Buying Decision differs from person to person. Deepening upon the need of the person, the decision gets change; Even if the product is small. There are different factors which influences the nature of buying. Hence buying decision has been classified into four different categories such as Complex buying behavior, Dissonance Reducing buying behavior, Habitual buying behavior and Variety seeking buying behavior. These are classified depending upon the degree of involvement and degree of difference among brands.
1. Complex Buying behavior: This situation involves the high level of involvement from consumers and the same with the difference among brands. These cases arise when the product is of high price, risky, high for servicing, and so on. For Ex: Buying a laptop/Car. Here the product is expensive and there is a significant difference among the brands.
2. Dissonance reducing behavior: This involves high involvement of the buyer but a less significance difference among the brands. For ex: Buying an Air Conditioner. Here the product is highly priced but almost all every brand gives the same features. Sometimes this may involve the post purchase dissonance behavior. Here the consumer looks at the disadvantages of the product after purchase.
3. Habitual Buying Behavior: Here there will not be any kind of involvement from the consumer. Here the purchase happens depending upon the Brand familiarity. Here the consumer involvement is low and less differences among brands. This happens based on the habits of buying. For Ex: Buying of a liquid soap . Most of the people prefer Dettol because of the brand. But there are other products like Lifebuoy with less significant difference.
4. Variety Seeking Buying Behavior: Here the consumer involvement is low but there will be significant difference among brands. For Ex: Biscuits, when we buy a biscuit we do not know the taste hence after consumption only we can tell that whether...