Characterizing the Buyer Decision Process: the ZMOT model in Chile’s technology sector
Journal Title: RAN - Revista Academia & Negocios - Year 2017, Vol 3, Issue 1
Abstract
This study presents an updated application model that identifies the intervening factors in the buyer decision process. In traditional research, the consumer is said to confront two moments of truth before making the decision to buy: first, when encountering the gondola, and then again while experiencing the product. Nevertheless, innovations in information technology have modified this traditional view to include the “Zero Moment of Truth”, known as ZMOT, a name popularized by Google. This analysis is based on the concept of the Zero Moment of Truth which relates to the process that consumers live prior to the purchase decision in which they gather information about the product or service. This study is justified by the absence of research on the ZMOT concept in Chile. To determine the factors involved in the purchase decision, a quantitative methodology was used, through the application of a survey that analyzed three perspectives: the influencing factors during the purchase decision, the activities carried out during the ZMOT, and, finally, the actions carried out after the completion of the purchase and information that will serve for future buyers is gathered. With the data obtained, an exploratory factor analysis was carried out, generating a preliminary multi-dimensional model to describe the factors in the buyer decision process during the information and experience gathering phase known as ZMOT.
Authors and Affiliations
Manuel Escobar Farfan, Constanza Rojas Cuevas, Jose Urzua Rivera
Keywords
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