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What is the first step in the consumer purchase decision process?
ARecognizing a need, such as running out of coffee
BComparing the prices offered by two rival stores
CDeciding whether the purchase should be financed
DJudging how satisfying the purchase turned out
Answer & Solution
Correct answer: A. Recognizing a need, such as running out of coffee
1. The consumer decision process starts with need recognition.
2. That recognition can be as simple as running out of coffee.
3. It can also build over months, as when repeated car repairs push a buyer toward a new car.
4. Price comparison belongs to the later evaluation step and satisfaction is judged at the end.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.4 Buyer Behavior_
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