Consumer Buying

Published by MBA Skool Team, Last Updated: July 28, 2018

What is Consumer Buying?

The Consumer buying behaviour is very important for any marketer. The marketer needs to understand the buying behaviour of the consumers before attempting to influence it. It can be defined as the decision processes and acts of final household consumers associated with evaluating, buying, consuming, and discarding products for personal consumption.

Various factors influence the consumer’s buying behaviour. They can be broadly categorised as below:

1. External factors

    • Influence of a group
      This includes the influence of culture, family and  reference groups on the buying behaviour of the consumer
    • Environmental/situational
      Factors like season, time of day, temperature and humidity etc. also affect the decision making process.
    • Economic conditions

2. Internal factors

    • Lifestyle, Personality, Motivation etc.

These factors hold different level of importance for different kinds of products. For example, consider a cold drink brand, Pepsi. The sales of Pepsi will be majorly influenced by the environmental factors like season and temperature. The influence of group is minimal in this case. On the other hand, while purchasing a car, the consumer’s decision majorly rests on group influence and his internal factors. The environmental factors have almost no role in this purchase.

The following are the major steps in the consumer purchase, that generate the action or the purchase.

AIDA


This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse the definition and meaning of more similar terms. The Management Dictionary covers over 2000 business concepts from 6 categories.

Search & Explore : Business Concepts



Share this Page on:
Facebook ShareTweetShare on Linkedin