The buying behavior of the final customer –individuals and households that buy goods and services for a personal purpose.All these individual combine together to make a final consumer market.Consumers and their consumption vary according to age, income, education level, and tastes.
Consumers are mainly affected by several factors like cultural, social, personal and psychological characteristics.
Cultural factors play vital role in the consumer market and behavior. The marketer must need to understand the buyer's culture, subculture, and social class.
A consumer behavior is also influenced by social factors such as the consumer small groups, family and social roles and status.
A buyers decision also are influenced by personal characteristics such as buyers age and life cycle stage, occupation, economic situation, lifestyle, and personality and self-concept.
The four major psychological factors such as motivation, perception, learning and beliefs and attitudes play significant roles in consumer buying and they are described below.
There are four types of buying behavior that consumers show which is described below:
Complex Buying Behaviour
The buying behavior in which there is high involvement in a purchase and perceived significant differences according to brands is complex buying behavior.Consumers will be highly involved if the product is expensive, risky, purchased infrequently and highly self –expressive. For example, the consumer may not know the attributes that need to be considered like “4GB dual channel”, “DDR2 DRAM memory”.
Dissonance – Reducing Buying Behaviour
Consumer Dissonance – Reducing Buying Behaviour is buying behavior situations characterized by high involvement but less perceived differences among the brands. It occurs when consumers involve with an expensive, infrequent, or risky purchase but see little differences among the brands. For example, consumers, buying furniture may face a high involvement as they are expensive but they buy it very quickly without looking any brand names.
Habitual Buying Behaviour
It is a consumer buying behavior in situations characterized by low consumer involvement and few significantly perceived brand differences. For example, behavioursalt. The consumer has little involvement in this product category – they simply go to the store and buy any off brand.
Variety –Seeking Buying Behaviour
It is a consumer behavior in situations characterised by low consumer involvement but significant brand differences. In such cases consumers do a lot of brand switching . For example, when buying biscuits , a consumer hold some beliefs and choose any biscuits and evaluate it during the consumption.
Now we have to know the buyer decision process and how the consumer makes buying decision. There are five stages of Buyer decision process.
The buying process starts with need recognition in which the buyer recognises a problem or need. For example a discussion with your friend to think about the purity of water that you drink. At this stage, marketers know the need of the consumer for the particular product.
The stage of buyer decision process in which the consumer search the related information about the product. A consumer may or may not search the information as- if they get the satisfying product then they will be ready to pay.
Evaluation of Alternatives
The stage in which the consumer evaluate brands in the choice set by using the information. Consumers also use calculation and logical thinking while evaluating the alternatives. In other times, the customer does less evaluation or no evaluation.
It is the decision of the buyer to purchase the product of specific brand. Sometimes purchased decision can be influenced by two factors i.e attitudes of others and unexpected situational factors. If someone important to you think you have to buy the low priced product then you buy low priced products is an example of attitudes of others. If the economy turned worse than you will be disappointed to buy a car even its price is dropped is an example of unexpected situational factors.
The stage of the buyer decision process in which the consumers take further action after the purchase of a product on the basis of their satisfaction and dissatisfaction. If the expected and performance gap is high then the consumers may be dissatisfied and vice versa.
Kotler, P., & Armstrong, G. (2013). Principles of Marketing. Chennai: Pearson India Education Services Pvt Ltd.