Executive Summary of M3: Assignment 2

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online_buying_process.docx

Running head: ONLINE BUYING PROCESS 1

ONLINE BUYING PROCESS 7

ONLINE BUYING PROCESS

Latrice Jones

Argosy University

7/2/2014

Given the technological changes in the communication channels and mediums, every organization or individual is trying hard to adapt to the changes in the communication process. On such human community is the business community that has adopted new kind of media that is online news channels in order to communicate to an enormous size of possible customers over the world and persuade them to buy their particular products and services. This in turn results in improved market share which also increases the sales of the respective business, hence steady growth of the business due to improved profits.

As business turn to online services, they create a process called online buying process through which the customers can access the products or services of a business. Therefore, online buying process refers to the use of new forms of media by the organizations and potential customers in the purchase of the products and services of the business. In thus a description of the procedure, the customers and the organizations have to go through as they seek the services or products of the business through the new forms of media.

Online buying service of choice is the communication and video production consultancy services to the corporate world. The website of the firm the likely customers are able to obtain knowledge about the business and have the perception of the services offered in terms of the costs for different types of video shoots involving corporate conferences, charity activities, Annual General Meetings and other forms of interactive projects within the corporate world. Once equipped with the information the interested customers are able to contact the organization offering the services using the available contacts on the web site including the phone contacts, email addresses, Social Media pages among others. Then parent firm offering the service also takes upon it to advertise its services by requesting for friendship from the various organizations in the corporate world as well as reaching out to the huge social media market using its various social media platform accounts.

By the business setting to present her services online, suggests that those in need of the services will have to buy it online, hence online buying process which helps the consumers in their identification of their needs, collection of information evaluation of the alternatives and their purchasing decisions on the basis of psychological and economic influencing values such as cultural, social and group factors. Online buying process comprises of different steps such as awareness, find ability, evaluation, decision, purchase, support, and rewards. Through online interaction among the visitors of the service provider’s website the potential consumers get two-way communications in addition to involvement and control of web experience.

However, it should be seen that even though the service is offered online, it is not a must for the consumers to be exposed to the online buying process each time they seek the service. It is because the preferences of consumers differ at different times and as such, their satisfaction of the various wants is rational given that that after seeing the service online they may want it and then purchase it.

There are various online customer buying process stages for the video production services namely; need for recognition, information search, evaluation, purchase and post-purchase evaluation. Although these stages, the consumers get guidance on their decision and buying process when buying the service as well as improving the business’ marketing strategy. These stages are described below.

Need Recognition

The first stage of the online buying process is the recognition of the need by the consumer given the fact that the availability of the need determines the purchase of the service or product. Recognition of the need by the consumer is as a result of the uncertainty surrounding the consumer’s actual, ideal and desires situations of the need. IN this case, for the purpose of the keeping evidence and prove of what transpires say during the organization’s Annual General Meeting, the organization may find it necessary to seek video recording thus the need becomes recognized.

The need for video production services is determined by the charges attached to it and the ease of acquisition by the potential consumer, however, the requirement for recognition of the importance of reporting the activities of the consumer such as the organization’s participation in international functions would trigger a buying behavior for the video coverage service regardless of the price for the same given that the function is important and a lifetime opportunity.

Information search/ gathering

Information search entails the buyer for the service or product to conduct both internal and external searches of the business environments in efforts of the identification and evaluation of the information sources in relation to the consumers’ buying decision. This takes place in different platforms of the media including the word of mouth, online media and print, however, in this case inline media is relevant given the service is offered online.

After identification of the opportunity such as the one described above in which it not known when the next international function will be conducted, the organization or individual looks for a solution to the need, hence the need for it to be covered. The internet plays a succinct role in the seeking of a solution to the identified need or problem as it improves the customer’s ability in having alternatives and more information on the same. Her, when the customer searches for the “video production companies” he or she will be presented with many alternatives from which to select the best in terms of history of the company chosen or the prices for offering the service. The customer is at liberty to choose a company of choice after keen analysis of the service and role in the market thereafter decide to visit or call the company to inform them of an intention to seek their services. From her, the production house in conjunction with the client will plan of the logistics on the how the function in question will be covered.

Evaluation of Alternatives

This is the third stage of online buying process and involves the consumer’s evaluation of the different products and services by various businesses from his or her information search. This stage helps in the eradication of potential risks while at the same time leading to maximization of the set objective probability. It is determined by various factors such as the customer’s attitude and involvement in the process.

The internet plays a tremendous role in this stage in that the potential purchasers have the opportunity to look for recognized brands and in this case the various video production companies. The purchaser of the service can make good use of this stage by utilizing the new form of media like the smart phones or tablets by allowing him or her to find relevant information about the production house in the offing in a quick and easy way from anywhere.

Given there are thousands of video production companies in the market; this stage is crucial and will help the consumer or purchaser in getting the ideal company to meet thinned in satisfaction. Because markets look for a competitive edge rover their competitors, each tries as much as possible to have a good and attractive website with reliable and relevant information to entice the potential purchasers to select it over others. Operating in a quick and easy way from anywhere.

Given there are thousands of video production companies in the market, this stage is crucial and will helps the consumer or purchaser in getting the ideal company to meet thinned in satisfaction. Due to the fact that businesses look for competitive edge rover their competitors, each tries as much as possible to have a good and attractive website with reliable and relevant information to entice the potential purchasers to select it over others.

Purchase Decision

As the fourth stage of the buying process, it involves the purchase making an actual purchase having analyzed the necessary information about the service or product according to the existing need. However, the stage is most likely to be distracted by the negative feedback from other customers as well as the level of motivations by the consumer to accept the feedback. There is further the possibility of the unexpected events Playing part in the distraction of the choice to purchase of the service or product, for example, when one relocates to a different place it will mean that he, or she will have to look for a related service at the new location as it will be cheaper an may offer better services.

It is always cheaper in having their production crew from within your locality depending on the type of function sat hand and the place in that certain video coverage function require state of the art equipment and thus will require much money for transportation

Post-Purchase Evaluation

It is the last stage of online buying process and presents the consumers or purchaser an opportunity to compare the service they sought in relation to the expectation they had prior to seeking the services. Dissatisfaction leads to poor decision from the consumers about the service provider’s services thus affecting the future purchase while satisfaction will guarantee the provider or seller loyalty form the consumer.

The internet plays a vital role in this stage given that activities such as blogging make it easy for the sharing of information and experiences of the service from these services provided and in this case video producer. As such, the online reputation of the producer grows the need for poor management of the same hence.

In conclusion, online buying is the easiest and most reliable form of purchase since the consumer has the opportunity of choosing what to consume and from who. In addition, it offers the business owners an opportunity to improve on their marketing strategies to meet technological changes hence customer satisfaction. However, the consumers should take caution when accessing various businesses online services with their focus being on a business with digital certificates and encrypting technologies for security purposes.

Reference

Prochaska, J. O. N. J. C. D. C. C. C., & 3M Company. (2010). Changing for Good: A Revolutionary Six-Stage Program for Overcoming Bad Habits and Moving Your Life Positively Forward. S.l.: HarperCollins.

Ryan, D., & Jones, C. (2012). Understanding digital marketing: Marketing strategies for engaging the digital generation. Philadelphia, PA: Kogan Page.

Thomas, B., Housden, M., & Thomas, B. (2011). Direct and digital marketing in practice. London: A. & C. Black.