Name: Shivam Shukla

Roll No: 20PGPMWE022@iimraipur.ac.in

 
Consumer Decision Making Process & Purchase Journey-
 
Here will be the evaluation process in which we will be explaining the concepts,
findings and my view as an individual of decision-making process performed by the
two consumers in our presentation and interview. Here will be the detailed
explanation of the experience of product, good or the services we are about to take
or purchase.
 
The consumer story: We have interviewed two distinct set of consumers having
totally different requirements from each other. Also, their position as a consumer
(commercial and personal) were different too.
Consumer-1 was an Automobile Manager (Automobile engineer himself) at a Steel &
Power company with the requirement of purchasing tyres for all cars and commercial
vehicles.
Consumer-2 was a young individual looking for purchasing a two-wheeler for personal
user, with the ad-hoc requirement for small business use as well.
Both of these consumers are motivated with different aspects on their purchase
journey and carry different psychological assessments during their decision-making
process.
 
The decision & purchase journey:
By interviewing two set of individuals we have identified that both of the
consumers acts in a certain way which is motivated by totally different means while
making their buying decision. This might help companies to improve their marketing
strategies and be more successful in the market. We also understood how the
consumer’s environment like culture, family, media, position etc. influence them on
their decision.

For consumer-1- who belongs from an Industry which is having a continuous buying
pattern. Industry consumers go for selecting vendor by bidding process and after
that vendor provides the product.

For consumer 2- the process starts with identifying personal and work-related
needs, then moved to online research of available products. Once shortlisted
online:-
A) He moves to see those products in showroom.
B) Staff behaviour, post first enquiry behaviour.
C) Repeated follow-ups.
D) Product knowledge with staff.
E) Influence from the other industry experts were major driving forces.
 
 
What works and What not:
One common thing within both the comsumers played an important role in purchase
decision, is product knowledge communicated by the seller.

For consumer-1 Theyare following guideline of their industrial purchase made by

their company and evaluating the seller/bidder on the basis of technical
qualification and then finalized bidder by financial qualification.

For consumer-2 The buying decision was majorly influenced by less product knowledge
communicated by a sales person resulted in not buying, and a detailed product
knowledge communicated by other sales person of other brand which results in
purchase. The product knowledge provided by the owner as well play a major role in
purchasing decision.
Then, there are many different aspects which works for consumer-1 and 2
respectively and are very distinct in nature and need.
Like
for consumer-1 what works is the data provided by bidder’s and
for consumer-2 its in-person experience by visiting different show rooms.
For consumer-1 technical specification and heavy-duty performance product was a key
thing to look into, however
for consumer-2 fuel efficiency, durability and cost is the deciding factor.
 
My views as an individual: After listening to both the individuals and going
through the presentation carefully one thing is clear the the consumer of this ear
is informed, is not taking its decision in a hurry or only by influence. They had
done their homework and are well informed about the product. In different sectors
the marketing campaigns, deciding factors and consumer needs vary a lot, and we can
do a solution which is kind of “one-size-fits-all” kind.
So, the marketers in this ear needs to be more specific, have the granular level
detail on their product or service, and also communicate product knowledge very
effectively to the consumers. Marketers or companies need to make sure that the
face of their company to which the consumer interreacts (sales person or bidding
agent in our cases) have to have the complete product knowledge and knows how to
communicate it effectively. The general factors across sectors stays the same and
impact on buying decisions like cost, competitive advantage, feature, durability,
performance etc.

Consumer should be well aware about the product and should not work on their
decision through any influence.