Assignment 2 Executive Summary of M3 Assignment 2

Assignment2: Executive Summary of M3: Assignment 2

ExecutiveSummary

Statementof the problem

Theresearch was conducted with an aim of evaluating of the consumersbuying behavior from a marketer point of view. The motivation for theevaluation was to understand the stages that consumers go throughwhen purchasing a given product or service online. The following arethe five decision-making stages that online consumers go through whenmaking a purchase decision. The first stage involves awareness aboutthe existence of a particular product in the market. Under this stageonline promotion and advertisements are important platforms wherecustomer’s awareness is created. The second stage entailsinformation search where customers start finding more about aparticular product that they have identified. They carry out theirsearch via the internet before making any purchase decision. Thethird stage is an alternative evaluation. Consumers compare a productthey have discovered with other products that are available online tofind out which product suits their needs.

Fourth stage involves making purchase decision after consumers areconvinced that a particular product will adequately meet their needs.However, proper evaluation of the seller should be done because someonline vendors are dishonest and criminals. Some vendors may end uptaking customers money and fail to deliver the product. The fifthstage is post purchase behavior where customers may decide to returnthe product if they found that it was faulty. The study has alsodiscussed both internal and external factors influence consumersbuying behaviors such as social factors, shopping habits among otherfactors (Chen, &amp Chang, 2003). The product selected for thepurpose of the evaluation was a computer.

Evaluationof the research findings

It was also found that when buying a computer program onlineconsumers go through the five stages discussed. They recognize theproblem and search information from various online platforms such ase-bay, OLX among other sites. Later they evaluate the alternativecomputer programs available and make the decision to buy. In case thecomputer purchased online has been delivered and found that it wasfaulty, consumers may exercise post purchase behavior. They mayreturn it in exchange of another. Research findings indicate thatvarious factors influence consumer’s online shopping decision. Someof those factors include product availability, information, cost, andconvenience. Online resources such as company websites providecustomers with a variety of computers to choose from. Cosnumers canvisit various sites that sell computer and look for the price of theparticular program they are looking for (Chen, &amp Chang, 2003).

Theavailability of numerous online vendors provides customers with theautonomy of selecting by the best computer that fulfills their needs.Availability of information also influences consumers’ decisionwhen buying a product online. Customers can check different sites togather more information about the products. They may also go throughan online review and see what other customers are saying regardingparticular products. Cost also influences the online purchasedecision. Some online vendors tend to have better price deals thanothers which consequently affects the decision to buy a givencomputer program. Online shopping is convenient because customers canshop at any time even after physical stores have been closed (Chen, &ampChang, 2003).

Conclusionand recommendation

It can be observed that customers tend to go via the following stageswhen making online purchase decisions awareness, recognition of theproblem, searching information, evaluating alternatives, making apurchase decision, and post-purchase behavior. Conclusively, buyingbehavior tend to be influenced by tending to be influenced by theavailability of the product, information, cost, and convenience.

Iwould recommend marketers to understand the stages that onlineconsumers go through when making their purchase decisions. Theyshould also be aware of the factors that influence customers topurchase decision so that they can know how to convince customer buyproducts offered by their organizations.

References

Chen,S. J., &amp Chang, T. Z. (2003). A descriptive model of onlineshopping process: some empirical results. InternationalJournal of Service Industry Management,14(5),556-569.