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Consumer Buying Behavior Summary

Consumer buying behaviour and its determinants

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7 views

Consumer Buying Behavior Summary

Consumer buying behaviour and its determinants

Uploaded by

masshari103
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Detailed Summary of Consumer Buying Behavior

1. Introduction to Consumer Buying Behavior

Consumer buying behavior refers to the decision-making process and actions of consumers when

purchasing goods or services. It is crucial for marketers to understand as it helps in creating

effective marketing strategies that influence buying decisions.

Understanding consumer behavior allows businesses to meet customer needs, anticipate market

changes, and remain competitive.

2. Types of Consumer Buying Behavior

- Complex Buying Behavior:

Occurs when consumers are highly involved in a purchase and perceive significant differences

between brands. This type of behavior is common in high-value or infrequent purchases, such as a

car or house.

- Dissonance-Reducing Buying Behavior:

This happens when consumers are highly involved but see little difference between brands. They

may experience post-purchase dissonance, meaning they worry about making the wrong choice,

like when buying a durable good such as furniture.

- Habitual Buying Behavior:

Occurs when consumers show low involvement in a purchase and there is little brand difference.

This is typical for routine purchases like groceries or toiletries.


- Variety-Seeking Buying Behavior:

When consumers are not highly involved but perceive significant differences between brands, they

engage in variety-seeking behavior. For example, a consumer may switch between different brands

of snacks out of curiosity rather than dissatisfaction.

3. Factors Influencing Consumer Buying Behavior

- Psychological Factors:

- Motivation: What drives the consumer to make a purchase.

- Perception: How consumers interpret information and experiences.

- Learning: Changes in behavior arising from experiences.

- Beliefs and Attitudes: Preconceived notions about products or brands.

- Social Factors:

- Family: Family members influence each other's buying decisions.

- Reference Groups: Groups that an individual looks to for guidance.

- Roles and Status: The role someone occupies in a social group affects their buying choices.

- Personal Factors:

- Age, Occupation, Lifestyle: These personal traits affect buying behavior.

- Economic Situation: Financial status significantly influences what and how people buy.

- Cultural Factors:

- Culture: Shared values, beliefs, and norms influence consumer preferences.

- Subculture: Smaller groups within cultures may have distinct preferences.

- Social Class: A consumer's social standing often correlates with their spending habits.
4. The Consumer Decision-Making Process

- Problem Recognition:

The consumer realizes they have a need or a problem that requires a solution. This need can arise

from an internal or external stimulus.

- Information Search:

Consumers seek out information about how to satisfy their needs, which could involve an internal

search (memory) or an external search (friends, family, advertisements).

- Evaluation of Alternatives:

The consumer evaluates different products or brands to determine which will best meet their needs

based on factors like price, quality, and features.

- Purchase Decision:

After evaluating alternatives, the consumer makes a purchase decision. The final decision can be

influenced by factors such as brand loyalty, sales, or peer recommendations.

- Post-Purchase Behavior:

Post-purchase evaluation can result in satisfaction or dissatisfaction. Marketers strive to ensure

positive experiences to foster brand loyalty.

5. Emerging Trends in Consumer Buying Behavior

- Influence of Social Media:


Social media platforms have become a powerful tool in shaping consumer opinions and decisions.

Influencers, reviews, and social sharing impact how consumers perceive brands and products.

- Rise of E-commerce:

Online shopping has transformed the way consumers buy products. E-commerce offers

convenience, variety, and personalized experiences, which are reshaping consumer buying

patterns.

- Ethical and Sustainable Consumption:

Consumers are increasingly considering the ethical and environmental impact of their purchases.

Companies that promote sustainability and ethical practices are gaining favor with modern buyers.

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