Posted in Marketing and Strategy Terms, Total Reads: 6958
Definition: Complex Buying
A highly involved purchase, for a product in which there is significant differences between the brands, requires the customer to exhibit complex buying behaviour. This is complex because it involves huge risk. Also, the significant differences between brands call for very high involvement from the customer’s side. Providing information is the key to help the customers in this kind of buying.
Buying a new home requires complex buying. It has high risk as huge financial investment is needed. Also, the customer has to take informed decisions about various factors like locality and future value before making the purchase. Whereas buying a packet of chips would not be a complex buying as the purchase decision would be based on impulse and not information. Also, Buying a diamond would also not qualify for complex buying as even though the risk is high in terms of the financial investment needed. This is because, as consumers we cannot differentiate between the different qualities of diamond and hence, for us, there is no significant difference between the different brands.