BUS630: Consumer Behavior

5a. Identify the stages of the decision process that result in the selection of one product over competing options

• Why might consumers choose one product over another?
• What is the decision process for choosing a product?
• What is the ABC Model of Attitudes?

As a consumer, why would we choose one product over another? At times, many options are available to us, and choosing one can take a lot of time. After researching, a consumer may decide one product is better than another and purchase that product.

The consumer decision-making process is complex and may vary depending on the individual. The steps may include recognizing the need, conducting an information search, evaluating different alternative products, selecting and purchasing the product, any post-purchase behavior, which may include returning the product, and potentially any disposal options in the future.

Above, we mentioned the ABC Model of Attitudes, which includes affective, behavioral, and cognitive factors. These consumer attitude situations may help strengthen attitudes about a product or service.

To review, see Consumer Decision-Making Process and Understanding the Consumer Decision-Making Process.

 

5b. Explain how our access to online sources is changing the way we decide what to buy

• Does the internet help or hurt the consumer decision-making process? Why?
• Does the quality of online resources matter when a consumer decides to buy a product?
• How can online sources help the marketer to develop marketing for a product?

Changing attitudes, social media, social influence, and the internet have changed how we buy products. The internet allows for faster information about the product; the consumer can read product reviews, and we can check out competing products to see if one is better. We also have faster shipping than we did a decade ago. All of these considerations may play into the consumer buying decision.

The quality of online resources must also be questioned. If all the product information only comes from the manufacturer or seller, how accurate or reliable is that information? Product reviews must also be considered for honest feedback and information, especially when the person leaving the review may receive the product for free or at a discount. Their feedback and honest review may be questionable. Social influence is another aspect of marketing and the internet today, and social influencers give their own reviews that may be tainted because they receive the product for free. The quality of such reviews should also be questioned.

As a marketer, online sources can also help to promote the selling of a product. Many websites now include blogs from experts at that company and information about the products they sell. In a sense, the companies establish themselves as the experts in their products.

To review, see Consumer Decision-Making Process and Understanding the Consumer Decision-Making Process.

 

5c. Evaluate how consumers rely upon different decision rules when evaluating competing options

• What considerations might a consumer make before purchasing a product?
• Why might a consumer choose one product over another?
• Do consumers consciously go through a purchase decision process?

Before buying a product, a consumer may review several options before making a purchase. They may look at reviews, go to a consumer advocacy website for information, ask friends or family for their opinions, or just buy a product, knowing they can return it later if it doesn't meet their needs. Consumer purchase regret occurs after purchase and may result in a return or an unhappy customer.

The process of choosing one product over another can be complicated. If there's only one option, it makes the process easier. Most of the time, however, ten or more options may be available. Reviewing the different features may be one way to differentiate between two products. But what happens when the products have the same features? When this happens, it may come down to price or how fast a company can ship the item. As you can see, the whole process is complex and may depend on many different decisions.

To review, see Consumer Repurchase Behaviors of Smartphones and Determinants of Consumer Attitudes.

5d. Explain the importance of understanding consumer evaluations of a product both before and after purchase

• Why would it be important to consider how a consumer evaluates a product?
• Is it possible that a consumer is more excited about a product after they receive it?
• Is there a difference in attitude about a product before and after purchase?

Imagine this: a consumer hears about a new product and immediately gets excited. They go through the process of researching and speaking to friends about the purchase and then place their order. The product arrives, and they go through the steps of setting it up. As they begin to use the product, they get excited about its use, and consumer satisfaction may begin. When a customer has a good or bad purchasing situation, these may be determinants of consumer attitudes.

It's possible that they're more excited now than they were when they first heard about the product. Or their attitude toward the product may deflate after using the product. If the product lives up to their standards, and they enjoy it, they may tell a dozen people about their experience or leave a review.

These consumer evaluations of products may affect the entire consumer decision process when making a purchase. This is why marketing has changed quite a bit over the last few decades. It is more specific and targeted to the consumer interested in buying products.

To review, see Consumer Repurchase Behaviors of Smartphones and Determinants of Consumer Attitudes.

 

Unit 5 Vocabulary

This vocabulary list includes terms you will need to know to successfully complete the final exam.

• consumer evaluations
• consumer purchase regret
• consumer satisfaction
• determinants of consumer attitudes
• post-purchase
• product reviews
• social influence