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5 Stage Model of Purchase Decision Process & Purchase Involvement

In bold below there is a list of three product categories. Within the product categories listed below identify TWO purchases you have made. ONE must be a High Involvement purchase, and ONE a Low Involvement purchase. The two purchases can be from the same product category, or from two different product categories, as appropriate:

Computer software (e.g. game or app/application)
Underwear
Restaurant

Applying the teaching materials, explain why one product purchase was a High Involvement purchase and the other was a Low Involvement purchase.

Using the five stage model of the Purchase Decision Process in the model of consumer buying behavior described in Module 1, describe in detail the process you went through in making each purchase. Bear in mind that the purpose of the assignment is to demonstrate the depth of your understanding of the teaching materials.

Identify and discuss the differences between the way you went through the purchase decision processes for the two products.

Assume now that you are marketing brands in two of the product categories listed above. Applying only the teaching materials, specifically the presentation "Uses of a Model of Buying Behavior", explain how you might use your understanding of the Model of Consumer Buying Behavior in marketing the two products. (Note that you are asked to APPLY the teaching materials, and thus simply listing what marketers can do in general is not sufficient. You should think about what is explained in the teaching materials and then apply that learning to two of the product categories listed above).

In your response, include:

The difference between goods and services.
What is meant by Involvement and why it might be high or low.
The stages of the Purchase Decision Process, (PDP) and
How a potential buyer might follow this process
How the differences between High and Low Involvement affect the way someone might follow the PDP
How marketers might use their understanding of the model of buying behavior including the PDP to:
Segment a market, including explaining what is meant by segmentation and why segmentation can be useful in marketing.
Influence purchase probabilities as indicated in the relevant presentation.

Solution Preview

Introduction

There are different stages in purchase decision process that is being analyzed by a consumer before making any purchase. Every product has to go through this purchase decision process of consumer to make them purchase. In this paper, computer software is taken as high involvement purchase and underwear is taken as low involvement purchase product to determine the purchase decision process of consumer. The paper will describe the five stage model of purchase decision process related to each product and the difference between each product purchase decision.

High and Low Involvement Purchase

The purchase of computer software was a high involvement purchase because it requires high consideration of the customer before making the purchase as its price is also comparatively high and there are so many things associated with this like its effectiveness to different programs and applications (Desmond & Stone, 2007). It is also because it requires considerable amount of time to determine its pros and cons before purchasing computer software. Additionally, it also requires taking effective suggestions from the experts of that particular software.
Apart from this, the purchase of underwear does not require enough time to purchase as one do not have look for its pros and cons and it also has comparatively low prices (Lantos, 2010). At the same time, it generally does not look for brands and bears a low level of risk associated with this.

Purchase Decision Process

In order to make purchase of the both high as well as the low involvement product, the same process of purchase decision was followed. Basically five stage model purchase decision process was used to purchase the products:
Need recognition and problem awareness: Under this process, the need of having computer software or underwear is identified. The need for the product is being evaluated on the basis of problem created due to lack of these products. Both the products are having same need recognition and problem (Smith & Zook, 2011). Consequences of lack of both the products are identified with this process.

Information Search: Under this stage, all the relevant source of information is being evaluated to find relevant knowledge regarding the product. In order to purchase computer software information is searched on internet and also with friends those are using that specific software. In relation ...

Solution Summary

The solution is styled as a mini essay comparing the decisions made for a few products according to the 5-stage model and involvement of purchasing. 1459 words with 6+ references.

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