Understanding the buying decision process.

THE BUYING DECISION PROCESS:

The Five- Stage Model:

Problem Recognition:

            Here the problem is how to satisfy the short term hunger for the consumers by a tasty snack and also to find out the number of potential buyers of the products and number of buyers consuming for the brand image or taste irrespective of the quantity.

Information Research:

             The sources of information fall into four groups.

·         Personal-Friends, Family, friends, neighbours etc.

·         Commercial-Advertising, websites, displays etc.

·         Public-Mass media, Consumer –rating organizations.

·         Experiential – Handling, Examining, Using the product.

§  Search Dynamics:

                        Search dynamics is used to analyse the buying criteria of the customers by having a total set of brands available for the particular product. Few brands which have been known by majority of the consumers comes under the awareness set. Some brands which comes under the initial buying criteria will come under the consideration set. As consumer experiences more information only a few comes under the choice set and the remaining strong contenders in which the consumer makes the final choice comes is referred to as the decision set.

EVALUATION OF ALTERNATIVES:

                  Various attributes of the products are taken into consideration and a final judgement for the purchase of the product is made by evaluating all the attributes. Lays has to concentrate more on the quantity provided and the price is charged for the same.

PURCHASE DECISION:              

                  This stage the consumer prefers to buy the most preffered brand according to his attributes and weightage considered for all the attributes, which has the best option for the buyer.

POST PURCHASE BEHAVIOUR:

                  The marketers duty doesn’t end with the selling of the product alone. Post purchase behaviour must also have to be taken into consideration. Certain things about other brands and feedback from the customers must be thoroughly monitored.

                  As Lays is a FMGC product, after sales service are not available for these products, but the company provides feedback forums and 24 hour toll free number on which the consumer can cast their views and lodge their complaints regarding, quality, quantity, price and packaging, etc. So that the company would be able to come up with the best product as preferred by the customers.