Buyer Decision Process
Part 1
There are five steps in the Buyer Decision Process. The first step occurs when the buyer recognizes a need for a product or service. The next step is the information search for products or services to meet the need. Step three happens when the buyer is evaluating the alternatives found in the information search. The fourth step is the actual purchase decision made by the buyer. The fifth step in the Buyer Decision Process occurs after the purchase. The post-purchase evaluation determines whether buyers are satisfied with their purchase or are suffering buyer’s remorse.
Click here to see the buyer decision process in action.
Think of something you recently purchased. Write 2 pages to respond to the following questions:
- What were your experiences as you progressed through the five steps of the buyer decision process as they related to your purchase?
- Which step of the process was the most important for you in making your purchase? Why?
- Which step of the process was the least important for you in making your purchase? Why?
Part 2
You have learned many marketing practices, such as the branding, pricing, promotion, communication, and distribution of products. You have also learned that branding is important because it is how customers recognize products and businesses. Pricing is important for a business to earn revenue and for customers to make sure that they are getting the best for their money. Promotion and communications are used to get the word out about a business and its products, and distribution is how the products get to the places where buyers can get them. These practices apply to both large and small businesses.
Click on the following links to watch videos that can help with the assignment:
Use this template to respond to the following:
- If you could have your own business, what would you name your brand, and why?
- What pricing model from our lessons would you use, and why?
Describe the options to promote your business without overspending
