Is a market where the buyer purchases the goods and services for his own consumption?
 Show Buyer behaviour has been defined as “a process, which through inputs and their use though process and actions leads to satisfaction of needs and wants” (Enis, 1974, p.228). Consumer buying behaviour has numerous factors as a part of it which are believed to have some level of effect on the purchasing decisions of the customers. Alternatively, consumer buying behaviour “refers to the buying behaviour of final consumers, both individuals and households, who buy goods and services for personal consumption” (Kumar, 2010, p.218). From marketers’ point of view issues specific aspects of consumer behaviour that need to be studied include the reasons behind consumers making purchases, specific factors influencing the patterns of consumer purchases, analysis of changing factors within the society and others.
Example of previous research used to define consumer behaviour Moreover, the following popular definitions have been proposed for the term of consumer buyer behaviour:
Although the definitions given above are various, they all lead to common view that consumer buying behaviour is a process of selecting, purchasing and disposing of goods and services according to the needs and wants of the consumers. However, there is a general consensus among the researchers and academics that this process is subject to continual change over time as the purchase characteristics of the customers change due to their physical and psychological needs. In the mean time, Kotler and Keller (2011) highlight the importance of understanding consumer buying behaviour and the ways how the customers choose their products and services can be extremely important for manufacturers as well as service providers as this provides them with competitive advantage over its competitors in several aspects. For example, they may use the knowledge obtained through studying the consumer buying behaviour to set their strategies towards offering the right products and services to the right audience of customers reflecting their needs and wants effectively. Another valuable argument is provided by Egen (2007) on the importance of understanding the consumer behaviour. According to the author, better awareness of consumer buying behaviour is a positive contribution to the country’s economic state. The author further argues that the quality of goods and products are exceptionally good in countries where buying behaviour of consumers is well understood. This in turn increased the competitiveness of the products and services in international market increasing the export potential of the country. Meanwhile, high quality of domestic products and services lead to sophisticated domestic customers’ base (Blackwell et al, 2006). In addition to efforts of better understanding the consumers’ buying behaviour, companies also engage in advertising and promotion activities to influence the consumers’ purchasing decision. However, when they are engaging in such types of activities, they need to consider other external factors such as the overall economic conditions of the country, politics, technology and ethnic culture all of which are beyond the control of both the company and consumer Lancaster et al (2002). To sum up all the arguments stated above, it is clear that better understanding the consumer buying behaviour through studying and identifying their needs leads to huge long term benefits to the businesses. However, as stated by Kotler et al (2005) it is essential to mention that despite the great efforts to learn and understand the buying behaviour of consumers, it is very difficult to identify the exact reasons why a consumer purchases and prefers one product or service over another one. This is because consumers sometimes make purchasing decisions based on their emotional beliefs which they even themselves are not well aware of. References Blackwell, R., Miniard, P. and Engel, J. (2006) “Consumer behavior”, Mason: Thompson Egan, J. (2007) “Marketing Communications”, London: Cengage Learning Enis, B.M. (1974) “Marketing Principles: The Management Process” Gabbott, M. and Hogg, G. (1998). “Consumers and services”, Chichester: John Wiley & Sons. Kotler, P. and Keller, K. (2011) “Marketing Management”(14th edition), London: Pearson Education Kumar, P. (2010) “Marketing of Hospitality & Tourism Services” Tata McGraw-Hill Education Schiffman, L., Hansen H. and Kanuk L. (2007) “Consumer Behaviour: A European Outlook”, London: Pearson Education Solomon, M. (1995) “Consumer Behaviour” (3rd edition), New Jersey: Prentice Hall Stallworth, P. (2008) “Consumer behaviour and marketing strategic”, online, pp.9. What is purchasing for consumption?Consumer purchases refer to items used in daily living (e.g., clothing, food, electronics, appliances). They are the purchases that most intimately frame your life: you live with these items and use them every day. They are an expression and a reflection of you, your tastes, and your lifestyle choices.
What are the 4 types of consumers market?There are four primary types of consumer markets, including:. Food and beverage. The food and beverage segment of the consumer market is expansive and includes every vendor that sells food and beverages directly to consumers. ... . Retail. ... . Consumer goods. ... . Transportation.. What is the process of buying and using goods and services called?The process of buying and selling of goods and services is called trade. Trade is the transfer of goods and services from an individual or entity to another in exchange of money. This trade is happened in a market through a network.
Who buy in the consumer market?Anytime someone purchases a product for their own use, they become part of the consumer market. The market typically is divided into four different categories: food, beverages, transportation and retail.
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