Descibe components of the consumer decision making process


Consumer and B2B Marketing

Lamb et al. (2014) discuss how consumer buying decisions are heavily influenced by behaviors. Marketers study consumer behaviors to narrow a target market and to design the marketing mix. To attain a strong grasp on what influences consumer buying decisions, the components of the consumer decision making process are described, in conjunction with post-purchase behaviors consumers may experience. Largely depending on the product being purchased, along with emotional influences, a consumer may experience one of 3 types of involvement in their buying decisions (routine, limited, and extensive decision making). Overall, consumer decisions are largely dependent on the factors that influence consumer buying behaviors (cultural, social, individual, and psychological).

Lamb et al. (2014) explain that the same basic principles of marketing apply to businesses as they do for consumers. However, businesses make buying decisions differently than consumers due to the different characteristics that influence their buying behavior such as:

• Buying Centers

• Evaluative Criteria

• Buying Situations

• Business Ethics

• Customer Service

References:

Lamb, C. W., Hair, J. F., & McDaniel, C. (2014). MKTG7. Mason, OH: Cengage.

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Marketing Management: Descibe components of the consumer decision making process
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