No, consumer purchase intention and consumer purchase decision are not synonymous, but they are closely related concepts in the field of consumer behavior.
Consumer Purchase Intention: Consumer purchase intention refers to the likelihood or willingness of a consumer to buy a particular product or service in the future. It is an expression of the consumer's mindset or inclination to make a purchase under certain conditions. Purchase intention is influenced by various factors, such as advertising, product features, brand perception, personal preferences, and external influences.
For example, if a consumer is interested in buying a new smartphone and actively considering different models, their purchase intention may be high. However, their final decision to make the purchase will depend on several other factors that could influence them during the decision-making process.
Consumer Purchase Decision: Consumer purchase decision, on the other hand, refers to the actual action taken by a consumer to buy a product or service. It is the outcome of the consumer's evaluation of alternatives and the choice made to complete the purchase. The decision may be affected by factors like price, product availability, brand reputation, peer recommendations, and overall satisfaction with the product or service.
Using the same smartphone example, the consumer's purchase decision would be the specific brand and model they choose after comparing features, reading reviews, and considering pricing.
In summary, purchase intention comes before the purchase decision. It represents the consumer's mindset and their inclination to buy, whereas the purchase decision is the actual action taken by the consumer to make the purchase based on their evaluation of available options. Both concepts play a crucial role in understanding consumer behavior and are vital for marketers to consider when developing strategies to attract and retain customers.