Consumer behaviour is the study of how people choose, purchase, use and dispose of products and services. It’s a fascinating topic that can help you gain an edge over your competitors by identifying what makes different groups in society tick! The key is understanding how your target market makes decisions and including these findings in your marketing plans. But how does one do this? Let us introduce you to the five-step consumer decision making process. It’s a great way for businesses like yours to get an insight into what drives customer buying behaviours and create effective strategies that’ll help reach new audiences with their products or services.
Step 1: Problem Recognition
We all know the feeling when we realise there’s something missing from our lives – whether it be material possessions or social status. That gap between our actual state and desired state leads us to search for ways to fill it with things like prestige items or symbols that represent who we want to be seen as. This motivates us into action so we can achieve satisfaction through ownership of these goods or services – because let’s face it, nothing says ‘I’m awesome’ quite like having cool stuff!
Step 2: Information Search
The second step in the buyer journey is all about gathering information. This stage is key to drawing your target market in, so it’s important to make sure you’re providing plenty of info on platforms they use in your marketing plans – whether that be social media, radio, websites or magazines/newspapers.
Consumers can either actively search for more details (like researching a product’s purpose and life expectancy) or passively take in what they see online and through word-of-mouth. This could lead them into an impulse purchase if they haven’t heard of the brand before!
An effective brand strategy can ensure that consumers recognise and trust your brand, increasing the likelihood of both active and passive engagement, and ultimately driving more informed and loyal purchasing decisions. It pays off to get creative with how you spread awareness around your products and services; after all, nothing says ‘check me out’ quite like having other people hyping you up!
Step 3: Evaluation of Alternatives
Now that consumers have worked out what they want in a product, it’s time to weigh up their options. Alternatives can come in the form of lower prices, extra benefits or even something as simple as colour and style choices. It’s your job to make sure you convince them why your product or service is better than all the rest! Your marketing material should be designed with this stage in mind – so get creative and show off just how awesome your products are compared to other alternatives on offer. After all, nothing says ‘pick me’ quite like having an edge over everyone else!
Step 4: Purchase Decision
It’s time for the consumer to make their purchase! After conducting research and analysing the product market, they’ll decide which platform is best suited to them – whether that be online, instore or an app. It all depends on what they’re after, their personality and how tech-savvy (or not!) they are. So, make sure your marketing plans encompass your target market’s preferred means of shopping. If they are likely to purchase online via your website, having a well built out e-commerce site will help give them easy access to products and info. And trust us, it pays off in the long run: nothing says ‘buy me’ quite like making things as convenient as possible for potential customers.
Step 5: Post-Purchase Behaviour Analysis
Once your customer has made their purchase, it’s time to see how they interact with and feel about the product. They’ll decide whether or not it satisfied their needs, if they’d repurchase from you again and what kind of feedback (positive or negative) they’re likely to leave. People usually buy products that align with who they are as a person – so make sure your brand is sending out messages that resonate! Throughout this final stage in the decision-making process, customers form an attitude towards your brand based on a variety of factors – which will ultimately lead them into forming an emotional response after buying something from you! Nothing says ‘I’m happy’ quite like feeling connected to a company through shared values and beliefs.
Well, there you have it! The five-step consumer decision making process is a great way to get an insight into what drives your customers buying behaviours. Having this knowledge is invaluable when creating effective strategies that’ll help reach new audiences with your products or services. It’s like having a crystal ball for predicting how people will act – except it doesn’t require any magic! So why not give it a go? Who knows, you might just be able to pull off some marketing magic of your own!
However, if all these marketing plans still sounds like gibberish to you or you simply don’t have the time – don’t worry! BRANDiT is here for the rescue. We’re a full-service marketing and advertising agency who can make sense of it all so your business can get ahead in today’s competitive market. So, send us a message at info@branditmarketing.com.au or use our ‘Contact Us’ form and let us do the hard work for you!
