The consumer buying decision process has five steps. The first step is the recognition that they have a need or a problem that they need to satisfy (Aliyev et al., 2019). The second step is to search for information on the way they can satisfy the need. The third step is to evaluate the existing alternatives in the market on how the need can be satisfied. The fourth step is to select the product or service from the alternatives that exist in the market (Aliyev et al., 2019). Lastly, the consumer will evaluate the decision that he or she has made on whether it efficiently satisfies his or her needs.
The customers of our car dealership who seek to purchase a luxury automobile would first have to recognize that they have a need for a luxury automobile. Second, they will conduct an information search on the type of luxury automobile that will meet their needs (Sakthivel & Kumar Senthil, 2017). Third, the customers will visit different automobiles to evaluate the types of luxury automobiles that are in the market that can satisfy their needs. Fourth, from the available alternatives that they see in the market, the customers will select a luxury automobile that meets their requirements (Sakthivel & Kumar Senthil, 2017). Lastly, from driving the automobile, they will evaluate whether the purchase decision they made was the best. This will inform the likelihood that they would come to make other purchases from the company in the future.
Given the above findings on the process of the consumer buying decision, some of the changes that the company can make in its marketing mix include making their products to be easily accessible from a quick internet search. This will inform the change in the place component of the marketing mix. The company can also provide a detailed description of each of its luxury products to make it easier for the consumer to identify the product that they need (Sakthivel & Kumar Senthil, 2017). This will inform instituting a change in the product component of the marketing mix. Additionally, the company can promote the provision of car experts who can assist the customer in making a decision that they would not regret. This will inform the changes in the promotion component of the marketing mix. Lastly, the company can make changes in its pricing of the products to make them competitive against rivals. This will inform a change in the price component of the company’s marketing mix.
Some of the actions that the company can take to encourage loyalty among the customer base include providing warranties on parts of their luxury cars, such as the braking system of the vehicle, the electronics, and the vehicle’s suspension (Sakthivel & Kumar Senthil, 2017). Equally, the company can offer discounted maintenance services for customers who purchase their cars from the dealer, and this will encourage customer loyalty.