Buying behavior refers to the decision-making process and actions of consumers or businesses when selecting and purchasing of products or services.
Thank you for reading this post, don't forget to subscribe!- It is influenced by various internal and external factors such as personal preferences, cultural influences, economic conditions, and marketing strategies.
- It focuses on understanding how individuals and organizations make purchasing decisions.
Types of Buying Behavior:
- Consumer Buying Behavior: The behavior of individuals who buy goods and services for personal or household use.
- Business Buying Behavior: The behavior of organizations that buy products or services for use in production, operations, or resale.
The Nature and Scope of Buyer Behavior:
The study of buyer behavior encompasses a wide range concern. It nature and and scope can be categorized as follows:
- Buyer behavior deals primarily with the behavior of individuals in the marketplace- the manner in which they purchase and and use products and services.
- Buyer behavior is multi- disciplinary. Its understanding enhanced by contributions from areas such as psychology, sociology, culture, anthropology, economics etc.
- Buyer behavior is concerned with the factors that influence product purchase decisions and products usage.
- Buyer behavior is concerned with the process by which buyers arrive at buying decisions and how that process differs across the individuals and products.