You have probably thought about many products you want or need but never did much more than that. At yet other times, you skip stages 1 through 3 and buy products on impulse. For example, you might see a roll of tape at a check-out stand and remember you need one. These are items you need, but they are low-involvement products.
Today, Lexus is the automotive brand that experiences the most customer loyalty. For a humorous, tongue-in-cheek look at why the brand reputation of American carmakers suffered in the s, check out this clip.
Stages in the Buying Process Figure 3.
Some might be better than others. Will you discard them, and if so, how? Then what will you buy? Where does that process start? You realize that you must get a new backpack.
Recognizing a need may involve something as simple as running out of bread or milk or realizing that you must get a new backpack or a car after you graduate. Marketers try to show consumers how their products and services add value and help satisfy needs and wants.
Previews at movie theaters are another example. How many times have you have heard about a movie and had no interest in it—until you saw the preview? Afterward, you felt like you had to see it. Search for Information For products such as milk and bread, you may simply recognize the need, go to the store, and buy more.
However, if you are purchasing a car for the first time or need a particular type of backpack, you may need to get information on different alternatives.
This is a great position for the company that owns the brand to be in—something firms strive for. Because it often means you will limit your search and simply buy their brand again.
Frequently people ask friends, family, and neighbors about their experiences with products. Magazines such as Consumer Reports considered an objective source of information on many consumer products or Backpacker Magazine might also help you.
Similar information sources are available for learning about different makes and models of cars. Internet shopping sites such as Amazon. The site offers product ratings, buying tips, and price information.
However, they also often consult non-neutral sources of information, such advertisements, brochures, company Web sites, and salespeople. Product Evaluation Obviously, there are hundreds of different backpacks and cars available.
In fact, good salespeople and marketing professionals know that providing you with too many choices can be so overwhelming that you might not buy anything at all. Consequently, you may use choice heuristics or rules of thumb that provide mental shortcuts in the decision-making process. You may also develop evaluative criteria to help you narrow down your choices.
Evaluative criteria are certain characteristics that are important to you such as the price of the backpack, the size, the number of compartments, and color.But if we measure the purchasing behavior of the customer on the basis of his involvement in the purchase, then the two most common type of purchase is Low involvement purchase of a Low involvement product or a high involvement purchase.
A high involvement purchase exists when a consumer has to buy a product or service that is expensive, or that poses the risk of significant emotional consequences if a mistake is made. A low-involvement purchase usually involves an abridged decision-making process. In these situations, the buyer typically does little if any information gathering, and any evaluation of alternatives is relatively simple and straightforward.
Trident University International Principles of Marketing, MKT Module 1 CASE ASSIGNMENT Select TWO products which you have bought (or rented), ONE a High Involvement purchase, and ONE a Low Involvement purchase, in the following product categories A FOOD GOOD, A SERVICE OR A TRAVEL-RELATED GOOD.
A low-involvement purchase usually involves an abridged decision-making process. In these situations, the buyer typically does little if any information gathering, and any evaluation of alternatives is relatively simple and straightforward.
Low Involvement Low involvement decisions are made quickly in a traditional marketing environment. They rely more on point of sale marketing to influence the consumer’s purchase.