CONSUMER DECISION-MAKING PROCESS

Consumer Decision-Making Process

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Consumer Decision-Making Process

Introduction

Studies suggested that consumer decision making process include a number of stages, and depends upon distinct variables include the extent of novelty, or risk associated with purchase decision. Internet marketing enable marketers to get involve at every stage, and make the process easier and efficient for consumers, results in customer satisfaction. The process of consumer decision making involves five stages that are need recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation. Internet emergence into every aspect of lives has brought many changes as well as provides a through in a number of opportunities, explicitly to internet marketers. Now, marketers have various effective communication channels through which they can influence consumer decisions. Internet makes it possible for marketers to fulfil the needs of consumer 24 / 7 all around the world. In order to attract customers and fulfil their needs and wants through the internet such as websites blogs, which allows the customer to write suggestions, provide feedback, and reviews. Internet marketers can extract information from these blogs about the unsatisfied need of consumers. Other mediums can be social networking like twitter, facebook and web advertising. Internet marketing facilitates in creating close relationship with customers that resulted in customer trust, loyalty and provide competitive advantage.

For instance, Amazon.com who is an online retailer and their product lines comprise of books, videotapes, music CDs, software, toys and games, musical instruments, sporting goods, kitchen items, and many more. In recent years, Amazon.com introduced a new technology via the internet to fulfil customers need and wants that are not addressed yet. Amazon.com introduced web-based technologies in order to develop a customized homepage for each and every customer.

Discussion

Marketers are more concern about the process of consumer decision-making in order to explore, create and deliver value for customers to satisfy target market. The first step of this process is need recognition. Consumers identify some need or problem, this usually happen when they are not satisfied with the current state or their preferences have been changed. Such events brought an opportunity for marketers to address the desired state of consumers through the internet. When customers login to their account at Amazon, customized lists of recommendation is available based on prior purchase history. This provides Amazon.com a competitive edge over others, and it is possible only because of internet marketing (Hill & Jones, 2009).

After customers get aware of its need or want, they strive to search information by two approaches. Firstly, they try to recall or do memory scan about information, known as internal sourcing; and secondly, they may use external sources such as asking friends or family, observe other people, search online, word of mouth, trial, or look for advertisement (Kumar & Benbasat, 2006, pp.425-439).

The most important technological advancement is because of internet during 20th century, as it provides a customer with most updated, relevant, and customize information. There are a number of ways through which customer can find information regarding a ...