The Consumer decision making process Essay Example | Topics and Well Written Essays - 500 words

The Consumer decision making process - Essay Example The various aspects of the Consumer Decision Making process are analysed in this paper. Reference is also made to the potential challenges that this process can set for marketers. It should be noted that a particular case has been used as an example for understanding the various phases of the process: if an individual would have to decide to buy a newspaper would he use different criteria, in the context of the above process, than if he would have to decide to buy a house? In the context of the first phase of the CDMP, the needs of the consumer in the particular point of time have to be identified (Varey 2002, p.56). In the question under examination, the potential buyer of a newspaper will realize his need to buy the newspaper; in the same context, the potential buyer of a house will realize his need to buy a house. After realizing the need for buying a product/ service, the consumer has to start searching for the particular product/ service (Burrow & Bosiljevac 2011, p.106). In practice, the above phase can be understood through the following example: the individual who is interested in buying a newspaper needs to search for a newspapers stand. An individual who is interested in buying a house has to visit a real estate agent or start checking advertisements for houses. In this phase of the process, ‘the alternatives available are evaluated’ (Burrow & Bosiljevac 2011, p.106). At this level, it is possible for a consumer to use different criteria for his buying decisions when different needs are in place (Varey 2002, p.56); for example, for buying a newspaper a criterion of quality/ content and price will be used. For buying a house price can be a leading criterion, depending on the financial status of the buyer. In the case of the house its ability to keep its quality standardized in the long term can be also a priority, according to the criteria set by the buyer. In this phase, the consumer needs to purchase the product/ service