Assignment – Consumer Behaviour|
ARUNPRASAD ANNAMALAI EPGP-04A-011
Question: - Retail stores put a number of items on the aisles leading to the checkout station. These are placed there to remind customers of things they may have overlooked, or to show products that customers may not have thought of buying until they are seen. Retailers know that some items are purchased on impulse. In other words, the customer simply sees a product and purchases it. Using suitable arguments and examples, explain why consumers buy impulsively. Impulse buying behavior
Impulse buying is a buying behaviour characterized as unplanned, spontaneous, immediate, unconscious and emotionally driven. Unplanned purchase that is characterized by i) relatively rapid decision-making, and
ii) A subjective bias in favor of immediate possession (Rook and Gardner, 1993).
It is described as more arousing, less deliberate and more irresistible buying behavior compared to planned purchasing behavior (Kacen and Lee, 2002).
Impulse buying is big business, It is estimated that 40 percent of all money spent is through impulse buying. That includes all money spent on Internet e-commerce sites as well according to User Interface Engineering (Uie.com). A recent survey tells 9 out of 10 shoppers make impulse purchases at Grocery Stores. The same survey reveals that an average American woman eats 14000 calories a year over impulse purchase.
The impulse to buy is hedonically complex one and may stimulate emotional conflict.
Types of Impulse Buying.
1. Planned Impulse Buying.
2. Reminded Impulse Buying.
3. Fashion Oriented Impulse Buying.
4. Pure Impulse Buying.
Triggers of Impulse Buying
The causes of Impulse Buying can be classified into two areas. i) External Environmental Influences.
ii) Internal Environment Influences.
External factors are referenced as marketing cues or stimuli that are placed and controlled by the...