Consumer Decision Process - Essay Example

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Consumer Decision Process

Consumer decision process is complex and is affected by several factors. In this paper the factors affecting consumer decision process are examined with the help of an actual purchase situation of a vacation and well supplanted with theoretical support.
Grounding Theory
There is a five step process in the consumer buying process: need recognition, information search, alternative evaluation, purchase decision, and post purchase evaluation. Consumers can go through three types of decision-making. The first is routine decision-making which is used when the purchase is simple, inexpensive, and familiar. Another is called limited decision-making. The consumer uses this type when decision-making involves a moderate search and purchasing effort. The final decision-making process is referred to as extensive and is used when the product is unfamiliar or very significant to consumers. Consumers may search for brand and outlets in combinations (Hawkins et.al, 1983). Most consumers are influenced by various groups in the decision-making buying process. Consumer choices are nested and interlocked across the assorted contexts of daily life (e.g., First and Dholakia 1982; Huffman, Ratneshwar, and Mick 2000).We examine these contexts in following paragraphs.
Demographic Influences
Demographic and economic descriptors of a market are often helpful but insufficient to explain what is purchased by consumers. ...
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Summary

Consumer buying behavior essentially refers to the buying behavior of final consumers - generally stated to include all categories individuals & households - who buy goods and services for personal consumption. These final consumers add up to form the consumer market…
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