Mr Cany

Problem Recognition- The buyer recognizes a problem or need triggered by internal or external stimuli.

Information Search- Through gathering information, the consumer learns about competing brands and their features. An active information search: looking for reading material, phoning friends, going online, and visiting stores to learn about the product. As the consumer gathers more information the choice set, will remain strong contenders.

Evaluation of Alternatives- In the evaluation stage, the consumer forms preferences among the brands in the choice set.

Purchase Decision- The consumer makes a final choice from the set to purchase the most preferred brand.

Postpurchase behavior- After the purchase, the consumer might experience dissonance that stems from noticing certain disquieting features or hearing favorable things about other brands and will be alert to information that supports his or her decision. If the consumer is satisfied, she is more likely to purchase the product again. Dissatisfied consumers may abandon or return the product.

Customer-perceived value is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

Total customer benefit is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the products, services, personnel, and image involve. Total customer cost is the perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychological costs.

The customers have a distinct set of needs; they will pay a premium to the firm that best satisfies them; the niche is fairly small but has size, profit, and growth potential and is unlikely to attract many other competitors; and the nicher gains certain economies through