CONSUMERS BUYING BEHAVIOR

Grade 9 – Entrepreneurship

A consumer is a person, organization, or economic entity that buys a good or

service and does not sell it on. I other words, they ‘consume’ it.

What is consumer buying behavior?

Consumer behavior or consumer buying behavior are all the aspects that affect consumers’
search, selection, and purchase of products. We can use the term for the purchases of services
too. Consumer behavior also includes the post-purchase stage. Consumer behavior is an area of
research within the business field of ‘marketing.’

Understanding your customers' behaviors helps you better target your marketing toward their
specific spending needs.

By closely studying customers' buying behaviors, you can learn why and how they make certain
purchasing decisions or choose one brand over another. 
What are the major factors that influence consumer buyer behavior?
A variety of factors go into the consumer buyer behavior process, including cultural, social,
personal, and psychological factors. Taken separately, they may not result in a purchase. When
put together in any number of combinations, the likelihood increases that someone will connect
with a brand and make a purchase. Let’s take a closer look at each of these factors.
Cultural Factors - We are associated with a set of values and ideologies that belong to a
particular community. Whenever a person comes from a particular community, his/her behavior
is highly influenced by the culture relating to that particular community hence influencing the
buying behavior. Some factors that influence buying behavior culturally are Culture, subcultures,
castes, religion, etc.

Social Factors We are social beings and we live around many people and influence each other’s
buying behavior. We try to imitate other people and also wish to be socially accepted in society.
Hence the buying behavior gets influenced by other people around them. Some factors that
influence the buying behavior socially are Family, Reference Groups, Roles and status, etc.
Personal Factors - Factors that are personal to the buyers influence their buying behavior. These
personal factors always differ from person to person, thereby producing different perceptions and
consumer behavior. Some factors that influence buying behavior personally are Age, Income,
Lifestyle, etc
Psychological Factors - This is one of the major influences on buying behavior. These factors
are powerful enough to influence a buying decision for a buyer but are very difficult to measure.

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Factors like Motivation to buy a product, Perception of other people towards the product,
Learning about the product (Pros and Cons), Attitudes and Beliefs of previous consumers and
other people also have an impact on influencing a buying decision

Different Types of Consumers Buying Behavior

1. Habitual
Habitual buying is the buying behavior of buyers/consumers where they make repeat purchases
several times of an already known brand without the process of high involvement and decision.
This type of consumer buying behavior is characterized by low involvement in a purchase
decision. A client sees no significant difference among brands and buys habitual goods over a
long period
Example:  Habitual buying behavior is purchasing everyday products like bottled water; paper
towels; fruit; bread; milk; toilet paper; chips; meat; lettuce; dog food; soft drinks; baby food;
frozen vegetables; eggs; yogurt.
2. Complex
Complex buying behavior typically occurs when a customer is purchasing an expensive product
or service. Because it's costly, the consumer may take time to research it and its features before
committing to a large purchase. They may spend time online reading reviews about the product
and the benefits of using it. Customers may also consult friends, family or colleagues to gain
additional opinions on this important buying decision.
Example: Complex buying behavior often occurs with high-stakes purchases like a new home,
car, or computer. If the buyer is going to spend a significant amount of money and is choosing
between brands with notable differences—Ford or Tesla, Apple or Android—they will likely feel
the need to conduct in-depth research and, therefore, will be highly involved in the process.
3. Variety seeking
Variety-seeking buying behavior is when a buyer desires to search for an alternative product even
if the buyer is satisfied with a current product. In this case, mostly the cost of switching products
is low, and so the consumer may perhaps simply move from one brand to another brand.
In this case, a customer switches among brands for the sake of variety or curiosity, not
dissatisfaction, demonstrating a low level of involvement.
Example, they may buy soap without putting much thought into it. Next time, they will choose
another brand to change the scent. 
4. Limited decision-making
Limited decision making is a buyer decision making that is used when purchasing products that
require a moderate amount of time and effort to where the buyer compares models and brands
before making a final choice for the purchase decision.

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Example: Sometimes, customers will purchase a product due to a lack of options. For example,
someone who wears extended sizes may find limited clothing options in-store, forcing them to
buy something in a style or color they don’t particularly like.

 5. Impulsive
A consumer that makes an unplanned purchase. It is based on irrational thinking. Impulsive
buying is a consumer buying behavior where you buy something without thoughtful
consideration or planning. It's characterized by a sudden strong urge to make a purchase, usually
in response to a positive emotional state such as excitement or happiness.

Example: Say you're at the grocery store. The gallon of milk, which is on your list, isn't an
impulse buy. The candy bar that you throw in your cart on a whim, after spotting it on the
shelves in the checkout line, is an impulse buy

6. Spendthrift
Spendthrifts are a group of consumers who spend without hesitation. The spendthrifts feel little
or no pain in making a purchase. They love purchasing what catches their eye immediately.
Spendthrifts are more likely to resort to impulse buying.

Example: Spendthrifts are why credit card companies make money. These people will spend
until they max out that credit card, then reach for the next credit card and keep going. This is the
proverbial “impulse buyer”. They need little convincing to make a purchase – just a "for sale"
sign.

7. Average spending
Average spenders typically care about the money they save while still placing importance on the
quality of the product. Many of them set a budget for their purchase but may allow themselves to
spend outside their limit if they feel the features are worthwhile and beneficial.
Average spenders generally want to save money, but they still value high-quality products. Most
will have a monthly budget or at least a price in mind for any big-ticket item they’re planning to
buy.
Example:  Average spenders typically care about the money they save while still placing
importance on the quality of the product.

8. Frugal spending
This type of buyer focuses closely on saving money and purchasing products within their
budgets and spending limits. They may care more about the price of the product than factors like
brand image, product features, or consumer benefits.
Example: For example, a frugal person might buy a $99 coffee maker that will last a decade
instead of a cheap $15 coffee maker that may not even make it a year. They may spend more
upfront, but the goal is buying items that last and consuming less overall.

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9. Analytical
These buyers are motivated by logic and information. They are best identified by their tendencies
towards perfectionism and attention to detail. They can seem indecisive, introspective, or even
withdrawn, but this shouldn't fool you.
They are into the detail and aren't really interested in developing personal relationship with the
seller. They ask technical questions and tend to buy slowly. They are poor decision-makers
unless there is a clear and logical reason for choosing your solution.

Example: A person buying an  iPhone 14 Pro Max

10. Expressive
Most expressive buyers typically care about the type of ongoing relationship and experience they
receive when purchasing your product or service. They often value a positive customer service
experience, as they may regularly expect to interact with your brand and receive the necessary
help, guidance or support as soon as they need it.
To effectively sell to these buyers you need to establish a positive relationship with them to
demonstrate the courteous and professional ongoing relationship you may have with them when
they become your long-term customer. Relationships are key to the Expressive Buyer. They
cannot stand feeling isolated or ignored during a transaction.

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