The Stages of Consumer Buying Decision Process Essay Example for Free

The Stages of Consumer Buying Decision Process EssayA purchaser buy a crop or service for the first time. The greater cost or risk, the larger the number of participants and the greater their information gathering. New task purchase is the marketer greatest opportunity and ch every last(predicate)enge. The process passes through several(prenominal) stages. They are 1. Awareness2. Interest3. Evaluation4. Trial5. AdoptionSystems Buying and SellingMany business buyers prefer to buy a total issue to a problem from one seller. System buying The practice that originated with government purchases of major weapons and communication systems. The contractor who has awarded the contract would be responsible for bidding bulge and assembling the system subcomponents from second tier contractor.This is the prime contractor provides a turnkey solution. System Contracting A single supplier provides the buyer with all required MRO supplies (maintenance, repair, and operating supplies). Du ring the contract period, the suppliers managed the customer inventory. System selling is a key industrial marketing strategy in bidding to build large scale industrial project, such as dams, steel factories, irrigation systems, pipelines utilities, and even refreshful towns. Participants in the Business Buying ProcessPurchasing agents are influential in straight rebuy and modified rebuy situations whereas other department personel are more influential in new-buy situations. The Buying Center1. InitiatorsUsers or others in the organization who request that something be purchased2. UsersThose who pass on use the product or service. In many cases, the users initiate the buying proposal and help define the product requirement. 3. Influencers People who influence the buying decisions, often by helping define specifications and providing information for evaluating alternatives. Technical personel are particularly important influencers. 4. DecidersPeople who decide on product requiremen t or on suppliers5. ApproversPeople who authorize the proposed actions of deciders or buyers 6. BuyersPeople who have formal authority to select the suppliers and arrange the purchase terms. Buyers may help shape product specifications, but they play their major role in selecting vendors and negotiating. In more complex purchases, buyers may include high-level managers 7. GatekeepersPeople who have the power to hold on seller or informations from reaching members of the buying center. For example, purchasing agents, receptionist, and telephone operators may prevent salespersons from contacting user or deciders. Buying Center TargetingTo target their efforts properly, business marketers subscribe to figure out Who are the major decision participant?What decisions do they influence?What is their level of influence?What evaluation criteria do they use?The business marketers is not likely to know exactly what kind of group dynamic take place during the decision process, although whate ver information he mickle obtain approximately personalities and interpersonal factors are useful.Stages in the Buying Process1. Problem RecognationThe buying process begins when someone in the guild recognizes a problems or need that can be met by acquiring a good or service. The recognation can be triggered by internal and external stimuli. Internal stimuli might be that the company decides to develop a new product and needs new equipment and materials or a machine breaks down and requires new parts. Externally, the buyer may get new ideas at a trade show, see and ad, or receive a call from a sales representative who offers a better product or a lower price.2. General Need Description and carrefour SpecificationThe buyer determines the needed items general characteristics and required quantity. The buyer will work with others engineers, users, to define characteristics such as reliability, durability, or price. Business marketers can help by describing how their products meet or even exceed the buyer needs. The buying organization now develops the items technical specification.Often, the company will assign a product value analysis engineering team to the project. Product value Analysis (polyvinyl acetate) is an approach to cost reduction that studies component to determine whether they can be redesigned or standardized or made by the cheaper methods of production. The PVA team will identify overdesigned components, for instance that last longer for the product itself.