ECONOMICS

Detailed explanation-1: -Problem/Need-recognition is the first step in the buying decision. Without knowing what the customer needs, they will not be enticed to purchase the product. The need can be triggered by internal stimuli (e.g. hunger, thirst) or external stimuli (e.g. advertising).

Detailed explanation-2: -The consumer decision-making process involves five basic steps. This is the process by which consumers evaluate making a purchasing decision. The 5 steps are problem recognition, information search, alternatives evaluation, purchase decision and post-purchase evaluation.

Detailed explanation-3: -What Is Need Recognition? Need recognition is the first step in consumer buying behavior and is also called problem identification.

Detailed explanation-4: -Alternative evaluation. Once the information collected, the consumer will be able to evaluate the different alternatives that offer to him, evaluate the most suitable to his needs and choose the one he think it’s best for him. In order to do so, he will evaluate their attributes on two aspects.