Blog Post 4: CONSUMER BEHAVIOR

Hello! Sorry it has been so long... These past couple of weeks have been really busy as it is the middle of the semester, so work has been piling up!

Today's topic that I will be discussing is consumer behavior.

the purchase decision process

For every purchase a consumer subconsciously goes through a process in order to decide what they are going to purchase. It is a five step process that goes through everyone's head when they are making serious purchase decisions.

Step One: Problem Recognition

This is the step where a consumer realizes that they need to buy a product, whether it be a car, or shampoo.

Step Two: Information Search

This is the step where the consumer does research on whatever product they want to buy. They gather prices and information on different brands or different companies of the product they want to buy. If they are buying a car, they may do research on what kind of car they want, and the prices of this car at different car dealerships.

Step Three: Alternative Evaluation 

In this step the consumer compares the different options he or she has. Which one has the better price? Which one would work better for me? By comparing different brands or companies, the consumer can decide which one they like the most and makes the most sense to buy.

Step Four: Purchase Decision

This is the step where the consumer decides which item they are going to buy, and makes the purchase. They decide where to buy the product from, and when to buy it. Do I wait for it to go on sale? 

Step Five: Post-purchase Behavior

After the consumer has decided which purchase to make, and makes the purchase, he or she may feel regret. Should I have bought the other company's product? Should I have purchased the cheaper version of this product? If they are dissatisfied with their purchase, they are likely to tell at least nine people about their purchase.

The consumer could, however, decide that they are completely happy with their purchase decision, and not ask themselves any of those questions. If they are satisfied with their product then they are likely to only tell three people about the satisfaction that came from this purchase.

http://www-rohan.sdsu.edu/~renglish/370/notes/chapt05/

hierarchy of needs

What is the hierarchy of needs, and why does it apply to marketing?

The hierarchy of needs is a description of the types of needs that a person looks to fulfill if they are going to make a purchase. 

http://en.wikipedia.org/wiki/Maslow's_hierarchy_of_needs

The hierarchy of needs relate to marketing because depending on the product a company is selling, they must decide how to market it. If they are a restaurant they know they have to market towards people who are looking to fulfill their physiological needs. However, if they decide sell flowers, they will try to market towards those looking to fulfill social needs because flowers make a person feel loved.

Physiological Needs

This need is the need that people look to fulfill first. They consist of food, water, shelter, and oxygen. This obviously applies to any company that is looking to sell food or shelter, such as a fast food restaurant, or a hotel. 

Safety Needs

This need is the need people look to fulfill after they fulfill their physiological needs. They apply to anything having to do with providing people with a freedom from harm, or financial security. A company that sells car seats, or provides a service that installs home security systems would be examples of companies that fulfill the safety needs of people.

Social Needs (Love and Belonging)

Social needs are fulfilled after the consumer has fulfilled their physiological and safety needs. These needs are those relating to friends, love and belonging. Example of companies that fulfill the social needs of a person would be a flower shop, or a cell phone company.

Personal Needs (Esteem)

Fulfilling personal needs comes after fulfilling social needs. To fulfill this need the company needs to make the customer feel a sense of status, respect and prestige. A tailor that creates custom suites is a good example because they make the suite based off of each individuals wants and needs, making them feel special.

Self- Actualization Needs

This need is the most difficult to fulfill as its the last need a person looks to satisfy their need. For a consumer to fulfill these needs they have to make the consumer feel a sense of self-fulfillment. These are a consumer's biggest dreams. College is a great example because people go to school to pursue an education in something they want to do for the rest of their lives.

That's all on this topic!! Thanks for reading...