The paper "Buying Behavior Types" Is a wonderful example of a Marketing Research Paper. Consumers have four main types of buying behavior influenced by different factors relating to consumer needs. This behavior includes; complex behavior, dissonance tendencies, variety-seeking, and habitual purchasing traits behavior. This section explains each of these consumer buying behavior types in detail. Consumers with complex buying behavior are more aware of their needs in relation to products and brands (Ashraf, Rizwan & Khan, 2014). One main characteristic of this behavior type is less frequent purchases of particular products, which are relatively expensive.
In most cases, it focuses on individual purchases with the consumers strongly aware of existing brand differences. On the other hand, dissonance buying is common for infrequent purchases with the consumer having fewer regards for a brand or product type (Prasard & Jha, 2014). Sharma (2014) points out that it is mainly characterized by consumers paying more close attention to the price ranges as compared to the brand or product quality. Different brand features result in consumer’ s dissonance. As a result, consumers with this behavior may become more alert to brand information before decision-making (Njehia, Khamah & Njanja, 2015).
As a strategy, companies employ marketing strategies that portray their brand benefits with the aim of attracting consumer preferences. Recent consumer behavior studies reveal that slightly over 65% of consumers are variety-seeking (Ashraf, Rizwan & Khan, 2014). This implies that most consumers prefer regular experimentation with brands and products in order to experience various effects or finally establish the most appropriate brand. Organizations with superior marketing strategies that target the exploration of new products mostly benefit from these consumers. In cases where products are for daily use catering for such consumers, needs are virtually impossible (Njehia, Khamah & Njanja, 2015). Unlike the variety-seeking consumers, habitual buying behavior is characterized by daily or weekly purchasing of products (Sharma, 2014).
Consumers with this behavior tend to be brand-specific. However, their specificity is not to be confused with loyalty but rather simply a habit mostly as a result of low costs. To attract these consumers’ preferences, companies develop visual symbols attractive to the consumers’ eyes and reminding them of the brand. Furthermore, the marketing campaigns entail short messages repetitions and tendencies to pique interests by highlighting product differences in favor of their brand (Prasard & Jha, 2014).
Considering the different types of buying behavior, organizations strategize on techniques of attracting all consumer types for profitability. Consumer Purchasing Decisions. Consumers make various considerations before making decisions on products or brands to purchase (Ashraf, Rizwan & Khan, 2014). To understand these considerations identifying consumer buying behavior determinants is imperative. Adam & Ali (2014) explain five steps that characterize consumer decision-making processes. These include; need acknowledgment, information seeking, alternatives checking, buying decision and post-purchase considerations.
This section explains each of these steps with the aim of providing insights into making consumer decisions. Need acknowledgment is essential in determining consumer decisions (Solomon. , et al. , 2014). This is arguably the first step to influencing consumer decisions, since without need then purchasing will be unnecessary. However, not all needs are influencing consumer decisions due to the actual versus ideal situation existing lag (Prasard & Jha, 2014). The importance levels of the needs depending on the consumer’ s perception help identify the ideal situation, mostly influencing purchase decisions.
Additionally, various external and internal stimuli may be influencing consumer needs. External stimuli are more related to the social implications of purchases while the internal stimuli allude to more mental desires (Sharma, 2014).
Adam, M. A., & Ali, K. (2014). Impact of Visual Elements of Packaging of Packaged Milk on Consumer Buying Behaviour. Interdisciplinary Journal of Contemporary Research In Business, 5(11), 118.
Ashraf, M. G., Rizwan, M., & Khan, M. A. (2014). The promotional tools and situational factors’ impact on consumer buying behavior and sales promotion. Journal of Public Administration and Governance, 4(2), 179.
Brodie, R. J., Hollebeek, L. D., Juric, B., & Llic, A. (2011). Customer Engagement: Conceptual Domain, Fundamental Propositions and Implications for Research. Journal of Service Research, 252-271.
Elg, M., Engström, J., Witell, L., & Poksinska, ,. B. (2012). Co-creation and Learning in Healthcare Service Development. Journal of Service Management, 328-343.
Goldsmith, R. E. (2011). Brand Engagement and Brand Loyalty. In A. Kapoor, & C. Kulshrestha, Branding, and Sustainable Competitive Advantage: Building Virtual Presence (pp. 122-135). Hershey, PA: IGI Global.
Gupta, S. (2013). The psychological effects of perceived scarcity on consumer buying behavior:
Dissertations and these from the College of Business Administration
Helen Xu, Eric C. Lin, John W. Kensinger (2014), On the Estimation of Risk Premium in the
Gold Futures Market: Using the Goldman Sachs Commodity Index (GSCI) Approach, in John W. Kensinger (ed.) Research in Finance (Research in Finance). Emerald Group Publishing Limited, 29, 103 – 118
Jin, O., & Yazdanifard, R. (2015). The Review of Contemporary Branding Techniques that can Influence Current Consumer Buying Behavior.
Kotler, P. K. (2012). Marketing Management: A South Asian perspective 14th edition. New
Delhi: Pearson Prentice Hall.
Lovelock, C., & Wirtz, J. (2011). Services Marketing: People, Technology, Strategy. New Jersey: Prentice Hall.
Njehia, B. K., Khamah, A. H., & Njanja, L. W. (2015). Investigating the effect of corporate social responsibility on consumer buying behavior.
Prasad, R. K., & Jha, M. K. (2014). Consumer buying decisions models: A descriptive study. International Journal of Innovation and Applied Studies, 6(3), 335.
Sharma, M. K. (2014). The Impact on Consumer Buying Behaviour: Cognitive Dissonance. Global Journal of Finance and Management, 6(9), 833-840.
Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer behavior: buying, having, and being. Upper Saddle River, NJ: Prentice Hall.
Reith, F., Brugger, J. Zammit, C.M. Nies, D.H., Southam, G (2013). Geobiological Cycling of
Gold: From Fundamental Process Understanding to Exploration Solutions. Minerals , 3, 367-394.
Swati, S., & Kirti, A. (2014). Retail Investors and Gold Buying Behaviour – A
Perpetual Study of Indian Retail Investors. Accounting and Finance Research. Sciedu Press
Scacciavillani, f., & Saidi, N. (2010). The Case for Gold as a Reserve Asset in the GCC. Dubai: Dubai International Finance Center.
Schenk, C. R. (2013). The Global Gold Market and the Internationa Monetary System. In S. Bott, The Global Gold Market and the International Monetary System from the Late 19th Century to the Present (pp. 1-17). New York: Palgrave MacMillan.
Sharma, M. S. (2014). The Impact on Consumer Buying Behaviour: Cognitive Dissonance. Global Journal of Finance and Management, 833-840.
Tsiotsou, R. H., & Wirtz, J. (2014). The Three-Stage Model of Service Consumption. In J. P. Bryson, & P. W. Daniels, The Handbook of Service Business: Management, Marketing, Innovation, and Internationalisation, Cheltenham: Edward Elgar.
Van Doorn, J., Lemon, K., Mittal, V., Nass, S., Pick, D., Pimer, P., & Verhoef, P. C. (2010). Customer engagement behavior: theoretical foundations and research directions. Journal of Service Research, 253- 266.
Vel, P. & Rodrigues, J. (2013), 'Online purchase of luxury products in the UAE', World
Academy of Science, Engineering and Technology, (76), 1292-1298.