Consumer buying behavior typically comprises several stages. It commences with the recognition of a need or problem, triggering information search and evaluation of options. Once the consumer decides on a specific product or service, the purchase is made. Following the purchase, a post-buying evaluation takes place, influencing future buying choices and brand loyalty.
Even though consumer buying behavior can appear mysterious, all consumers go through fundamental phases when making purchases to decide which goods and services will best suit their needs. Consider customers’ decision-making before purchasing, especially if it’s a large item like a car. Before making a purchase, they consider their needs, do some research, and weigh their possibilities. They frequently question their own decision, in fact.
Marketers should put themselves in the customer’s shoes and review the steps in the consumer decision-making process to understand consumer buying behavior more thoroughly.
What is Consumer Buying Behaviour?
Consumer buying behavior describes the steps consumers take before purchasing a good or service, both online and offline. Search engine research, participation in social media discussions, and a range of other activities could be part of this process. Understanding this process is beneficial for organizations because it enables them to match better their marketing attempts to those that have previously been successful in persuading customers to make purchases.
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Stage 1: Problem Identification
The consumer buying process begins with an issue that a product or service can help solve. This shows up in a variety of ways.
There are some situations in which the customer initially encounters signs of a problem. For instance, an office worker might notice that their computer is running slowly but needs to be more precise about the particular problem or how to fix it.
Other times, the issue is easier to solve. Let’s say a woman wears high heels all day long before experiencing blisters. She promptly sees the issue and knows it requires a solution (such as new shoes or anti-blister remedies).
Now it’s the marketer’s call to create a thorough marketing campaign to develop solid brand awareness and recognition because you want people to know and trust you. You want customers to believe that they have a problem that only your product can fix beyond everything else.
Stage: 2 Information Gathering
Although it may seem obvious, customers begin seeking a solution as soon as they admit they have a problem (or a symptom of one). Therefore, the office worker with a sluggish computer may seek software upgrades to speed up things. The driver paying too much for insurance will start looking for a strategy to cut costs.
At this point, the objective of a marketer is to bring their brand in front of their target market. Customers use various methods to gather information, such as using Google searches, listing their products on online stores like Amazon and eBay, and spreading word of mouth.
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Stage 3: Evaluating Solutions
After researching, consumers often choose brands or goods that best suit their needs. At this point, consumers examine particular fixes for their issues.
For instance, someone with a slow computer might consider hiring an IT professional, buying software, or buying a new machine entirely.
The goal is to promote your product as the consumer’s top option. Here are some actions you can do to impact how customers choose your product: utilizing eye-catching graphics, making short and crisp product descriptions, adding ratings and review options, frequently adding questions and answers, etc.
Stage 4: Purchase Phase
Customers chose your brand during the purchase phase of the buying journey as a result of all your efforts. They are now prepared to use their credit card to purchase your product.
Despite being in a great position, stay active. If you provide a simple checkout process, you can still retain them.
Make every effort to complete the process quickly and comfortably. With its one-click checkout, Amazon is a master at this. This enables customers to finish their transactions with a single button click. If your store cannot accomplish that, there are other things you may try to guide customers through the checkout process successfully. The idea is to minimize the number of hurdles customers must clear to complete the transaction.
Stage 5: The Post-Purchase Phase
The post-purchase stage is the last. You’ve now been effective in turning viewers into customers.
It’s time to get feedback now. Additionally, you want to ensure that clients stick around as long as feasible. If you want to boost sales, retention is the key. Check out a few strategies for keeping clients once the consumer buying process has concluded: Request ratings and reviews, track repeat customers and customer satisfaction over time, and maintain constant contact with customers.
Consumer decisions affect buyer behavior. When purchasing a car compared to purchasing chips, there are significant changes in consumer behavior. Marketers must use careful strategies to sell products to diverse consumer behaviors effectively.
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