Consumer Buying Behavior

Consumers are the decision makers regrading the purchase of goods and services that can provide current and future satisfaction. Consumers require purchasing several products in different situations to meet their needs and wants. Some products are frequently purchased to meet daily needs, such as foods, cloths, shelter, medicine, transportation, education, etc. which are the low cost. Some products are occasionally purchased, such as unfamiliar brand, for which consumers need to collect information before the products are purchased, while some products are infrequently purchased because such products may involve high investment. To purchase such products, consumers need to think more hence spend more time.

Type of consumer buying behavior

The consumer buying behavior can be classified into three categories.

1. Routine purchase decision
2. Limited purchase decision
3. Extensive purchase decision

Routine purchase decision

Routine purchase decision is related to low-cost essential items, which require very little search and decision efforts because consumers are familiar with brand and are frequently purchased without any efforts. This type of purchasing decision is known as “low-involvement decision” and the products falling under this decision category are called low-investment products. For example, food, milk, vegetables.

Limited purchase decision

Limited purchase decision is related those products that are purchased occasionally. For the purchase of those products, a little bit more money is required along with the moderate amount od time for information gathering and deliberation. Therefore, this type of purchase decision is also called “limited-involvement decision”. For example, cloths.

Extensive purchase decision

Extensive purchase decision is related those products that are expensive, unfamiliar to the consumers and purchased infrequently. This is the most complex type of consumer buying decision. It requires adequate search and decision efforts. This type of purchasing decision is called as “high-involvement decision”. For example, car, homes.