Have you ever thought of the forces behind why we buy certain goods or those things that coax you to purchase an item? We buy commodities to satiate our cravings for either short- or long-term needs. Although wants tend to be are polarized, we purchase goods in line with our moods as we exhibit behaviors - sometimes unknowingly - that keeps us with the right commodity for maximum satisfaction. Some goods require little to no effort for their purchase, while some require heavy research.
To make good decisions, we have to understand the various types of consumer behavior in making apt decisions. we must also understand how important they are.
Consumer behavior is the level of effort put in by a consumer to obtain a commodity. This may include online or offline research to ascertain if a commodity is a good fit depending on the urgency. The behavior of consumers is influenced by psychological or psychosocial conditions that form the bulk of the cultural, social, and personal factors attached to a consumer. Moreover, it is important to understand that everyone is brought up with different perspectives that invariably affects the type of commodities they purchase.
Let’s have a look at these behaviors and how they affect transactions.
There are four types of behaviors affixed to a buyer. They inadvertently shape his life. These behaviors are often linked to making choices that appear impulsive, monotonous, or profoundly researched on. They are; routine response, limited decision making, extensive decision making, and impulsive buying.
• Routine Response Behavior
This falls under the usual items consumers are allied with. Possibly a brand he or she is attracted to or a commodity that suits their budget. Little effort is required to buying these goods because the habit of procuring them becomes habitual when the action is performed occasionally. However, it does not start as a routine. Time is the dominant factor in determining these sorts of goods. Examples of commodities in this category are; food items, drinks, snacks, detergent, etc.
• Limited Decision Making
Minimal research is needed to reach a constrained decision that requires a quick possession of a good. A person in need of clothes will examine the opportunity cost fixed to its attainment by filtering out what suits his needs. He will consider his budget, the brand, the size, and type of clothing.
In other unrelated scenarios, a consumer will most likely make limited decisions if his favorite brand of an item is not up for purchase. For example, as a consumer goes to a convenience store to get a pack of detergent, he will want to patronize the brand he is accustomed to. But when that brand is not available, chances are; he either goes to another store or looks for another brand with similar qualities. The latter is more liable to happen if he has limited time to make a selection.
• Extensive Decision Making
If a consumer desires to venture in any business that involves the procurement of a laptop - for example, graphics design - and has no forthwith knowledge on laptops, has never bought a laptop, or even considered getting one before, he will have to research on the model of laptop that will suit his purpose because making a pressured choice can be risky. While researching, he can discern the various types of laptops with a variety of specifications.
The same applies to goods that are often expensive. Getting these goods for long-term utilization requires lots of research. Hence, a consumer will examine his budget and needs over some time to get the best commodity.
• Impulsive Buying
Simply put as “no conscious buying”, impulsive buying implies that a consumer, without much thought purchased a commodity he didn’t think he would need. This is triggered by the mere sight of such item, or the impromptu demand that arises in the consumer's introspection. This behavior allows consumers to purchase goods that allows momentary needs at some point in time. Purchases of such goods are often low-cost and unplanned.
So, consumer behavior depends on what type of commodity you need to buy at a particular time. The commodity you secure might be the usual item affixed to your favorite brand, or maybe an impromptu substitute while you were fixed with limited time. How about if you bought a completely different item on impulse or a rather expensive item that required research? The fact is, no monopoly withholds a person to a particular behavior, it all comes naturally.
Carter, R., (2017). Understanding the three types of consumer buying decisions [online]. Zoovu. Retrieved from https://zoovu.com/blog/types-buying-behavior/.
Jones, S., (2014) Understanding the Types of Consumer Buying Behavior [online]. Business 2 Community. Retrieved from https://www.business2community.com/consumer-marketing/understanding-types-consumer-buying-behavior-0822037.
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