What are the various phases of consumer merchantile model and also differentiate between prepurchase interaction & post purchase interaction.
There are three phase of consumer mercantile model as listed below:
1. prepurchase interaction
2. purchase consummation
3. postpurchase interaction
Prepurchase Interaction
The prepurchase interaction for consumers consists of 3 activities:
Product/service search and discovery,
Comparison shopping and product selection, and Negotiation of terms.
Purchase Consummation
This model lists 3 activities in the purchase consummation phase:
Placement of order,
Authorization of payment, and
Receipt of product.