Buyers Behavior

Topics: Risk, Maslow's hierarchy of needs, Abraham Maslow Pages: 8 (2521 words) Published: December 11, 2012
Buyer’s Behavior

The marketing concept emphasizes that profitable marketing begins with the discovery and understanding of consumers. And their needs and then develops a marketing mix to satisfy these needs. Consumers/ buyers considered to be as one of the important element in a company. These buyers/consumers are the one that generates the company’s income. In order to established loyalty among its customers a company should understand first the buyer’s/consumer’s behavior.

Consumer behavior is the mental and physical activities undertaken by household and business consumers that results in decisions and actions to pay for, purchase and use products. It includes a variety of activities and a number of roles that people hold as consumers.

Needs are unsatisfactory conditions of the consumer that lead him or her to actions that will make the conditions better.

Wants are desires to obtain more satisfaction than is absolutely necessary to improve unsatisfactory conditions.

Three Roles as consumer
* User role is the one who uses the product. The features of the products have to be the ones that the user is seeking and that will best meet the user’s need or want. * Payer role in this role it focus on the products price how it more likely to affect the consumer in buying the product. If the price or other financial considerations do not satisfy the payer, the user simply cannot buy the product. * Buyer role the buyer’s task is to find the merchandise and find a way to order or acquire it. If the buyer’s access to the products is constrained, the buyer will simply not buy the product, and thus, the user will not have the product available for use.

Consumer Decision Making- The process by which consumers recognize a need for a product search for information about alternatives to meet the need, evaluate the information, make purchases and evaluate the decision after the purchase.

3 types of decision making

1. Extensive decision making- requires the most time and effort since the purchase involves a highly complex or expensive product that is important to the consumer. It often involves considerable time and effort comparing alternatives and deciding on the right one. Ex. Car, house, computer, gadgets Marketers should provide consumer factual information that highlights competitive advantages. 2. Limited decision making- is more moderate but still involves some time and effort searching for and comparing alternatives. Ex. Buying shirts, make-ups. Marketers of products used eye-catching advertisement and in-store displays to make consumers aware of their products and encourage consumers to consider buying them. 3. Routine decision making- is the most common type and the way consumers purchased most packaged goods. Such products are simple, inexpensive, and familiar and consumers have developed favorite brands that they purchase without deliberation. Ex. Grocery items. Marketers of such products need to have them readily available for purchase in variety of outlets and price them competitively if price is an important criterion to consumers. Marketers of these low involvement products often use celebrity spokespeople and other non-product related cues to encourage purchases.

a. Need Recognition-Starting point in the buying process. It is the recognition of an unsatisfied need by the consumer. It is the consumer’s realization that he or she needs to buy something to get back to the normal state of comfort. * Internal stimuli are perceived states of discomfort – physical or psychological. Example: Feeling of being hungry and wanting some food, bored and looking for an entertainment place to go to. * External stimuli are informational cues from the market place that lead the consumer to realize the problem. Example: Seeing a food cart, chain and feels hungry, you suddenly saw a bag and feels like buying it. An advertisement of about multivitamins can serve as a purchase...
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