Understanding The Consumers ' Buying Behavior

1403 Words Feb 25th, 2016 6 Pages
Understanding the consumers’ buying behaviour is a complicated but essential task for all marketing managements. It is vital to understand how people make purchase decisions and what drives them to buy one specific product and no other. According to Kotler et al. (2013) “consumer buyer behaviour refers to the buying behaviour of final consumers – individuals and households that buy goods and services for personal consumption.” It may be a costly and time-consuming task to find out what, when, where and how customers buy but in the end it is just a question of effort to be able to study these issues. But finding out about the actual reasons, why consumers make specific purchases, is far more difficult because the answers to this question are locked within the consumer’s mind or as Kotler describes it in the “Stimulus-Response Model of Buyer Behaviour” (Appendix, Figure 1): in the “buyer’s black box”. It is hard to see what is going on in a consumer’s mind.
For marketers it is vital to understand the buyer’s characteristics and the buyer’s decision process to be able to create marketing stimuli which have the highest possible influence on the consumer and to convince them of your product. The marketing stimuli consist of the 4P’s: product, price, place and promotion. Further external stimuli also have an impact on the buyer’s behaviour. These forces in the buyer’s environment range from economic, technologic, political to cultural forces. All of the abovementioned factors…

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