Week 6 of 17MGT-253Women University Multan

Week 6: Consumer Markets & Buying Behavior

Consumer buyer behavior is the buying behavior of final consumers — individuals and households who buy for personal consumption. Understanding why people buy is harder than counting what they buy.

Characteristics affecting consumer behavior

• Cultural — Culture, subculture, social class.
• Social — Groups, family, roles and status; opinion leaders and influencers.
• Personal — Age and life-cycle stage, occupation, economic situation, lifestyle, personality.
• Psychological — Motivation, perception, learning, beliefs and attitudes.

Types of buying decision behavior

1. Complex buying — High involvement, significant differences among brands (e.g., laptop for studies).
2. Dissonance-reducing — High involvement, few perceived differences.
3. Habitual — Low involvement, few differences (salt, basic soap).
4. Variety-seeking — Low involvement, significant differences (snacks, flavors).

Buyer decision process

Need recognition → Information search → Evaluation of alternatives → Purchase decision → Post-purchase behavior. For new products, the adoption process often follows: awareness → interest → evaluation → trial → adoption. Diffusion of innovations groups buyers as innovators, early adopters, early majority, late majority, and laggards.

Key terms

High-involvement purchase

A buying decision important enough to merit careful information processing.

Opinion leader

Person who influences others' attitudes or behaviors within a reference group.

Adoption process

Mental stages a consumer passes through from first hearing to regular use of a new product.

Cognitive dissonance

Buyer discomfort after purchase from post-purchase conflict.