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Importance Of Consumer Buying Behaviour

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How many times throughout the day do consumers make product decisions? From high involvement purchase decisions (i.e. what brand of car or smartphone) to low involvement purchases (i.e. which brand of chewing gum or cheese). Why are these simple decisions so important? Why do marketers spend so much time and money researching and analysing the reasons behind consumers buying decisions and habits?
Understanding consumer behaviour is essential in a world of marketing. All marketing decisions are based on knowledge and assumptions of consumer behaviour. The study of consumer behaviour helps us improve marketing strategies and campaigns by understanding how consumers think, how they select between different alternatives (e.g. Brands, products, shops), how a consumer is influenced by their environment (e.g. Culture, peers, religion), how …show more content…

There are many things that influence our buying decisions. Ranging from personal influences like motivation which can be as basic as hunger to more complex influences like culture and what’s acceptable in their social class.
Firstly ‘the buying situation’ influences our buying behaviour. When buying products/services considered important (i.e. expensive clothes, cars, holiday) then we tend to closely examine many alternatives and spend time on information search before making an ultimate decision. This buying situation is known as ‘extended problem solving’ and has a high potential for cognitive dissonance. When buying something inexpensive that we haven’t bought before (i.e. chocolate) we choose quickly between alternatives and don’t give it much thought because if we make the wrong decision we only lose a small amount of money. This is known as limited problem solving. When buying a brand we are used to buying, normally an inexpensive product/service (i.e. shampoo, credit) we tend to repeat buy with little or no evaluation of alternatives. This is known as Habitual problem

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