Explain three of the seven phases of the impulse purchase cycle.

Answer

The impulse purchase cycle consists of phases that a consumer goes through when making an impulsive purchase. Three key phases include need recognition, where a consumer acknowledges a desire, searching for information, where they look for products, and evaluating of alternatives, where they compare options before making a purchase. Each of these phases plays a key role in influencing the decision to buy impulsively.

Explanation

The impulse purchase cycle is a consumer behaviour model that depicts the steps involved when a person makes an impulsive purchase decision. It typically consists of seven phases, three of which are detailed below:

1. Need Recognition: This is the first phase where a consumer recognizes a need or want, which can be triggered by various factors such as emotional states (e.g., stress or excitement) or environmental cues (e.g., special offers or advertisements). For instance, seeing a sale sign might create a sense of urgency to buy something not initially needed.

2. Search for Information: In this phase, the consumer actively seeks information that will satisfy their need or desire. They may browse online reviews, get recommendations from friends, or look at products in stores. Instead of a deliberate search, this may also occur casually, like scrolling through social media and discovering a product that catches their eye.

3. Evaluation of Alternatives: Once the consumer has gathered some options, they evaluate the various alternatives available. This involves comparing products based on factors like price, quality, brand, and personal preferences. For example, if a shopper is drawn to two different brands of shoes, they might compare the styles and prices to decide which one they want to purchase impulsively.