KNOWING BUYERS

REASONS FOR PEOPLE BUYING

Trying to understand why people buy products and services makes marketers invest
millions of money. Often it appears that there is no basis for buying. However, in reality, there
is always a reason. There are many factors involved in a customers’ buying decision. Any of the
following could be a reason for purchasing, namely:

 NEED – The reason to buy is to satisfy one’s deprivation such as mineral water for
thirst, hamburger for hunger and so on.
 WANT – The reason to buy is to satisfy one’s desire.
 CONSPICOUS CONSUMPTION – The reason for buying is to display one’s wealth or
social status such as acquiring high-end cars.
 SNOB EFFECT – The reason for buying is acquiring something nobody else has such as
limited edition of gadgets, bags, watches and even laptops.
 BANDWAGON EFFECT – The desire to buy is to obtain something everybody else is
buying such as the phone with camera for selfie.
 ECONOMIC –The reason for buying is to enhance their lifestyle or to fulfill two of
Maslow’s needs which are physiological (food, shelter) and safety and security.
 PSYCHOLOGICAL – The reason for buying products is to enhance one’s well-being, for
example, air fresheners, furniture, and convection ovens.
 SOCIOLOGICAL – The reasons for buying are the need to consume products that will
appeal to their chosen groups. For instance, a consumer wants to join a basketball team
would have to purchase the proper clothing and accessories.
 PRACTICAL – Consumers purchase products because they need them to survive.
 IMPRACTICAL – The reason to buy is the opposite of practical which is purchasing
products that are not essential
 RATIONAL –Purchases are made with logical, thought-out reasoning
 IRRATIONAL – Products are made for foolish or absurd reasons.
 FACTUAL – Purchasing products based on researched reports.
 EMOTIONAL – Purchasing products based on feelings.

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Factors influencing consumer buying behavior