Buying Decision Process

                                Buying Process method

The buying call method is the decision-making method employed by customers relating to market transactions before, during, and after the purchase of a decent or service. It can be seen as a selected kind of a cost–benefit analysis within the presence of multiple alternatives.
The client shopping for method (also referred to as a shopping for call process) describes the journey your customer goes through before they purchase your product. Understanding your customer’s buying method is not solely important for your salespeople, it will conjointly alter you to align your sales strategy consequently.
The five stages framework remains a sensible thanks to measure the customer’s shopping for method. John Dewey first introduced the subsequent 5 stages in 1910:

  

 
1. Problem/need recognition-This is often known because the initial and most significant step within the customer’s call method. A purchase cannot happen without the popularity of the requirement. The need might are triggered by internal stimuli (such as hunger or thirst) or external stimuli (such as advertising or word of mouth).

2. Information search-Having recognized a problem or would like, the next step a customer might take is that the info search stage, in order to seek out out what they feel is that the best solution. This is the buyer’s effort to go looking internal and external business environments, in order to spot and evaluate info sources associated with the central shopping for call. Your customer might swear on print, visual, online media or word of mouth for getting info.

3. Evaluation of alternatives-As you might expect, individuals can measure totally different product or brands at this stage on the basis of other product attributes – those that have the power to deliver the advantages the client is seeking. A factor that heavily influences this stage is that the customer’s angle. Involvement is another factor that influences the analysis method. For example, if the customer’s attitude is positive and involvement is high, then they will measure variety of corporations or brands; however if it's low, only one company or whole are going to be evaluated.

4. Purchase decision -The penultimate stage is where the purchase takes place. Philip Kotler (2009) states that the final purchase call could also be ‘disrupted’ by 2 factors: feedback from alternative customers and also the level of motivation to just accept the feedback. For example, having gone through the previous three stages, a customer chooses to purchase a brand new telescope. However, because his terribly sensible friend, a keen astronomer, gives him negative feedback, he will then be sure to modification his preference. Furthermore, the decision could also be noncontinuous thanks to unforeseen things like a sharp job loss or relocation.

5. Post-purchase behaviour- In brief, customers can compare product with their previous expectations and will be either happy or disgruntled. Therefore, these stages are important in retentive customers. This can greatly have an effect on the choice method for similar purchases from identical company within the future, having a knock-on effect at the knowledge search stage and analysis of alternatives stage. If your customer is happy, this will end in whole loyalty, and the Information search and analysis of other stages can usually be fast-tracked or skipped altogether.