Consumers don’t make a purchase decision just for the sake
of making a decision. Before making a purchase decision the consumers go
through a series of steps. The thing to note here is that this model is more
applicable for high involvement decisions rather than day-to-day purchase/Low involvement decisions.
These steps are discussed below.
Need Recognition
In this phase a consumer realizes that there is a need for certain
product or service. For example you might realize one fine day that you need to
change your old LCD TV with a new one. Hence, realizing that you want to change
your TV means that there is a “Need” that you want to fulfill.
Information Search
Once you realize that you have an unmet need that you want
to fulfill, you start searching for information. As you want to replace your TV
with a new one, and as an LCD TV is considered to be a high involvement purchase
decision, you will invest some time in research. You might look for different
brands of LCD TV’s and then shortlist the top 3 that you want to purchase.
Evaluation of Alternatives
Once you have shortlisted the top 3 brands of LCD TV’s you
will then measure the benefits and costs of each.
Choice/Purchase
After evaluating all the alternatives, you will finally make
a choice and purchase the best TV that meets your requirements.
Post Purchase Evaluation
After you have purchased a new LCD TV you will place it in
your room and then wait for other people to comment on it. If others seem to
like your new LCD TV then your post purchase evaluation will be positive.
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