Purchasing Decision of Consumer-Free-Samples-Myassignmenthelp.com

Question: How Do Consumers Make Purchasing Decisions? Answer: To review the article, it can be said that while buying something which product to choose, this is the most important question that arises in the mind of the consumer and all the professionals in the marketing field wants to know the answer, or to predict it. This is the main purpose of this essay. The professionals know that if they get the answer they would be able to create more chances to make products whose salability would be at the top and the productivity of the organization would touch the limits. The behavior of the consumers while purchasing consists of various important factors and those are situational, social and most importantly psychosocial (Reeder 2014). The experts have nodded in agreement when some of them proposed that the decision making process in the minds of the purchasers have six important steps and those steps are provided in this section of this essay. Need recognition It can be said that when there is a need of something the customer will choose that product regardless of the surrounding factors. For an example, for a traveler, if his backpack is lost, he would eagerly wait and buy a backpack for himself without considering any other things. Product information In this stage, according to Popescu (2015) the purchaser will survey the market and will choose the correct brand as he would definitely want to buy the best product of the most reputed brand in the market. For this the purchaser will have to research a bit online or by visiting the stores himself or herself. In todays market the purchaser can easily go for the review section in the popular shopping portals and get his or her query done. In this context, t is worth mentioning that a new retailing strategy has become very successful implemented by Best Buy. With this new approach they have already increased 8.4 percent profitability and in this way they have gathered huge customer satisfaction along with huge boost in the profitability for the organization. Evaluation of the product After choosing the brand, the next step has to be evaluating the product and comparing it with the other products of that particular brand to get the best result and the best product obviously. For an example, it can be said that, before buying the backpack, the customer should evaluate it properly with the other backpacks regarding the common things like the number of pockets, the space and the grips of it and many other issues (Hamdan et al. 2013). The marketing professionals would require convincing their customers that this particular evaluation phase would prove that their product is the best among all. Product choice and purchasing In this step, the purchaser would finally choose the product that is good for him and might make some other purchasing related decisions like how to buy it and on what terms should he buy that particular product. For an example, as stated by Constantinides and Holleschovsky (2016) if he or she is going to purchase an expensive item, he or she should visit the store or the shopping portal where he or she can buy the good on the minimal pricing. Usage after the purchasing procedure In this step, after the purchasing the customer uses his product and somehow evaluates it with more scrutinizing ability while using it. At some points the buyer would be very happy with the product or might become sad and regretful for buying the product of any particular company that might have cheated him by not providing him with the right product. Disposal This is the final step and in this stage after using the product multiple times the owner might dispose it after the requirement is complete or the product is of no use for him. According to Hamdan et al. (2013) there are various factors that might affect the decision of the purchaser varying the physical, societal or any other aspects. At times if an individual finds any product that is very attractive and he might not need it but he ends up buying it that can be named as impulse buying. Whereas Constantinides and Holleschovsky (2016) stated that, at some times, there might be a small requirement of any product, but due to heavy pricing the individual might not go for it, rather discarding the requirement. Apart from this, society, time situation these are important factors that can potentially influence the buying behavior of the customer. Thus to conclude, it can be said that gathering the information of the customers regarding their shopping preferences has become a must activity for the marketing professionals in order to sustain in the league as nowadays the needs of the market is changing rapidly and to sustain in this market with heavy rivalry, they got to keep the necessary information of the purchaser regarding their decision making regarding buying a product in order to enhance their profitability. References Constantinides, E. and Holleschovsky, N.I., 2016. Impact of online product reviews on purchasing decisions. Hamdan, H., Issa, Z.M., Abu, N. and Jusoff, K., 2013. Purchasing decisions among Muslim consumers of processed halal food products.Journal of Food Products Marketing,19(1), pp.54-61.Ihsan, U., Hasiholan, L.B. and Malik, D., 2017. THE EFFECT OF THE PRODUCT, PRICE AND THE SATISFACATION OF SERVICE TO PURCHASING DECISIONS.Journal of Management,3(3). Popescu, I.V., 2015. Brand: a Simple Name or a Criterion in Purchasing Decisions?.Bucharest University of Economic Studies Publishing House, p.192. Reeder, J.C., 2014.Nonlinear price incentives and dynamic brand choice: B2B purchasing decisions with quantity discounts(Doctoral dissertation, University of Rochester). Setiya, K., Ubacht, J., Cunningham, S. and Oru, S., 2016, September. Business Intelligence from User Generated Content: Online Opinion Formation in Purchasing Decisions in High-Tech Markets. InConference on e-Business, e-Services and e-Society(pp. 505-521). Springer International Publishing.