ITFT- Consumer behavior

Consumer Buying Behavior

Outline• Definition

• Need to analyze behavior

• Types

• Influencing factors

• Consumer buying process

Buying Behavior• Definition :

The decision process and acts of people involved in buying and using products.

• How does the buyer make purchasing decision?

• What factors influence consumer purchases?

Need To Analyze Buying Behavior

• What, Where, When & How – Marketing Mix.

• Helps predict how consumers will respond to

marketing strategies.

• Great impact on the success of firms marketing

strategy.

Types Of Consumer Buying Behavior• Routine Response/Programmed Behavior

• Limited Decision Making

• Extensive Decision Making

• Impulse Buying

Routine Response / Programmed Behavior• Frequently purchased low cost items.

• Low involvement required.

• Little search and decision effort

• Purchased almost automatically.

Examples- Routine Response

Limited Decision Making• Occasional buying.

• When information is needed for a unfamiliar brand in a familiar product category.

• Requires a moderate amount of time for information gathering.

• Loyalty to a brand

Examples- Limited Decision

Extensive Decision Making

• Complex process- requires high involvement

• unfamiliar, expensive, infrequently bought products.

• High degree of economic/performance/psychological risk.

• Lot of time spent seeking information and deciding.

Examples- Extensive Decision

Impulse Buying• Basis - purchase of the same product does not always elicit the

same Buying Behavior.

• Reason determines the extent of decision-making.

Examples- Impulse Buying

THIS or THIS ??

going for the dinner- reason can be an anniversary celebration, or a meal with a couple of friends.

Influencing Factors:

The marketer must be aware of these factors in order to develop a appropriate marketing mix for its target market.

Thank you