Consumer buying behavior is the study of why people make certain purchases and the factors that influence their decisions. For complex and expensive purchases, consumers recognize a problem, research alternatives, make a decision, and evaluate their purchase. Personal, social, and intrinsic factors all influence buying behavior.
“Consumer buying behavior” is a term used to describe the actions and behaviors of people who buy and use products. This behavior is studied extensively in business, economics, psychology and sociology, and such research has a major influence on how products are marketed and sold. The central goal of studying consumer buying behavior is to determine why people make some purchases and not others. Having made this determination, the next step is to identify the particular factors that influence consumers to make purchasing decisions. Understanding these factors and the reasons behind a consumer’s buying tendencies is an essential part of developing a focused and effective marketing strategy.
Consumers buy different types of products in different ways. When purchasing a product that will be consumed immediately or used only once, for example, consumer buying behavior may only result in a quick decision on the spot. Most consumers don’t spend much time researching and planning a candy bar or paper plate purchase. Consumers who intend to purchase more expensive products that they will use for extended periods of time, such as cars and computers, tend to exhibit more complex consumer buying behaviors that involve a great deal of research and comparison.
Several different behaviors and activities are common elements of consumer buying behavior for complex and expensive purchases. The first part of this behavior is the recognition of a problem or need of some kind. A prospective consumer then determines what type of product is needed and looks into alternatives, such as different brands or different models. After conducting a research, the consumer decides which specific product to buy and how and where to make that purchase. After making a purchase, consumer buying behavior often includes evaluating the purchase in order to decide whether or not it is satisfactory.
Several factors can influence the buying behavior of consumers. Personal psychological preferences and motivations are extremely significant in driving a purchasing decision, but they are by no means the only relevant factors. Many purchases have distinct social implications and can alter how one is viewed from one’s social connections, such as by suggesting that one belongs to a certain culture or socioeconomic group, or that one advocates a certain brand over another. Intrinsic traits such as age, race, and gender also substantially influence consumer buying behavior. Young people spend money differently than older people, for example, and a man’s purchasing decisions might differ from a woman’s.
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