What are the five stages of the consumer buying process? Through market research a consumer gathers information about the competing brands of a product and their features. The consumer then advances through four sets with respect to brands before a decision is reached. What are those four sets?
According to Kotler & Lee (2005), consumer buying process is a psychological process that plays an important role in understanding how consumers actually make their buying decisions. Consumer buying process helps individual decide what the specifications is that is wanted in the product. The five stages of consumer buying process are: Problem or Need Recognition: Consumer buying process's first step is problem or need recognition. For consumer to buy goods or service they should have clear idea as to what is needed from the product. This step helps to identify the specific need that consumer wants in the product which they want to buy. Information Search: After recognizing the need, information about the need is searched about the product. Informations like features, added benefits, and advantages of the product are searched. Through various sources like internal search and external search required information is gathered. Evaluation of Alternatives: After se...