Consumer Buying Decision Consumer Purchase Decision May Essay

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Consumer Buying Decision

Consumer purchase decision may appear random at times as a person goes to the market to buy groceries. But whether it is a low involvement product (LIP) like a jar of mayonnaise or a high involvement product (HIP) like a house, the consumer will usually go through five stages of purchase decision which are less pronounced in the case of LIP than it would for a HIP.

A low involvement product is defined as "a product where the process of searching for information is minimal, without distinct brand loyalties." (Grebitus, p. 43) A hair brush, beauty soap, a bath towel for example would all be low involvement purchases. They do not require considerable amount of effort, energy or money and hence even if the decision goes wrong, it won't have a significant effect on the consumer.

A high involvement product on the other hand is the one which is likely to involve considerable amount of planning and thinking and which has a higher significance and relevance to the consumer's social status and personal needs. A car or a house would thus be characterized as high involvement purchases. It must be borne in mind that a HIP would usually have three characteristics:

1. It is expensive

2. It can have consequences

3. It has a bearing on a person's social status

The five stages of consumer buying decision would however apply to both the LIP and HIP but to different extent. As we learn more about these five stages, we shall also look into the extent to which each stage plays a role in the purchase of low or high involvement. In our case, we have chosen razor as a LIP and a car as a HIP.

IDENTIFYING A NEED:

The first stage is identification of a need for the product. A person may feel that he or she doesn't have razor to shave.

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He would rush to the market and get a few. But before he does that, he would first know in his heart that such a need exists. For a HIP, similarly, a person would find a serious discrepancy between the present and the desired situation. In the case of a car for example, the consumer would first feel the need. Probably he had been riding the bus to school every day and felt that it often led to delays in reaching the class. Or that it didn't always come on time or that the person is losing a considerable amount of time riding the bus and hence needs a car; but the need is there and it is strongly felt too before a person reaches the second stage i.e. gathering information.

GATHERING INFORMATION:

Once the need is felt, the person would then start researching the product. In the case of a low involvement product, this research would be minimal. He would probably go to the market, read some labels and get the one he finds best. But he may also have heard about a good product in razors and likes the one he has been using for a while and thus quickly makes the decision. In the case of LIP, brand loyalty is usually low. A new and better product can quickly change the consumer's mind and he will be more than willing to give it a try since not much money or status is attached to the product.

However in the case of HIP, this process of gathering information can be considerably lengthy. The person will use as many resources as he can to get the most updated information about this intended purchase. He would want to know the brand well, the car's history in the market, experiences of people driving….....

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