COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Alternative evaluation
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Post-purchase evaluation
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Information searching
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Need identification
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Detailed explanation-1: -Post-Purchase Evaluation. This is the last stage and is most often ignored by marketers. After buying the product, customers compare products with their expectations. There can be two outcomes: Either satisfaction or dissatisfaction.
Detailed explanation-2: -Evaluation of alternatives (consideration): This is the stage when a customer is comparing options to make the best choice. Purchasing decision (conversion): During this stage, buying behaviour turns into action – it’s time for the consumer to buy.
Detailed explanation-3: -Post-Purchase Evaluation. The last stage of the consumer buying cycle is the post-purchase evaluation. After purchasing the product, the customer weighs up their purchase and compares it to their overall expectations. This either leads to satisfaction or dissatisfaction.
Detailed explanation-4: -Consumer purchases made when a need is identified and a habitual ("routine") purchase is made to satisfy that need. Purchasing decisions made out of habit. The first stage of the Consumer Decision Making Process, need recognition takes place when a consumer identifies an unmet need.