1.1.1.1.1.1.1.4 Chapter Overview (“Summing Up”)
LO1 Articulate the steps in the consumer buying process.
The consumer buying process consists of five main steps: First, during need recognition,
consumers simply realize they have an unsatisfied need or want that they hope to address.
Second, they begin to search for information to determine how to satisfy that need. Third, during
the alternative evaluation stage, they assess the
various options available to them to determine which is the best for their purposes. Fourth, the
purchase stage involves obtaining and using the product. Fifth and finally, consumers enter the
postpurchase stage, during which they determine whether they are satisfied or dissatisfied with
their choice.
LO2 Describe the difference between functional and psychological needs.
Functional needs pertain to the performance of a product or service. Psychological needs pertain
to the personal gratification consumers associate with a product and/or service.
LO3 Describe factors that affect information search.
The information search that people undertake varies depending on both external and internal
factors. Among the former, the type of product or service dictates whether people can make an
easy, quick decision or instead must undertake significant research to find the best purchase
option. A person’s perceptions of the benefits versus the costs of the search also determine how
much effort they undertake. These perceptions often relate closely to their perception of the risk
involved in their purchase. Finally, people’s locus of control, whether external or internal,
strongly influences their information search actions.
LO4 Discuss postpurchase outcomes.
Marketers hope that after their purchase, consumers are satisfied and pleased with their purchase,
which can lead to customer loyalty, a positive postpurchase outcome. However, consumers also
may suffer postpurchase dissonance, or buyer’s remorse.
LO5 List the factors that affect the consumer decision process.
The elements of the marketing mix (product, place, promotion, and price) have significant
effects, of course. In addition, social factors, such as family and culture, influence not only what
a consumer buys but also how a consumer goes about making a purchase decision. The
psychological factors that influence purchase decisions include motives attitudes, perceptions,
learning, and lifestyle. Finally, the specific factors that mark the purchase situation, like the store
setting or even the time of day, can alter people’s decision process.
LO6 Describe how involvement influences the consumer decision process.
