The consumer decision-making process typically involves five key steps:
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Problem Recognition: This is the first step where the consumer identifies a need or recognizes a problem that requires a solution. This can be triggered by internal stimuli (such as hunger or pain) or external stimuli (such as advertising or word-of-mouth).
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Information Search: Once the problem is recognized, the consumer seeks information about potential solutions. This can involve both internal searches (recalling past experiences) and external searches (looking for information through friends, family, reviews, and online research).
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Evaluation of Alternatives: After gathering information, the consumer evaluates different products or services based on various criteria, such as features, quality, price, and brand reputation. This helps them weigh the pros and cons of each option.
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Purchase Decision: Following the evaluation, the consumer makes a decision on which product or service to purchase. This step can be influenced by factors such as price, availability, and perceived value. Sometimes, external factors like promotions or discounts can also sway the decision.
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Post-Purchase Evaluation: After the purchase, the consumer reflects on their decision and evaluates whether it met their expectations. This can lead to feelings of satisfaction or regret, which can influence future buying behavior and brand loyalty.
These steps are not necessarily linear, and consumers might revisit previous stages based on new information or changing circumstances.
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