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nds on the consumer and the buying situation. ? Most buyers evaluate multiple attributes, each of which is weighted differently. ? At the end of the evaluation stage, purchase intentions are formed. Process Stages 20 The Buyer Decision Process ? Need recognition ? Information search ? Evaluation of alternatives ? Purchase decision ? Postpurchase behavior ? Two factors intercede between purchase intentions and the actual decision: ? Attitudes of others ? Unexpected situational factors Process Stages 21 The Buyer Decision Process ? Need recognition ? Information search ? Evaluation of alternatives ? Purchase decision ? Postpurchase behavior ? Satisfaction is important: ? Delighted consumers engage in positive wordofmouth. ? Unhappy customers tell on average 11 other people. ? It costs more to attract a new customer than it does to retain an existing customer. ? Cognitive dissonance is mon Process Stages 22 Buyer Decision Process for New Products ? New Products ? Good, service or idea that is perceived by customers as new. ? Stages in the Adoption Process ? Marketers should help consumers move through these stages. 23 Stages in the Adoption Process Buyer Decision Process for New Products ? Awareness ? Evaluation ? Interest ? Trial ? Adoption 24 Buyer Decision Process for New Products ? Individual Differences in Innovativeness ? Consumers can be classified into five adopter categories, each of which behaves differently toward new products. ? Product Characteristics and Adoption ? Five product characteristics influence the adoption rate. 25 Adopter Categories Buyer Decision Process for New Products ? Innovators ? Early Majority ? Early Adopters ? Late Majority ? Laggards 26 Product Characteristics Buyer Decision Process for New Products ?