Consumer Decision Making A key factor in successfully marketing new/existing products or implementing a product Extension is an in-depth understanding of motivation, learning, memory and decision making that influence consumer purchasing behavior. Theories of consumer purchasing behavior have found their way into managerial decision making to help companies more effectively develop and launch new products, segment the market, determine market entry, and brand management. Therefore, a better understanding of how consumers decide what to buy is critical to a product's success. . There are numerous theories and models that describe the consumer purchasing decision-making process. The basic concept behind these theories and models is similar. Below are five steps that describe the consumer's purchasing decision, followed by a brief description. Problem recognition2. Search for information3. Evaluation of criteria4. Purchase decision5. Post-Purchase EvaluationRecognition of the problem is simply the awareness of a need. The need can be perceived or real. The problem recognition process happens every time consumers decide they need something, whether it's toilet paper or a new home. This is the first and most fundamental step in the purchasing decision process. Marketers can effectively raise consumer awareness of a need with the right advertising campaign. For example, concession advertising before the start of a feature film is aimed at making viewers aware that they "need" a drink and a snack. Information search is the process in which consumers gather information on a... medium of paper ......ucts. Reference groups can be thought of as any group that has an influence, positive or negative, on an individual. Social class directly and indirectly affects the purchasing decision. Annual family income is used to define social status and also places limits on family spending. Culture impacts the purchasing decision-making process as people's values, ideas and attitudes are shaped by the culture in which they reside. Conclusion Companies are better able to market their products to consumers if they have a good understanding of consumers and the basic purchasing decision process. By understanding the consumer and the type of purchasing behavior associated with different products, marketers are more likely to create a marketing campaign that positively influences the consumer's purchasing decision.