{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

CLEP Principles of Marketing Study Notes

The buying decision process for high involvement

Info iconThis preview shows pages 6–7. Sign up to view the full content.

View Full Document Right Arrow Icon
The buying decision process for high-involvement consumer purchases is similar to that of new-task purchases by organizations. New-task purchases use a similar five-step process as high-involvement consumer purchases . Both require much research and information gathering, and evaluating alternatives . Low-involvement consumer purchases involve a similar buying decision process as straight rebuy purchases made by organizations. Straight Rebuy purchases are routine purchases made by companies, just like low- involvement purchases are routine, low-risk purchases made by consumers. They involve a similar three-step processes. 5 different categories of people who affect the decision making process in organizational purchases. 1. Buyers are responsible for selecting suppliers and actually negotiating the terms of purchase. Carry out the purchasing procedures . 2. Users - ones who actually use the product being acquired. 3. Influencers - usually technical personnel, such as engineers, who help develop the specifications and evaluate alternative products. When the products being considered involve new, advanced technology , technical personnel are especially important influencers. 4. Gatekeepers - people such as secretaries and technical personnel who control the flow of purchase-related information within the organization. Control the flow of information. 5. Deciders - people in an organization who make the buying decision, actually choosing the products and vendors . Make the final purchase decision. Buying Center - group of people within an organization who are involved in making organizational purchase decisions, and includes five categories of people: users, influencers, buyers, deciders, and gatekeepers. All the people who participate in or influence the buying decision-making process. PART III Consumer products - purchased by individuals for final consumption. Consumer goods can be broken down further categories (involving different levels of involvement) into: 1. Convenience Goods - which are purchased routinely using low-involvement decision-making. Products which are routine and low-risk, and entail a low level of involvement from the consumer. 2. Shopping Goods - require high-involvement decision making; buyers typically spend time to compare stores and brands with respect to prices, product features, qualities, etc. they may be expensive , high-risk, or personally important to the buyer. 3. Specialty product types - Characterized by strong brand loyalty ; buyers know exactly what they want and will not accept a substitute. Buyers are willing to expend considerable effort, often as much as it takes, to find and purchase their brand. Examples of specialty products are Ferrari cars, Picasso paintings, etc. . Industrial products
Background image of page 6

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page6 / 28

The buying decision process for high involvement consumer...

This preview shows document pages 6 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online