B6026 wk4 assignment Ranju Lewis

Running head: ONLINE BUYING DECISION PROCESS 1

ONLINE BUYING DECISION PROCESS 6

Online Buying Decision Process

Rashieda NasifDavis

Argosy University

Online Buying Decision Process

The buying decision process is the choice-making steps followed by a consumer based on market transactions before, during and after buying a good or service (Crane, 2012). Consumers always undergo a process before deciding on buying a chosen product. The consumers want to be assured that they are getting the best-valued product and at the right price. Online marketers are required to consider the entire process which a consumer goes through before they choose to make a purchase. Variety of products and services are offered on the online platform including phone accessories and phone repair which are frequently used. Consideration of the online buying decision process of a consumer can help the business make a suitable marketing pitch.

Problem Recognition

Problem recognition is the first stage of the customer's buying process. Needs are triggered by internal stimuli such as the feeling of hunger or external stimuli such as advertising or word of mouth (Crane, 2012). Needs are arranged in a hierarchy and different needs can only be satisfied at certain levels (Khan, 2008). The online marketers are required to identify the needs of the consumer and at the same time know a way in which those needs can be satisfied. Identification of what drives the consumer to buy a product, be it a social need, an emotional need or budget pressures, is important.

By knowing the needs of the potential customers, online marketers have an opportunity to showcase their products/services which can satisfy the perceived need. Marketers can be able to adjust their product or service if possible, to fit the consumer's needs. Identifying the right market to sell their products and services to be made easy by taking into consideration the consumer needs.

This stage is very critical because the customer has to realize they really need the product. To identify with the customer well, the marketer needs to have the right content marketing (Crane, 2012). It can involve steps such as having an ad that has a detailed explanation of the consumer's problem and how the product or service can be able to solve it. Sharing testimonials regarding the product or service can sway the consumer's decision. The marketer can also proceed to ask questions to lure the consumer into the buying process. Such questions will inspire curiosity among consumers and the urge to explore the potential solutions.

Search and Determination of Alternatives

This is the stage in which consumers search for the information regarding the product or service from either friends, advertisements, family or friends. The consumer can use either internal or external information. Internal information will include the consumer's memory or recollection (Khan, 2008). Here the consumer will gather information based on past experience with the product or service. External information is where the consumer seeks information from personal sources or other consumers such as friends or family (Khan, 2008). This is also the stage where the consumer seeks value to the prospective product or service. The consumer can rely on print, online media or word of mouth.

Examples of individual sources which are market dominated will include advice from a salesperson in a wholesale or retail online shop (Verma, 2008). When a consumer will ask an employee about the product then that will be considered as external research. Television advertising and websites of the company are some of the methods which are considered non-personal and are marketer dominated. If the product at hand is considered a staple, or something which is frequently purchased then internal information research can be able to trigger a purchase.

This provides an opportunity for marketers to demonstrate that they are the best in the industry and that their product or service is the solution. This will create credibility and trust. At this stage, success stories will be relevant as they will show the marketer's experience and how best the product can work. This will have a long lasting impression on the customer's mind compared to any other method. If the marketer can be able to portray the product well to the consumer then the chances of the consumer buying the product will increase.

Evaluation of Alternatives

After getting the knowledge needed about a specific product, the consumer will then will assess the various alternatives considering features and quality and their want-satisfying power. The individual will consider the attributes of the various products and identify those that have the power to deliver benefits to the customer. The consumer will choose based on the psychological and functional benefits that the product or service will offer. The number of alternatives can be referred to as the evoked set and it can differ depending on the client.

At this stage, the crucial factor that will influence the consumer's decision is the consumer's attitude and their degree of involvement with the brand or product (Khan, 2008). For example, if the consumer's attitude is positive and the degree of involvement high, then he or she will evaluate many companies and brands. If the involvement is low, he or she will only evaluate just one company. The consumer will consider the advantages and drawbacks of all the specified companies and find one which can satisfy the need well.

Marketers at this stage should really try to keep the customers on their site. They can provide their current rates and even compare them with their competitors' rates even if the other companies offer them at a cheaper price. This will not only simplify the process but also establish a trusting customer relationship. The one thing marketers can do at this stage is offer more value compared to the competitors and communicate more with the consumers. This will help influence the consumer's decision to the marketer's product.

Purchase Decision

After the consumer has evaluated all the options he or she can be able to make a decision on whether to make the purchase or not. The consumers at this stage will need to be reminded of the problem that brought them there in the first place. The marketers can do these through explaining to them step by step the problem that was identified in the first stage and reaffirm to the consumers that the product or service has the ability to solve the problem. Chances of postponing the purchase decision may arise but in this case, the marketers must try hard and find the decisions then work to remove them. This can be done by offering sufficient information regarding the product or by providing a guarantee to the product.

The final purchase decision may be affected by factors such as the level of motivation to affect feedback and negative feedback from other consumers (Verma, 2008). This can be solved by reassuring the customer about the product. Decision making can also be disrupted by other unforeseen factors such as loss of a job or moving out. The marketer can at this point push the purchase to a more convenient time or make the circumstances favorable for all. The purchasing power of a consumer online can be influenced by factors such as promotions, website accessibility or ease of purchase and the website terms and conditions.

The marketers can formulate an idea of using emails as follow-ups or phone calls to keep reminding the consumer how their services or products can be of benefit to them. If the consumer has already made a decision to do business with the company or brand, then the marketer should provide for, easy steps to be followed for the purchase to be made. The system should not be slaggy as this may make the consumer give up or ditch the brand for their competitor. The process should not be hard for them.

Post-purchase Evaluation

After making a purchase of the product, the consumer will either be satisfied or dissatisfied with the product. The consumer will compare the product or service offered with their expectations. The marketer's duty is to satisfy the customer because the satisfaction level will greatly influence the decision of purchase from the same company in the future (Crane, 2012). If the client is satisfied, it will result in the brand loyalty. The aim of all consumers after buying a product is so that it meets the needs and if the wants are satisfied then it will be a win-win situation for both the consumer and the marketer.

Based on the fact of being either satisfied or dissatisfied, it is recommended that consumers submit their feedback, either positive or negative, about the product. These can be submitted through website reviews, word of mouth or social media platforms. A satisfied customer can be able to commend the services offered and recommend people to the website and a dissatisfied client can also give his or her views stating the reasons as to why he or she thinks so.

There are a couple of ways marketers can work through this stage including good customer service, using follow-up emails or survey and use of fair treatment. If the clients are treated the wrong way, they will leave forever or even give bad reviews regarding the business to other people. Companies should be very careful and formulate positive after purchase communication for the purpose of engaging the customers and making the whole process as efficient as possible.

Conclusion

Consumers always want to get value for their money and that's why they follow through a process before buying a product. Processes such as problem recognition, search and determination of alternatives, evaluation of alternatives, purchase decision and post-purchase evaluation are very important. The steps are geared to guide and help marketers understand the purchase process better and employ good strategies to help sell their product or service. Strategies such as good advertising and knowing the consumer needs well will help the marketer establish good relations with the consumer.

References

Crane, F. G. (2012). Marketing for Entrepreneurs: Concepts and applications for new ventures.

IGI Global, & In Information Resources Management Association, (2018). Mobile commerce: Concepts, methodologies, tools, and applications.

Khan, M. (2008). Consumer behavior. New Delhi: NAI Pub.

Pride, W. M., & Ferrell, O. C. (2010). Marketing. Mason, OH: South-Western/ Cengage Learning.

Verma, H. V. (2008). Services Marketing: Text and cases. India: Dorling Kindersley.