Purchase Decision Making Process

Purchase Decision Making Process

1. Steps: 1)Pre-Purchase 2)Purchase 3)Post-Purchase

   • High Involvement
     • include those involving high expenditure or personal risk – for example buying a house, a car or making investments.
       • Step 1: Pre-Purchase
         • In this stage, the consumer identifies he has a need, and a product to buy. Then the consumer gathers abundant information from several alternatives, since it is a high impact purchase, also probably very high investment purchase
           • Step 2: Purchase
             • After a vigorous evaluation the consumer purchases the best suitable product for himself
               • Step 3:Post-Purchase
                 • If the product is everything the consumer was looking for, the purchase was sucessfull, and consumer enjoys the usage of the product. If the product failed to satisfy the consumers needs, the consumer feels "buyers remorse", or postpurchase dissonance. when a product or service does not meet your expectation
     • Products that carry a high price tag or high level of risk for the individual or group making the decision
   • Low Involvement
     • Products that carry a low risk of failure or have a low price tag for a specific individual or group making the decision
       • (e.g. buying a soft drink, choosing some breakfast cereals in the supermarket) have very simple evaluation processes.
         • 3 Types
           • Simple
             • Step 1: Pre-Purchase
               • Consumer identifies a simple, not risky need.
                 • Step 2: Purchase
                   • Consumer purchases the product
                     • Step 3: Post-Purchase
                       • If satisfied, consumer may think of purchasing the same product again.
           • Loyalty
             • Step 1: Pre-Purchase
               • The consumer already knows the product he wants and the brand he has on its mind.
                 • Step 2: Purchase
                   • Consumer purchases the product
                     • Step 3: Post-Purchase
                       • After purchase, consumer is satisfied and prepared to buy again soon.
           • Impulse
             • Step 1: Pre-Purchase
               • The consumer is strongly influenced by a passive learnind source. An Ad, promotion, Visual Merchandising or Word of Mouth recomendation
                 • Step 2: Purchase
                   • Consumer purchases the product
                     • Step 3:Post-Purchase
                       • After purchase, consumer may or may not be satisfied, may or never repurhase again