Marketing

Marketing Assignment

[Name of the Writer]

[Name of the Institution]

The Consumer buying process

The consumer buying process consists of the following stages.

The Problem recognition:

This aspect shows the real need on the part of a customer. In order to start a purchase, the consumer must understand rather should identify that something is missing or required. The stage also includes the aspects where the customer sees himself or what he wants to achieve through a certain product. This perception is not actually reflected in the reality and this fact presents a problem for the customer. For the marketing representative it is an opportunity. The person has to assure the customer that there is a gap between the perception and the reality. Our refrigerator broke out and we recognized that there exists a problem.

Information Search:

After the problem has been realized, the process of searching the various alternatives begins. The customer now knows that the problem exists and he is on a search of solution. The customer will start searching the related market. E.g. if the customer wants to buy a TV, he will start looking at various options. The marketing representative here should have a product that leads the market currently. On the part of the firm or company, methods can be used such as engaging in partnerships with big names like Google and showing the same in the publicity materials. We searched through online sales sites and physically through visit to the vendors.

Evaluation of alternatives:

The availability of various partners or the fact that your company is a giant market leader will not necessitate that the customer will buy your product of buy from you. The easy access of information has made the comparisons much easier. The customer now makes sure that he has complete information regarding all the available alternatives. Due to the ease of comparison, despite knowing what they want, the customers will search to ensure that the decision is the best one. Keeping the customer at your counter to evaluate all the available options is a tough task on the part of marketing team. Samsung, LG and one or two others were assessed.

Purchase decision:

This is the center stage of the process. The customer has gone through a variety of options that were available to him. The customer also knows about the various aspects like what is the price, what would be the mode of payment etc. The y can even withdraw at this stage as well. It is the right time to accelerate the marketing efforts. The marketing representative should convince the customer that the purchased is safe and also to remind him why in the first place he wanted to make the purchase. We made the purchase decision by opting for the Samsung option.

Purchase:

At this stage there is a need to be satisfied, the appropriate research has been done, and the customer has decided to make a purchase. The marketing representative should be focused as the customer can be lost at this stage as well. The sole thing on the part of the marketing representative is to keep the things uncomplicated CITATION Say13 \l 1033 (Saylor.org, 2013). The online page should be checked to be working properly. We opted for vendor purchase.

Adoption process

The adoption process includes the following things:

Awareness

The major aim of the marketing or advertising to be precise is to create the awareness for a product. A huge amount of money is spent by the firms in this regard.

Interest

This aspect includes that the customer who is aware of some product will search the options available to him.

Evaluation

The various alternates that have been assessed will now be evaluated keeping in view the criteria set by the customer. The companies adhere to this stage by offering free trial packs to the people. This is to let them try the new or improved version of any existing product.

Adoption

The customer takes a decision and uses the actual purchased product.

Similarities in the Business and consumer buying processes

Both the processes start from the need recognition step. Both include the evaluation of alternatives available.

Differences between the business and consumer buying behavior

The major difference between the two is that the consumer buys the product for own use while the business buying process is undertaken to purchase a product for other’s use. The business buying process includes detailed documentation on the part of purchaser. This is npt the case with the consumer.

Maslow hierarchy of needs

The Maslow theory indicates the basic needs first CITATION DrN13 \l 1033 (Jerome, 2013) .The consumer may be more involved in purchase for satisfying basic needs as compared to the business. Both the business as well as the consumer can be equally involved in case of safety needs. Purchase of guns by individuals or by the business for their security guards can be considered as examples. The social needs encompass the social relationships. This is more appropriately connected to the individual buying process as businesses have professional relations rather than the personal relations. In the last two steps, only the business will be involved.

References

BIBLIOGRAPHY Jerome, D. N. (2013). Application of the Maslow’s hierarchy of need theory; impacts and implications on organizational culture, human resource and employee’s performance. International journal of business and management invention, 39-45.

Neubauer, M. M. (2010, June 10). https://muep.mau.se. Retrieved from https://muep.mau.se/bitstream/handle/2043/10565/TheCustomerBuyingProcessl.pdf?sequence=1: https://muep.mau.se/bitstream/handle/2043/10565/TheCustomerBuyingProcessl.pdf?sequence=1

Saylor.org. (2013). https://resources.saylor.org. Retrieved from https://resources.saylor.org/wwwresources/archived/site/wp-content/uploads/2013/02/BUS203-PoM-Ch4.pdf: https://resources.saylor.org/wwwresources/archived/site/wp-content/uploads/2013/02/BUS203-PoM-Ch4.pdf