February 23, 2024

Everything That Consumers Evaluate When Deciding If to Buy Something is Referred to As the Consumer Decision Making Process

Everything that consumers evaluate when deciding whether to buy something is referred to as the consumer decision making process (CDMP). The CDMP involves five steps: Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision, and Post-Purchase Evaluation. The first step, Need Recognition, occurs when consumers recognise a need that can be satisfied by purchasing a product or service. This can be triggered by internal factors such as a desire to fulfil a need, or external ones such as depletion of a product (like running out of ink), or dissatisfaction with an existing one (such as a broken smartphone).

The second step, Information Search, is when consumers seek information about products or services that might meet their needs and provide value. This step involves researching the marketplace, either internally through previous experience or externally through information sources such as friends and advertisements. As part of the Information Search phase, consumers develop a list of criteria (often only a mental one) and determine which qualities are most important to their final selection.

Consumers then compare the alternatives that they have evaluated during the Evaluation of Alternatives stage to see which meets their criteria. They will consider things like price, quality, brand reputation and more. Some consumers find the Evaluation of Alternatives stage quite exhaustive, while others only evaluate a small number of choices and are more quick to convert.

Finally, the purchase decision is made when the consumers are satisfied that a particular product or service will best satisfy their need, and they go ahead and make a purchase. Anything that a marketer can do to simplify the purchasing process will be attractive to buyers, including fast and easy checkouts and delivery options.

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