Marketing is the process of promoting a product or service to be sold to the consumer and keep it selling indefinitely. This assignment will cover the different aspects of marketing from the purchase decision making process that consumers go through, to the theories and factors that influence the consumer’s behaviour when making a purchase. It will also evaluate the relationship between brand loyalty, corporate image and repeat purchasing and how they are all related.
When it comes to marketing, the most important factor that any business will need to consider is itself. When selling a product or service, the business will need to ensure its viable, otherwise it could lose the company ...view middle of the document...
Information search is the second step in the purchase decision making process. This information will help them decide on which product or service will help fulfil their need. The consumer can either gain information from both internal and external sources. Internal sources, is the knowledge that the consumer already has. They may have used the product, service or brand before and so they know what experience they can expect. External information is the knowledge obtained from friends, family, customer reviews or advertising. This information is usually used when the consumer has now prior knowledge and they need an idea of how it can fulfil their need.
After collecting the information needed, the next stage of the purchase decision making process is alternative evaluation. This is the stage where, after the information is collected, the consumer will then evaluate the product, service or brand to find out which is more suitable for them. They will evaluate the products, services or brands by their characteristics. Firstly, they will look at their objective characteristics, which are the features and functions of the product or brand. They will then evaluate the subjective characteristics, which is how the brand is perceived and its perceptions. There are sets that are personal to the consumer, each contain different products or brands that they would happily purchase which are the evoked set, and those that the consumer wouldn’t purchase which are the inept set. There is a third set which is the inert set. These are the products or brands that the consumer has no opinion on.
After evaluating each brand or product, they will then make a decision and purchase the product that they think is suitable to fulfil their need. This is the purchase decision stage of the process. The information that they collected earlier on in the process, will be what their decision is based on. If there wasn’t a need, there wouldn’t have been any need for the purchase.
After the fourth stage of the purchase decision making process, they will then move onto the post purchase, which is the final stage within the decision making process. Once the product has been purchased, the consumer may feel satisfaction and adequacy because their need was fulfilled. If the consumer is satisfied, they will know how to fulfil that particular need. So when it comes to the evaluation of alternatives, this product will be in the evoked set. However, if they are not fully satisfied, the whole process will begin again during their next purchase. Also, the product or brand will become part of the inept set as there would be an unlikely chance that they will purchase it again.
During the decision making process, businesses will want to analyse the buyer behaviour of the consumer. Cambridge Dictionary Online defines buyer behaviour as “the decision process and acts of people involved in buying and using products”. From this definition, its understood that buyer behaviour is the way in...