What Is Consumer Behaviour | Purchase Decision Process | Explained & Examples πŸ‘šπŸ₯ΎπŸ‘”πŸ‘—πŸ‘’πŸ§³πŸ‘ž

Solve It Like A Marketer
27 Apr 202005:13

Summary

TLDRThis video discusses the importance of consumer behavior in marketing strategies, focusing on the five stages of the purchase decision process: problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior. It emphasizes understanding consumers' emotional and psychological states, along with socio-cultural influences, to effectively engage them. The video encourages marketers to consider their products from a consumer's perspective and address post-purchase concerns to build customer loyalty. Viewers are invited to reflect on their marketing strategies and subscribe for more insights.

Takeaways

  • πŸ˜€ Consumer behavior is essential for a successful marketing strategy, focusing on why and how consumers make decisions.
  • πŸ›’ The purchase decision process consists of five stages: problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior.
  • πŸ’‘ Problem recognition occurs when a consumer identifies a need or want that is unfulfilled.
  • πŸ” The information search stage involves consumers seeking options through internal memory or external sources like friends and social media.
  • βš–οΈ In the alternative evaluation stage, consumers compare brands, prices, and reliability, especially for significant purchases.
  • πŸ›οΈ The purchase decision is influenced by product alternatives and potential seller incentives, with consumers considering when and from whom to buy.
  • πŸ€” Post-purchase behavior includes feelings of anxiety or cognitive dissonance, particularly after significant purchases.
  • πŸ“ž Addressing post-purchase behavior is crucial for marketers to alleviate consumer anxiety and foster loyalty.
  • πŸ“ˆ Marketers should think like consumers and analyze how their products meet consumer needs during the purchase decision process.
  • πŸ“… Regular engagement with consumers through follow-up and targeted marketing can enhance customer loyalty and satisfaction.

Q & A

  • What is consumer behavior?

    -Consumer behavior refers to the study of how individuals or groups make decisions about purchasing, using, and disposing of products and services.

  • Why is understanding consumer behavior important for marketers?

    -Understanding consumer behavior is crucial for developing effective marketing strategies that resonate with consumers and drive sales.

  • What is the purchase decision process?

    -The purchase decision process consists of five stages: problem recognition, information search, alternative evaluation, purchase decision, and post-purchase behavior.

  • What occurs during the problem recognition stage?

    -Problem recognition happens when a consumer realizes a need or want that is unfulfilled, such as running out of toothpaste or being influenced by a marketing campaign.

  • What are the two types of information searches a consumer might conduct?

    -Consumers may perform an internal search by recalling past experiences or an external search by consulting friends or social media.

  • What factors do consumers evaluate during the alternative evaluation stage?

    -During this stage, consumers compare different brands based on price, usability, and reliability, especially for significant purchases.

  • What influences a consumer's purchase decision?

    -The purchase decision can be influenced by product alternatives, seller incentives, and timing of the purchase.

  • What is post-purchase behavior?

    -Post-purchase behavior involves the consumer's feelings and actions after making a purchase, which can include anxiety or cognitive dissonance about whether they made the right choice.

  • How can marketers address post-purchase anxiety?

    -Marketers can alleviate post-purchase anxiety by implementing strong customer service follow-up policies and targeted marketing efforts towards previous buyers.

  • What challenge does the speaker pose to marketers in the video?

    -The speaker challenges marketers to think like consumers and analyze whether they would choose their own product or service over competitors, as well as how they address post-purchase behavior.

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Related Tags
Consumer BehaviorMarketing StrategyPurchase ProcessPsychologySociologyCustomer ExperienceCognitive DissonanceEmotional InfluenceBrand LoyaltyDecision Making