Buisness Consumer buying behavior Assignment Sample
Consumer buying behaviour
The buying behavior of consumers is influenced by their own personalities. However, these traits do not remain the same throughout a person’s life. Consumption behavior is also affected by the occupation and income level of consumers. In terms of apparel, food, automobiles, etc., a doctor and a software engineer will have different buying patterns. The lifestyle patterns of consumers with similar backgrounds, occupations, and income levels may differ. No matter how big or small the purchase, we need to follow these steps every time. What varies is how much time we spend in each stage.
This paper discusses my recent purchase decision to buy a laptop and the steps that led to this decision through each buying behavior. The buying behavior of consumers is described by the actions they take before purchasing a product. Search engines can be used, social media posts can be made, or any number of other activities can be undertaken.
There are two factors that influence consumer buying behavior. Purchasing behavior is defined by two factors: how much a consumer is involved in the decision making process and how important and intense is an interest in a product in a particular situation. Another factor that determines whether the buyer is motivated to obtain information about specific products and brands and to disregard others is the level of involvement of the buyer.
In this section, I describe each buying behavior in the 5 step model as a path towards the purchase. Buying consists of five steps: recognizing a need, searching for information, evaluating alternatives, making a decision, and following up afterward. A buyer’s journey begins before they make a purchase, and it continues long afterward. When a customer buys a product or service, companies need to understand the process they go through. Customers can be influenced by different marketing tactics at different stages of the process, such as sales, advertising, and follow-up calls. When customers make a purchase decision based on a rational model, they go through several steps logically before making a decision
The Buyer Decision Process
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Need recognition
- Need recognition is where the buyer recognises a problem or need. This need can be triggered by internal stimuli when one of the person’s needs -hunger, thirst- rises to a level high enough to become a drive.
- Comes from discrepancy between desired and actual state (Internal and External)
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Information search
- A consumer who is interested in more information may or may not search for it. The consumer is more likely to purchase a product if his or her drive is strong and a satisfying item is close by.
- It all depends on how strong the drive is, how much information you start with, how easy it is to obtain more information, how valuable the information is, and how satisfied you are when you succeed in searching it.
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Alternative evaluation
- The marketer must also know about alternative evaluation – the way the consumer evaluates information to arrive at a brand choice.
- Evoked set – mental list of brands that are acceptable
- Consumers use heuristics for simplifying decision-making (leading to an appreciation of switching costs and customer loyalty).
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Purchase decision
- The consumer will typically purchase the most preferred brand, but two things can interfere with their decision: other people’s attitudes and unexpected circumstances.
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Post-purchase behaviour
- The marketer’s job doesn’t end with the purchase decision, as consumers will either be satisfied or dissatisfied after the purchase, and will engage in post-purchase behavior. It is based on how consumers perceive the product’s performance against their expectations
- Psychological dissonance resulting from regret after a decision has been taken, caused by cognitive dissonance
Thus The consumer buyer behavior in situations of low consumer involvement but a significant perceived difference between brands. Consumers switch brands frequently and try new products. Leaders and minors use different marketing strategies in such situations. Therefore, these are the different factors and the steps that lead to this purchase through the 5 steps of the buying process.
Reference
Demandjump.com. 2021. What Is Consumer Buying Behavior?. [online] Available at: <https://www.demandjump.com/blog/what-is-consumer-buying-behavior> [Accessed 6 December 2021].
Bhasin, H., 2021. 5 steps in consumer buying behavior. [online] Marketing91. Available at: <https://www.marketing91.com/5-steps-consumer-buying-behavior/> [Accessed 6 December 2021].
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