Types of Consumer Buying Behavior
Regardless of the size of your business, or industry, understanding consumer buying behavior can help you make important decisions about your business. Decisions such as pricing, promotion, distribution and create your product or which services to offer are greatly impacted by how and why your customers purchase products or services from your company. There are several types of buyer behavior.
Routine Response
Consumers purchase commonly used products like juice, milk, toothpaste, socks, eggs and bread with little decision involved in making their purchases. It's often as simple as running out of a product and needing to replenish it with their preferred brand. These are usually small purchases, on the lower end of the pricing spectrum.
Impulse Buying
Trips to the supermarket, discount stores and even the drugstore can often result in consumers purchasing items they didn't originally intend on buying. Impulse buying is a type of consumer buying behavior that results in an unplanned purchase. A consumer may purchase an items while at the checkout from a point-of-purchase display. The decision to buy is instant, and usually not based on need.
Limited Decision Making
Limited decision making is a mixture of an extensive purchase decision and a routine one. Consumers who participate in this type of buyer behavior typically know what kind of product they want, but they are trying to decide which brand they want. Making a jeans purchase is a good example of how limited decision making works. A customer who needs a new pair of jeans goes into a store looking for jeans, but investigates various brands to determine which is the best fit. The consumer may consult with friends or family, but he won't ask as many questions about the product or service, or take as long to decide as he would with an extensive, high-priced item.
Extensive Decision Making
When consumers purchase a high-ticket item, such as a vacation package or time share, electronics, a car or a home, they spend time researching their options. They may use the Internet to find information, speak with credible family, friends or colleagues, or even consult with trusted sales professionals to get the features and benefits of the product or service they're considering purchasing. Consumers participating in the extensive decision-making process, typically take longer to make a final decision to buy and spend more time researching their options.
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