What Is Consumer Buying Behavior?
by Jordan Ehrlich, on January 24, 2020
Definition of Consumer Buying Behavior:
Consumer Buying Behavior refers to the actions taken (both on and offline) by consumers before buying a product or service. This process may include consulting search engines, engaging with social media posts, or a variety of other actions. It is valuable for businesses to understand this process because it helps businesses better tailor their marketing initiatives to the marketing efforts that have successfully influenced consumers to buy in the past.
We have all experienced the moment when we walk into a store and see something that we just have to have. Retailers spend billions of dollars every year trying to generate that feeling in their customers. Web campaigns, video and print ads, social media campaigns, and branding seem to converge as the consumer finally feels a connection to a product and makes a purchase. So what drives that behavior? And how do you capture and then replicate that lightning-in-a-bottle moment when a potential customer turns into a buyer?
What are the major factors that influence consumer buyer behavior?
A variety of factors go into the consumer buyer behavior process, but here we offer just a few. Taken separately, they may not result in a purchase. When put together in any number of combinations, the likelihood increases that someone will connect with a brand and make a purchase. Four factors influencing consumer buying behavior are:
- Cultural Factors - Culture is not always defined by a person's nationality. It can also be defined by their associations, their religious beliefs or even their location.
- Social Factors - Elements in a person's environment that impact the way they see products.
- Personal Factors - These may include someone's age, marital status, budget, personal beliefs, values, and morals.
- Psychological Factors - A person's state of mind when they are approached with a product will often determine how they feel not only about the item itself but the brand as a whole.
What are the four types of buyers?
1. The Analytical Buyer - Motivated by logic and information, this buyer will look at all the data on competing brands and products before making an informed decision.
2. The Amiable Buyer - Warm and friendly, this buyer just wants everyone to be happy. That is why they are often paralyzed by big decisions when there is the perception of a win/lose outcome.
3. The Driver Buyer - Drivers are most concerned with how others view them and whether they follow. The trendsetters, Drivers are most concerned with their appearance rather than the relationships that are formed during a transaction.
4. The Expressive Buyer - Relationships are key to the Expressive Buyer. They cannot stand feeling isolated or ignored during a transaction. Instead, they want to feel like your most important asset.
It's hard to distill something as complex as consumer buying behavior into four neat and tidy categories. Most people will find they are a combination of these types of consumer buying behavior.
Interested in understanding your target audience's online consumer buying behavior? Click here to learn more.