Evaluation of Alternatives - Consumer Decision Making Process

Evaluation of Alternatives With the information in hand, the consumer proceeds to alternative evaluation, during which the information is used to evaluate” brands in the choice set. Evaluation of alternatives is the third stage of the buying process. Various points of information collected from different sources are used in evaluating different alternatives and their attractiveness. While evaluating goods and services, different consumers use different bases. Generally, the buyer evaluates the alternatives based on the product’s attributes, the degree of importance, belief in the brand, satisfaction, etc. to choose correctly. A marketer must know how the consumer processes information to arrive at brand choices. Consumers do not always follow a simple and single evaluation process. Rather several evaluation processes are in practice. Consumer evaluation processes can be explained with the help of some basic concepts. 1. First, it is assumed that each consumer sees a product as a bundle of product attributes. For refrigerators, product attributes might include cooling capacity, size, space, price, and other features. Buyers will pay more attention to those attributes relevant to their needs. 2. Second, the importance of depending upon their needs and wants. 3. Third, the consumer will develop a set of brand beliefs about where each brand stands on each attribute. The set of beliefs buyers hold about a particular brand is called brand image. Based on the buyer’s experience and the effects of selective perception, distortion, and retention, the consumers’ beliefs may differ from actual attributes. 4. Fourth, the consumer’s expected total product satisfaction will vary with the changes at the levels of different attributes. 5. Fifth, the consumer develops attitudes toward the different brands through some evaluation procedure. Buyers use one or more of several evaluation procedures, depending on the consumer and the buying decision. The mode of evaluating purchase alternatives depends on the individual consumer and the specific buying situation. In some instances, consumers apply meticulous calculations and logical thinking. In other situations. The same consumers may not make any evaluation. Rather they buy on impulse and use intuition. Sometimes consumers themselves make buying decisions. At other times they rely on friends, consumer guides, or salespeople for buying advice. Marketers should study buyers to know how they evaluate brand alternatives. Marketers can take appropriate steps to influence the buyer’s decision to know what the buyers follow evaluative processes. 4. Purchase Decision At this stage of the buyer decision process, the consumer buys the product. After the alternatives have been evaluated, consumers decide to purchase products and services. They decide to buy the best brand. But their decision is influenced by others’ attitudes and situational factors. Usually, the consumer will buy the most preferred brand. But two factors might influence the purchase intention and the purchase decision. The first factor is the attitudes of other people related to the consumer. The second factor is unexpected situational factors. The consumer may form a purchase intention based on factors such as expected price and expected product benefits. 6. However, unexpected events may alter the purchase intention. Thus, preferences and even purchase intentions do not always lead to actual purchase choice 5. Post-Purchase Evaluation In the buyer decision process’s final stage, post-purchase-purchase behavior, the consumer takes action based on satisfaction or dissatisfaction. In this stage, the consumer determines if they are satisfied or dissatisfied with the purchasing outcome. Here is where cognitive dissonance occurs, “Did I make the right decision.” At this stage of the buyer decision process, consumers take further action after purchase based on their satisfaction or dissatisfaction. What determines whether the buyer is satisfied or dissatisfied with a purchase? The answer lies in the relationship between the consumer’s expectations and the product’s perceived performance. If the product falls short of expectations, the consumer is disappointed; if it meets expectations, the consumer is satisfied; if it exceeds expectations, the consumer is delighted.