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Consumer Purchasing Behavior Approaches

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Added on  2023-04-20

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The report explores the various concepts, models, and approaches of consumer decision making and how they make the final choice on which brand is suitable. It discusses the impact of psychological and social-cultural factors on consumer behavior and analyzes the three events of online shopping, e-banking services, and purchasing goods from a physical shop. The future consumption pattern is also examined in relation to technology, urbanization, culture, and globalization.

Consumer Purchasing Behavior Approaches

   Added on 2023-04-20

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Decision making refers to a cognitive process of choosing a particular course of
action from a variety of alternatives offered by different sellers. The report will explore the
various concepts, models, and approaches of consumer decision making and how they make
the final choice on which brand is suitable. In most cases, consumption decision is as a result
of influence from brand owners or fellow consumers. The analysis of consumer before is
crucial for an enterprise in regards to choices of the market, segmentation, position of their
product, implementation of advertising strategies and development of new product.
Consumer decision making begins when a buyer recognizes a need, want or a
problem. Once the need is identified, researches the brand using various sources such as
information from friends, advertisements, recommendations from family and online sources.
This helps in the allocation of information about the product and the different brands.
Consumer Purchasing Behavior Approaches_2
Depending on the news the consumer will be aware of durability, effects, benefits, and
disadvantages of the product. Subsequently, the evaluation process will be done from the
information gathered before deciding to purchase a product.
Consumer behavior is the study of customers purchase, use of product and services
and experience through evaluation of the level of satisfaction. When purchasing
commodities, two significant factors affect the decision-making process. Social-cultural and
psychological factors have a high impact on a consumers decision and overall satisfaction.
However, the approaches used in measurement and determination consumer decisions are the
behavior theory, cognitive approach, and social cognitive approach. Successful enterprises
understand that needs are an active target. Organizations need to keep innovating to keep up
with the change of customer needs and the market.
Explanation of Three Events
Consumer refers to any legal individual that can purchase the commodity from a
seller (Durden, 2018). Psychological factors such as person perception, attitude, motivation,
and beliefs play a significant role in influencing purchasing behavior (Durmaz, 2014). Social,
cultural factors include the influence of other people words, perception and attitudes towards
a product that will impact personal decision making. A society’s cultural beliefs, norms, and
traditions can change how consumer purchases good. Besides, individual elements such as;
education and lifestyle may affect. Educated people tend to be influenced by current trends. A
good example is a college student; they tend to buy clothes and goods that are in fashion.
This is due to impact from friends or family member that purchase concerning trend.
Online shopping- is the act of purchasers being able to buy goods or services by the
use of the internet (Kochar & Kaur, 2018).In the business world, emarketing has emerged as
the most efficient and cost-effective way of purchasing goods. The consumer is known to rely
Consumer Purchasing Behavior Approaches_3

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