Understanding the Consumer Decision-Making Process

The video explains the five-stage consumer decision-making process: recognition of need, information search, evaluation of alternatives, purchasing decision, and post-purchase evaluation. It highlights the importance of understanding this process for marketing and sales, providing examples like Jenny's purchase of a fitness tracking watch. The video also discusses the benefits for companies, such as gaining leverage over competitors and increasing sales. Viewers are encouraged to engage by leaving comments and subscribing.

What is the primary goal of understanding the consumer decision-making process?

• To increase product prices

• To improve marketing and sales strategies

• To reduce production costs

• To eliminate competition

In the Recognition of Need stage, what can trigger a consumer's acknowledgment of a need?

• A competitor's product

• An internal or external stimulus

• A price drop

• A product recall

Which of the following is an example of an internal stimulus?

• A TV advertisement

• A social media post

• Hunger

• A friend's recommendation

During the Information Search stage, what is a passive way consumers might gather information?

• Reading online reviews

• Testing products in-store

• Speaking with friends

• Viewing advertisements

What is the main activity in the Evaluation of Alternatives stage?

• Making a purchase

• Writing a review

• Comparing different products

• Returning a product

Which factor is NOT typically considered when evaluating product alternatives?

• Brand awareness

• Price

• Color of the packaging

• Features

What happens in the Purchasing Decision stage?

• The consumer returns the product

• The consumer decides on a product to buy

• The consumer evaluates the product

• The consumer writes a review

In the Post-Purchase Evaluation stage, what might a satisfied consumer do?

• Return the product

• Complain to the retailer

• Leave a positive review

• Ignore the product

How can understanding the consumer decision-making process benefit companies?

• By reducing employee salaries

• By limiting product availability

• By increasing product defects

• By developing better marketing strategies

What is a potential outcome of effectively leveraging the consumer decision-making process?

• Increased sales and customer base

• Lower product quality

• Decreased market reach

• Higher production costs