stage in the buyer decision process in which the consumer is aroused to search for more information. The information can be about features, advantages and benefits of the products. This stage identifies product alternatives through:
   a. Internal search: An information search in which buyers search their memories for information about products that might solve their problem
   b. external Search: An information search in which buyers seek information from outside sources. Such as:
                   Personal sources: family, friends, relatives, associates.
                   Market sources: Advertising, sales force, middleman.
                  Public sources: media like newspaper internet government.
                  Experiential Sources: handling, examining, testing the product by the consumer.
   In addition, the time spent of information search depends on low involvement or high involvement nature of buying decision.
   
3. Evaluation of alternatives: A successful information search yields a group of brands (products) that a buyer views as possible alternatives. In this stage, the consumer evaluates the different alternatives which the consumer comes across, when the consumer was searching for information. Generally in the information search the consumer comes across quite a few products and thus now the consumer has to evaluate and understand which product would be properly suited for the consumer. In other words, after getting the required knowledge about the product the consumer evaluate the various alternatives on the basis of its want satisfying power, quality and its features
   
4. Purchase decision: In this stage the consumer chooses the product or brand to be bought. Generally the purchase decision is influenced by:
   payment method, warranties, delivery, after sales service and installation,
   purchase intention developed during evaluation of alternatives
   social influences from family, friends and co works
   situational factors that increase the level of risk
   
5. Post purchase behavior: After the purchase, buyers undergo an evaluation of the purchase decision.  Does the product meet expectations with regard to performance? Post purchase behavior refers to all behavior, positive and negative, that is generated from the purchase. After purchasing the product, the consumer may be satisfied or dissatisfied. If performance exceeds expectations, the consumer is delighted. When consumers experience anxiety over their purchase decision it is called cognitive dissonance. Cognitive dissonance is a buyer's thought shortly after a purchase about whether the decision was the right one.