What is buying behavior?The decision making process which involves the period before, during and after buying or purchasing a product is referred to as the buying behavior of a customer. The buying behavior of the targeted customer has to be analyzed before the formation of any marketing strategy aimed to achieve the targeted sells in the market. Since each targeted segment or market might have a different kind of a buying behavior hence a different kind of approach is needed to reach them.
What are the various buying behaviors exhibited by the customers?Routine Response - There are some products in the market which are purchased by the customer almost without much thought such as bread, butter, milk etc. There is a very low amount of involvement by the customer while purchasing these products. The human mind gets programmed in a certain manner when it comes to purchase of such products hence it is done without any prior thought or evaluation.
Limited Decision Making - There are certain products which are brought occasionally hence we require some time to gather the information to make a decision. Due to the lack of knowledge of the product segment in advance it requires limited decision making on the part of the customer.
Extensive Decision Making/Complex high involvement, unfamiliar, expensive and/or infrequently bought products.
Impulsive buying - At certain times we just come across a product and buy it impulsively without any kind of prior planning, evaluation or thought.