The taste and preferences of consumers are always changing. Businesses need to find out ways to be in the race for finding the top spot inside the minds of consumer. Knowing their taste and preferences will help immensely in understanding how do they make purchase decision?
Here is a list of things that businesses should know about consumer’s purchase decisions:
- Need Recognition: This is when the need for purchase is triggered in the minds of the consumers. Consumers need to get that trigger in the mind to make a buying decision so a need recognition is very important to understand the decision making pattern
- Information gathering: Once need is triggered consumers start gathering product related information through various digital channel like social media, product reviews etc or through offline channel like peer reviews, face – to – face conversation with sales or marketing person etc.
- Product Evaluation: Once consumer finalizes 2 – 3 options then they subconsciously start analyzing the positives and negatives between the all prospective options. Product evaluation is based on price of the product, features of the product, usability of the product etc.
- Previous positive experience: sometimes the buying decision is simply based on the previous positive experience of the customer from certain seller i.e. interpersonal relationship between the buyer and seller also impacts the buying decisions
- Visual Presentation: Visual presentation of the product has a huge impact on the buying decision. If the product has a cute and eye catching packaging then consumers tend to get attracted to buy the product
- Social Media: products that are buzzing the social media influence the purchase decisions of the consumers. The reviews, feedbacks etc of products affect the buying decisions of consumers
These important tips will help you understanding how consumers make buying decisions.