The consumer buying behavior is defined as a process in which the individuals search, purchase, use and finally dispose of the goods and services in accordance to their needs, wants and satisfaction. In other words, the consumer buying behavior studies the actions and decisions of the people that motivate them to involve in buying and using the products, services that a company offers. The things need to understand under this topic are;
• What is the reason behind ever purchase that a consumer makes?
• What are the factors that influence the consumer purchases?
• The variation of social factors.
As aforementioned, the consumer behavior is the buying behavior of the ultimate customer. However the firms need to study the consumer behavior for the following reasons;
• The reactions of the buyers to firms is an active ingredient of planning a marketing strategy and so this has an impact on the firm’s success
• It is an essential component of creating a marketing mix, to understand the psychology of the consumer that what satisfies his needs, what he wants, how, and where, respectively.
• The marketers can adeptly predict in designing the consumer response model to their marketing strategies.
The consumer’s degree of complexity in making decisions is discussed as follows. That normally comprises of 6 different stages.
1.The needs awareness – Here the focus is on what actually is desired, and what is the real state? The classification of such needs is like hunger to food, thirst to water etc.
2.The search based on the information – for example memory, friends, relatives etc
3.Evaluating alternatives – it involves establishing the criterion for the evaluation process or in other words, what the buyer is seeking and what the buyer does not wants.
4.Decision of purchasing – includes all the buying alternatives ranging from package, the product, the store and the methods of purchasing.
5.The purchase; is basically the lapsed time between 4 and 5, and is differ from the decision.
6.Satisfaction or dissatisfaction: Post purchase evaluation – whether what you have decided is right or not, and this is mitigated through the after sales communications, and different warranties etc.
The sundry types of the consumer behavior are determined by the following;
a.What was the level of involvement in making a purchase decision? The level of interest, the importance, the intensity in that particular situation is studied.
b.The level of involvement of buyers is necessary to study as to determine the motivation to seek information about any particular product or a service.
Pertinent to this, there are 3 categories that affect the consumer buying decision process respectively; (1) Personal (2) Psychological and (3) Social. The main reason why a business propels or shuts down is just this that they do/don’t understand the customer psychology and what actually they are looking for.