The Consumer Decision Process Model
The process that consumers experience while contemplating a purchase is known as the consumer decision process. When the process is evaluated in individual steps, marketers can leverage knowledge about consumers and identify the most effective marketing strategies. The individual steps of the decision process are; need recognition, information search, alternative evaluation, purchase, and post purchase. (Grewal & Levy, 2014)
Need Recognition
For Olay products, there are a few possible points of need recognition. Because most women are mindful of appearances, the onset of wrinkles is a primary identifier. Additionally, though, Olay has moved towards targeting younger women and, as a result, added an additional point of recognition. Capitalization on the concept of preventative products opens the recognition point …show more content…
A recent study found that, “Consumers are engaged in extensive information searching and knowledge building in order to achieve consumer power, not only to search for alternative products and services” (Huang, Lotz & Bon, 2014, p. 18). By providing the information, companies are helping consumers feel confident in their core knowledge areas, economic, social, sanction, expert, and safety-net knowledge. When consumers feel confident in their knowledge, they are ready to move to the next phase of the consumer decision process, the purchase. (Huang, Lotz & Bon, 2014, p. 18)
Purchase Decision
Though the specific product decision is made at this point, there are still several variables for consumers to consider. Marketers also need to consider these as they could potentially prevent the purchase from occurring. Timing and availability carry a significant importance in finalizing the purchase decision. Additionally, payment method is a consideration that should not be overlooked.
Post Purchase Evaluation and Path
The process that consumers experience while contemplating a purchase is known as the consumer decision process. When the process is evaluated in individual steps, marketers can leverage knowledge about consumers and identify the most effective marketing strategies. The individual steps of the decision process are; need recognition, information search, alternative evaluation, purchase, and post purchase. (Grewal & Levy, 2014)
Need Recognition
For Olay products, there are a few possible points of need recognition. Because most women are mindful of appearances, the onset of wrinkles is a primary identifier. Additionally, though, Olay has moved towards targeting younger women and, as a result, added an additional point of recognition. Capitalization on the concept of preventative products opens the recognition point …show more content…
A recent study found that, “Consumers are engaged in extensive information searching and knowledge building in order to achieve consumer power, not only to search for alternative products and services” (Huang, Lotz & Bon, 2014, p. 18). By providing the information, companies are helping consumers feel confident in their core knowledge areas, economic, social, sanction, expert, and safety-net knowledge. When consumers feel confident in their knowledge, they are ready to move to the next phase of the consumer decision process, the purchase. (Huang, Lotz & Bon, 2014, p. 18)
Purchase Decision
Though the specific product decision is made at this point, there are still several variables for consumers to consider. Marketers also need to consider these as they could potentially prevent the purchase from occurring. Timing and availability carry a significant importance in finalizing the purchase decision. Additionally, payment method is a consideration that should not be overlooked.
Post Purchase Evaluation and Path