Affect of Social Media on Consumer Buying Decision Process

Problem recognition, information search, alternative evaluation, purchase decision and post-purchase behavior are all phases of consumer buying decision process. However, nowadays with Social Media on a rise, how has it affected the consumer buying decision process?

Before the social media revolution most of purchasing decisions involved primarily advertisement in the form of print media, radio and television. This form of media is considered to be a one-way street where you can read a newspaper or listen to a report on television/ radio, but you have very limited ability to give your thoughts on the matter. Social media, on the other hand, is a two-way street that gives people the ability to exchange thought and ideas, and communicate with one another on whatever topic or matter they choose to discuss. One of the most popular social networking websites, such as Facebook is considered to be a marketplace for consumer information. Today, a typical consumer can research a brand on Facebook and immediately tap into a plethora of conversations about a brand or product. These conversations often-times involve real people who have already bought the product or are considering buying the product. Positive or negative product reviews are posted for all to see. Facebook makes sure that these product reviews don't occur behind closed doors, but, occur in a forum setting where discussions occur in an open and objective setting. As a result one step, information search, of consumer buying decision process has been seriously influenced by social media. With social media consumers now can have access to anything they need to know about the particular purchase they want to make with just a few clicks of a mouse. It is pretty phenomenal and it is all thanks to power of social media.

Sources:
http://www.ehow.com/how-does_5438201_consumer-buying-decision-process.html
http://www.articlealley.com/article_1769428_3.html?ktrack=kcplink