The Consumer decision making process - Essay Example

The consumer Decision Making Process Introduction One of the key criteria for the development of effective marketing plans is the understanding ofconsumer behaviour. When having to develop a buying decision, consumers tend to take into consideration a series of issues. Moreover, it has been proved that when buying a product/ service consumers tend to follow a ‘decision making process’ (Lamb, Hair & McDaniel 2011, p.189). This process is consisted by five steps, such as ‘recognition, information search, evaluation of alternatives, purchase decision and post-purchase behaviour’ (Lamb, Hair & McDaniel 2011, p.189). The various aspects of the Consumer Decision Making process are analysed in this paper.

Reference is also made to the potential challenges that this process can set for marketers. It should be noted that a particular case has been used as an example for understanding the various phases of the process: if an individual would have to decide to buy a newspaper would he use different criteria, in the context of the above process, than if he would have to decide to buy a house?2. The Consumer Decision Making Process (CDMP)2.1 Problem recognitionIn the context of the first phase of the CDMP, the needs of the consumer in the particular point of time have to be identified (Varey 2002, p.56). In the question under examination, the potential buyer of a newspaper will realize his need to buy the newspaper; in the same context, the potential buyer of a house will realize his need to buy a house. 2.2 Information searchAfter realizing the need for buying a product/ service, the consumer has to start searching for the particular product/ service (Burrow & Bosiljevac 2011, p.106). In practice, the above phase can be understood through the following example: the individual who is interested in buying a newspaper needs to search for a newspapers stand.

An individual who is interested in buying a house has to visit a real estate agent or start checking advertisements for houses.2.3 Evaluation of alternativesIn this phase of the process, ‘the alternatives available are evaluated’ (Burrow & Bosiljevac 2011, p.106). At this level, it is possible for a consumer to use different criteria for his buying decisions when different needs are in place (Varey 2002, p.56); for example, for buying a newspaper a criterion of quality/ content and price will be used.

For buying a house price can be a leading criterion, depending on the financial status of the buyer. In the case of the house its ability to keep its quality standardized in the long term can be also a priority, according to the criteria set by the buyer.2.4 Purchase decisionIn this phase, the consumer needs to purchase the product/ service (Lantos 2010, p.69). This decision is taken according to the assumptions made during the previous phase, the evaluation of alternatives phase (Lantos 2010, p.69). However, the decision that the consumer makes in this phase may be different from that he would like to make (Lantos 2010, p.69). For example, a consumer may wishes to buy an apartment near the centre of the town since such decision would be aligned with his needs; however, he may ends to buy an apartment far from the centre as this apartment is offered at a lower price.2.5 Post-purchase behaviourThe post-purchase behaviour indicates the level at which a consumer is satisfied from the product/ service he bought (Lantos 2010, p.69). For marketers, post-purchase behaviour is particularly important showing the level at which the product/ service has managed to respond to the needs of consumers.

For example, the receive of numerous complaints for a product that has already been sold to thousands of consumers can destroy the firm’s image in the market (Lantos 2010, p.69); such problem can also cause severe financial damages to the organization, in the form of compensation for the damages caused to consumers (Pride & Ferrell 2012, p.45). In the question set in this paper, the dissatisfaction of a consumer after he bought a newspaper, can be easily addressed; for example, if certain of the newspaper’s pages were not readable or were missing the consumer can be given another newspaper.

In the case of the house, the implications can be many. It is quite difficult for the consumer to be compensated for potential failures of the house or for violations of the terms of the contract by the side of the seller (Pride & Ferrell 2012, p.45).3. ConclusionThe development of successful buying decisions can be quite difficult for consumers no matter their social or financial status. In fact, it seems that the buying process can hide many risks. Consumers can effectively address this problem by using the Consumer Decision Making Process model, as analysed above.

The specific model covers all potential phases of buying decisions and can be used in all markets and industries, a fact that it can be considered as one of its major benefits. Through the issues discussed above it has been made clear that the level at which the CDMP is used is depended on the consumer’s willingness to set a series of standards in regard to its needs. If such standards are not set, then the effectiveness of the process will be limited leading to the increase of the exposure of the consumer to massive marketing messages.

In this case, the decision of the consumer to buy a product/ service, when taken, is expected to be faulty, either fully or partially.ReferencesBurrow, J. & Bosiljevac, J. (2011). Marketing. Belmont: Cengage Learning.Lamb, C., Hair, J. & McDaniel, C. (2011). Essentials of Marketing. Belmont: Cengage Learning.Lantos, G. (2010). Consumer Behavior in Action: Real-Life Applications for Marketing Managers. New York: M.E. Sharpe.Pride, W. & Ferrell, O. (2012). Foundations of Marketing. Belmont: Cengage Learning.Varey, R. (2002).

Marketing Communication: An Introduction to Contemporary Issues. London: Routledge.