Consumer Buying Behavior

Topics: Marketing, Business, Consumer Pages: 1 (324 words) Published: July 23, 2013
Marketing
Buying behaviour
The consumer market is all about selling products and getting the best revenue from that. So therefore, offers will be placed on products to make them more attractive for people to buy so that company gets the sales.  The consumer market is also very competitive and this means that if you wish to be successful within it, you need to keep tabs on what the competition is doing and better them. The consumer market is all about making cheap produce and selling it on at a higher price to the general public to make a profit.  The business market, however, is more difficult to define. The differences between it and the consumer market are mainly that the business market is less directly competitive, but at the same time you need to make sure your product, or shares, are attractive to the buyer. So it is more about promoting what you have to make buyers aware of it and why it is so good.  The factors that influence consumer buying behaviour will be things such as the price of the product, and whether it is actually worth the price that it is being marketed at, the place at which it is being sold, because consumers often have favourite stores, and will look for a reputable name to buy from, and necessity. If the product is something that is needed rather than a one off or a novelty then you are more likely to sell it.  The factors that influence business buying are more about the professionalism of the companies selling and their potential to keep providing good share prices are key factors. In the business market it is all about getting your name seen as reputable and knowing what is good to invest in at the time. In business you are more likely to need to impress a company than in consumer buying because the only judge is the consumer themselves.
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