The Five Major Stages of the Consumer Buying Decision Process

question 226

Multiple Choice

The five major stages of the consumer buying decision process, in order, are

• A) information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation.
• B) problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.
• C) problem recognition, information search, evaluation of alternatives, postpurchase evaluation, and purchase.
• D) information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation.
• E) problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy.

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Definitions:

Long-Run Equilibrium

A state in a market where all firms are making normal profits, and there is no incentive for firms to enter or exit the industry.

Plaster

A building material used for coating walls and ceilings, which hardens after application.

Labor

The human effort, both physical and mental, that is used to produce goods and services.

Interest Rate

The percentage of a sum of money charged for its use, often expressed as an annual rate in the context of loans or savings.