Consumer buying behavior literature review. (PDF) Consumer Buying Behaviour 2022-10-27

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Consumer buying behavior refers to the actions and decisions made by individuals and households when purchasing goods and services. Understanding consumer buying behavior is important for businesses as it helps them to develop marketing strategies and create products that appeal to their target audience. In this essay, we will review the literature on consumer buying behavior and discuss some of the key theories and factors that influence the way consumers make purchases.

One of the most influential theories on consumer buying behavior is the consumer decision-making process, which consists of five steps: problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

During the problem recognition step, the consumer becomes aware of a need or want. This may be triggered by internal factors such as hunger or a desire for social status, or by external factors such as advertising or a sale.

The second step, information search, involves the consumer looking for information about potential products or brands that can meet their need or want. This can include conducting online research, asking for recommendations from friends and family, or seeking out expert opinions.

The third step, evaluation of alternatives, is when the consumer compares the options available to them and assesses the pros and cons of each. Factors that may influence the evaluation of alternatives include price, quality, convenience, and personal values.

The fourth step, purchase decision, is when the consumer decides which product or brand to purchase. This decision may be influenced by the consumer's budget, brand loyalty, and any promotional offers or discounts that are available.

Finally, the post-purchase behavior step involves the consumer evaluating the outcome of their purchase and determining whether they are satisfied or not. If the consumer is satisfied, they may become a repeat customer and may also recommend the product or brand to others. If the consumer is not satisfied, they may look for alternatives or seek a refund or exchange.

In addition to the consumer decision-making process, there are other factors that can influence consumer buying behavior. These include personal, psychological, and cultural factors.

Personal factors refer to the individual characteristics of the consumer, such as age, gender, income, occupation, education, and family structure. For example, younger consumers may be more influenced by trends and peer pressure, while older consumers may be more practical and value quality over price.

Psychological factors refer to the consumer's attitudes, beliefs, and motivations. These can include a desire for status, a need for security, or a preference for certain brands.

Cultural factors refer to the values, beliefs, and customs of the consumer's culture, which can shape their purchasing decisions. For example, consumers in collectivist cultures may place a greater emphasis on the needs of the group over the needs of the individual, while consumers in individualist cultures may prioritize self-fulfillment and personal achievement.

In conclusion, consumer buying behavior is a complex process that is influenced by a variety of factors, including the consumer decision-making process, personal factors, psychological factors, and cultural factors. Understanding these factors can help businesses to develop effective marketing strategies and create products that appeal to their target audience.

Luxury experience and consumer behavior: A Literature Review

consumer buying behavior literature review

For example, Lau et al. Attitudes depict the opinions, expectations and orientation towards products and services are difficult to change. Finally it can serve as integrative and generative function. There are further Alcohol Tax Impact and explains why the excise tax was implemented for all alcoholic beverages throughout the states. There are three research perspectives on consumer behaviour. Characteristics of an impulse purchase: Bayley and Nancarrow 1998 , based on Rook 1987 describes impulse buying exhibiting the following characteristics: The feeling of an overwhelming force from the product An intense feeling of having to buy the product immediately Ignoring the negative consequences from the purchase Feeling of excitement, even Euphoria The conflict between control and indulgence 3.

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Literature Reviews About Consumer Behavior

consumer buying behavior literature review

There are people from individualistic culture and collective culture. Sturken And Cartwright's Commodity Analysis 1237 Words 5 Pages Thus it will create a social value to the object. The consumer must overcome cumulative inertia as well as psychological and social attachment to the house and neighborhood to make a change McGinnis, 1968. Generation Z has an overall population of 82 million worldwide, with the oldest turning 23 and the youngest turning 6 Robinson, 2018. Microsoft advertising has premium content that attracts young adults and effective targeting to get the message across efficiently when they are online.

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Luxury experience and consumer behavior: A Literature Review

consumer buying behavior literature review

Demographics The external information search depends and is in relation to the demographic characteristics in specified by Beatty and Smith 1987. However, a closer look at studies investigating attitudes as consumers' responses to marketing efforts reveals a considerable diversity in perspectives about the concept of attitude and its formation. Most of these are personal factors and it varies from person to person, the shopping environment and situation. The Study of Consumer Behavior According to Engel, Blackwell and Miniard 1995 , consumer behavior is defined as the study if individuals or groups in obtaining, using and disposing of products and services, including the decision making process and the processes preceding the behaviors following it. The internet and social media are ways to keep us connected to one other.

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Literature Review: Factors Influencing Consumer Buying...

consumer buying behavior literature review

. There are certain consumers who like the shopping process rather than the external information search process is indicated by punj and Staelin, 1983; Beatty and Smith, 1987. The personality differs from person to person. This has been confirmed by Bellinger et al. This is due to the fact that marketing is a field that offers a combination of so many different disciplines such as art, psychology, and statistics. Moreover since the investment is high which leads to the same amount of financial risk involved, the consumers look out for extensive information in evaluating and selecting the right alternative. Considering this type of consumer decision making process, the objective of the research is threefold.

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Literature Review On Consumer Buying Behaviour

consumer buying behavior literature review

The Repeat-Passive type is a scenario where the consumers portray low level of engagement with the financial services being aware of the salient features of the services. For example, a homebuyer making the purchase decision alone may use a different set of criteria than a buyer who is making the decision as part of a family. We choose our profession and our partner by keeping in mind our personality type. They are as follows: 1. Research have define consumer Popular Culture Consumption 2717 Words 11 Pages Their consumption habits are being influence by media. The models attempt to identify the point at which the discrepancy between desired and actual states becomes great enough that the perceived benefits of moving exceed the perceived costs Brown and Moore, 1970; Speare, 1974; Huff and Clark, 1978; and Fokkema and Van Wissen, 1997. The quantity related is when consumers buy products from multibuys or extra fill packs.

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[PDF] Buying Behaviour Literature Review

consumer buying behavior literature review

While a homebuyer may dislike yard work, the social pressures to raise children in a house with a yard may interfere with the otherwise preferred purchase. Teenagers and adults use them for business, work, recreation, and simply to stay updated on friends, family, and the world in general. The intention of sales promotion is to attract new consumer, reward loyal customers and increase the repurchase rates of occasional users. Both personality and self-concept affects consumer buying behaviour, which is different for every person. Well, in the century we live in, technological devices are considered essential. The modern marketing concept makes customers the centre stage of organisation efforts.

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Critical Review: A Literature Review On Consumer Behavior

consumer buying behavior literature review

Overall Critique This was a very in-depth research project, particularly for a journal article. In other word, the goods consumers purchase can be used as necessities for survival for instance food items; or sometimes they can be bought for luxury or entertainment. It is due to this situation that the financial services industry has developed a Consumer Behavior Matrix. Evaluation of Alternatives The researches indicate that the information gathering process is a two stage sequence; first the consumer gathers information about the broad — based environment and the location variables. A customer makes an instant decision without thinking about the consequences of buying.

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A Brief Literature Review on Consumer Buying Behaviour

consumer buying behavior literature review

This research is based on the behavioural influence perspective. All of these models are analysed in great detail in Literature Review chapter of this work. However on the contrary the consumers who are satisfied with the amount of information obtained would probe into and collect information from the various external sources rather than visiting the real estate properties. For example considering a situation in which the consumer believes that all the schools in the particular city are good, then it may not be a deciding factor in purchasing the house even though the quality of the school plays an important role. De Montfort University Swot Analysis 934 Words 4 Pages They are the voice of an organisation.

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Literature Review Of Related Literature On Consumer Behavior

consumer buying behavior literature review

The researchers did a good job at explaining the project design. Moreover, consumer decision making process, in particular, five stages of consumer decision making process will be discussed in detail. Chris 1993 defines the sales promotion as the practice of offering temporary addition value to a brand in order to reach specific market objectives. These features enable new kinds of mobile services that in turn shape the usage of smartphone users. Consumer purchase reinforcement can stimulate subsequent category demand included by the promotion of one brand. The consumers go through in deciding phase to search for information, gathering information phase and finally processing of the gathered information. One of them is discount orientation.

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Literature Review On Consumer Behavior

consumer buying behavior literature review

Internal information search In general, initially the customers check and obtain information by means of internal information search i. Sales promotions might or might not turn them to loyal users. Besides that, situational factors impacting consumer behaviour may include location, environment, timing and even weather conditions Hoyer et al. The purchase of any product is the only visible evidence of a more intricate procedure that a consumer goes through for every decision he or she makes. The influence of family on consumer buying decision was also examined on the context of the two different cultures. Engel, Blackwell and Miniard 1995 in their research indicated that the evoked set which the reduced set of alternatives from which the consumer makes a decision regarding the purchasing of the property is of major consideration in assessing the behavior of the consumer in the house buyer market. Social Factors: The main social factors that influence consumer buying are groups, family, roles and status.

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