SESSION 3:BUYING DECISION PROCESS

BUYING DECISION PROCESS

Ø  CULTURAL FACTORS

Ø  SOCIAL FACTORS

Ø  PERSONAL FACTORS

Ø  PSYCHOLOGICAL FACTORS

CULTURAL FACTORS: These factors include customer’s background and social class. LUX targets urban and semi urban, upper and middle class people and are affordable, hence manages to be the best selling soap.

SOCIAL FACTORS: These factors include reference groups, family and roles and status. Word of mouth also plays an important characteristic in this case. People suggest and thus buying decision of customers is affected. Their sales promotion activities like Gold coin in the soap etc. influences buying behavior.

PERSONAL FACTORS:  These factors include occupational, economic profiles, lifestyle and personality of the buyer. Lux is proud of its age and has been pampering the skin of generations now, and is associated with many celebrities, giving people an image of celebrities favorite. Hence on personal note, it influences buying decision of masses.

PSYCHOLOGICAL FACTORS: These include motivation, perception, beliefs and attitudes.(maslow need hierarchy).  Even if Fiama DI Wills is an FMCG product, some kind of thought plays an important role in buying decision of the customer, here maslow need hierarchy plays an important role.

 OTHER FACTORS like perceptions, memory etc also plays an important role in buying behavior of customers.

 BUYING DECISION PROCESS- 5 STAGE MODEL

1.      PROBLEM RECOGNITION:  Problem in the case of lux would be the need for a customer to buy natural skin smoothening, cost effective, good quality  fragranced soap for experiencing relaxed bathing experience

2.     INFORMATION SEEKING: Since lux is one of the established brand, I feel not much information seeking is important. Though information can be acquired by ad campaigns, suggestions by sales people, or internet (social network pages) etc.

3.     COMPARE ALTERNATIVES: Since lux gives wide range of soaps to be chosen according to the choice of fragrance and ingredients, consumers can wisely choose between all alternatives and since pricing is also very competitive, hence it is not low or high than its competitors, thus enabling to compare in the best possible way.

4.     PURCHASE DECISION:  In above steps, the customer has already made perceptions about the brand and has an intention of buying the most preferred brand. With consumer friendly prices, trust in the brand and options to choose from various varieties along with the brand image will help the customer in finally buying LUX soap over other soaps as a solution to the problem recognition.

5.     POST PURCHASE BEHAVIOUR: Once the product is sold, it is important for marketer to look for the post purchase behavior to, so as to maintain after sales relationship. The brand wants customer’s loyalty and would keep the quality excelled and in case of grievances, the problem should be solved and a better quality product should be promised.