the way that people behave when they buy things, such as what they buy, where and when they shop, and how much they spend: Higher energy costs prompted many grocery shoppers to change their buying behaviour last year.
What are the 5 stages of consumer buying decision process?
- Stage 1: Problem Recognition
- Stage 2: Information Gathering
- Stage 3: Evaluating Solutions
- Stage 4: Purchase Phase
- Stage 5: The Post-Purchase Phase
What are the five factors that influence behavior?
- physical factors – age, health, illness, pain, influence of a substance or medication
- personal and emotional factors – personality, beliefs, expectations, emotions, mental health
- life experiences – family, culture, friends, life events
- what the person needs and wants
What are the 4 types of customer involvement in product purchases
Consumers are highly involved when the product is expensive, bought infrequently, risky and highly self-expressive.
Consumers may perceive significant differences between brands or just few.
What are the methods of influencing behaviour?
- Liking
- Reciprocity
- Authority
- Commitment and consistency
- Social proof
- Scarcity
- Using frameworks for influence
How can you improve buying behavior?
- Identify Customer Expectations
- Engage Prospects
- Evaluate Processes and Metrics
- Mobilize Your Leaders
- Look to the Future Now
What is customer buying process
The customer buying process (also called a buying decision process) describes the journey your customer goes through before they buy your product.
Understanding your customer’s buying process is not only very important for your salespeople, it will also enable you to align your sales strategy accordingly.
How do you decide when choosing a product?
- Need recognition: first, we realize we have a need for a product
- Information search: we seek out information about the product by searching the Web or asking friends
- Evaluation of alternatives: we compare the choices available based on various attributes
What is customer value analysis
Customer Value Analysis (CVA) refers to a research method that is used to identify how an organization is perceived by consumers of an organization and their competitors.
What are the 5 buying decisions
Understanding the Five Buying Decisions Made During the Buyer’s Journey. Salespeople and marketers often focus on the sales process to track a commitment.
Different labels are put on selling steps, but generally they are seen as: identify, connect, discover, advise, and close.
What are the 7 steps of the buying process?
- Consumer Decision Making Process Infographic
- Stage 1: Need Recognition
- Stage 2: Information Gathering
- Stage 3: Evaluation of Alternatives
- Stage 4: Assess the Evidence
- Stage 5: Selecting an Option
- Stage 6: Implement the Decision
- Stage 7: Decision review and Evaluation
What are the 5 steps of selling?
- Approach the client
- Discover client needs
- Provide a solution
- Close the sale
- Complete the sale and follow up
How do I sell a product?
- Find your products
- Identify your niche market
- Conduct market research
- Create buyer personas
- Brand your business
- Build your e-commerce website
- Set up processes for payment, shipping, and staying in touch
- Create high-quality product content
What are 3 types of decision-making
Decision making can also be classified into three categories based on the level at which they occur.
Strategic decisions set the course of organization. Tactical decisions are decisions about how things will get done.
Finally, operational decisions are decisions that employees make each day to run the organization.
What are the 8 steps of selling?
- Step 1: Prospecting
- Step 2: Connecting
- Step 3: Qualifying
- Step 4: Demonstrating Value
- Step 5: Addressing Objections
- Step 6: Closing the Deal
- Step 7: Onboarding
- Step 8: Following Up
Citations
https://online.se.edu/articles/mba/gain-a-better-understanding-of-consumer-behavior.aspx
https://www.futurelearn.com/info/blog/how-to-understand-consumer-behaviour
http://www.shanlaxjournals.in/pdf/COM/V4N3/COM_V4_N3_020.pdf
https://www.indeed.com/career-advice/career-development/types-of-buying
