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Buyer’s Behavior
Two Categories Of Buyer’s:-
•Individual Consumers
•Business Buyers
INDIVIDUAL BUYERS :-
These buyers buys things
for his own personal and family
consumption.
BUSINESS BUYERS:-
These are the commercial
buyers they buys things for
manufacturing other products or for
reselling or use in the running of his
enterprises.
BUYER BEHAVIOUR MODELS
1) MASLOW’S HIERARCHY OF NEEDS :
Self-actualization
Needs
Esteem
Needs
Social
Needs
Safety Needs
Physiologic
al Needs
2) The Economic Models:
Buyer is a rational man and his
buying decisions are totally governed by the concept of
utility.
(ii)Cultural factors
(iii)Psychological factors
(I) Personal factors-(Age, Education,
Economic Position, Status, Self-concept)
An individual’s age, level of
education, his occupation, overall economic position and
lifestyle, all influences his role as a buyer. They decide what
products will buy and consume. A person’s self- concept and
his concern about status also influence his buying decisions.
(ii) Cultural factors: (Religion, language, etc…)
Within any religion, there may
be several sects and sub-sects; there may be orthodox groups
and cosmopolitan groups. In dress ,Food habits or marriage-in
almost all matters of individual life-religion and culture
exercise an great influence .
(iii)Psychological factors-
(beliefs,attitudes,motivation, and perception):-
Individuals coming under the same economic and
social groups can be vastly different when it comes to certain
personal believes, faith and attitudes. One may be traditional
in the overall view of life, while another may be modern. One
may be least innovative, while another may welcome anything
new.
2. Buyer’s Social Environment (Group
Influence)
The buyer, he is not an ascetic, he
is living in a society, is influenced by it. He is a member of
several organizations and groups, both formal and informal.
There is constant interaction between the individual and the
groups to which he belongs. Which influence him in his day-
to-day life and consequently, his buying behavior.
Since there are two broad groups of which an individual
is apart, we shall discuss group influence in two parts.
•Product motives
•Patronage motives