Consumer Purchase Decision Process

Purchase Decision:

A buying decision process or a purchase decision process as commonly known describes the various stages that a customer goes through before making a final decision of making the purchase or buying the product. Over the years many researchers have put this purchase decision model through a lot of interpretations. Although there are mainly 5 stages through which a customer goes through before making the final decision to purchase the product.

a) 5 Stages of Purchase decision Model

1. Need Recognition: this is the first stage of the entire model where the need of a particular product or service is recognized by the customer or the user. This recognition happens when there is a gap between the customer’s actual situation and

Each consumer is different in how they make purchase decisions, depending on the variables like family, income, occupation, status and their role in decision process. It is indeed important for marketers to understand the behavior of consumers, which leads to purchase decision. Change in consumer attitude is of paramount importance to marketers who consumer focused often is customizing the product to match the tastes and preference of the consumers by proper positioning and targeting strategies. The research paper by Rani. J focuses to study the consumers purchase, tenure and usage of Refrigerators to understand in-depth of consumers purchase pattern resulting in framing right strategies to acquire new customers, enhance loyal customers, and compete with competitors. According to the paper, the refrigerator is the third heaviest guzzler of power amongst household appliances. Refrigerators have increasingly been finding their way into Indian homes. Refrigerator market in India is one of the fastest growing segments of the consumer durable industry and is witnessing significant growth on account of rising per capita income and improved social indicators. Increasing role of the government to support FDI in India and easy availability of financing also drives the industry. Retailing is gradually inching its way towards becoming the next boom industry in India. The consumer decision-making process is a complex

The company must focus on understanding what the customers need are and what they want. It is very important to understand how customers perceive “Whirlpool Electronics Ireland” and its products? What notion do they have about the company when they come across its products as compared to the competitors that are there in the Irish market such as LG, Samsung, and Hitachi etc.? This will help the company to know in a much better way to assess the demand of the market. Few antecedents like energy saving, functional and durability attributes should be considered and reviewed before a new product is launched in the