1. Consumers go through five steps when deciding to buy a product or service. Identify and briefly describe these five steps.
1. Need recognition – The consumer decision process begins when consumers recognize when they have an unsatisfied need, and wanting to from their actual needy state to a different, desired state. The greater the difference between these two states, the greater the need. These consumer needs like this can be both functional, psychological, or both. (Grewal & Levy 2013)
2. Search for information – The next step, happens after the consumer acknowledges a need, is to search for information regarding the many options that exist to satisfy the need. The length and intensity of the search depend upon the degree or perceived risk associated with buying the product or service. There are two key types of information search. Internal, consumer’s own memory and knowledge about the product or service and external, consumer looks for information outside their knowledge about the product or service. (Grewal& Levy)
3. Alternative evaluations – The third step, occurs once the consumer has recognized a problem and explored the possible choices, the consumer must sort through the available options and evaluate the alternatives. Alternative evaluations frequently happens while the consumer is engaged in the process of evaluations. (Grewal & Levy 2013)
4. Purchase – The fourth step, happens when the customer goes out and purchases the product or service they believe gives them the best value. Value is the driving force of the customers buying decision. After the consumer has access to the product or service they consume it “(put it to the test).” (Grewal & Levy 2013)
5. Post purchase behavior – Is the last step of the consumer decision process. Marketers are very interested in post purchase behavior because it involves actual rather than potential customers. Marketers hope to create satisfied customers because they become loyal customers, repeat...