What is Consumer Buyer Behavior
Consumer buying behavior means buying behavior of individuals who buy goods and services for their own consumption.
To sum up all the final consumers gather and make up the consumer markets.
Model of Consumer Buyer Behavior
Consumers take decisions and buy different products every day. For companies, consumer decisions are a great source of information about consumer, which means what, where, when and why consumer buy. To know about all why’s of consumer behavior is not that easy. For marketers important question is about consumer respond to those efforts marketers made. For those companies who better understand consumer response to different products features, advertising campaigns and product price.
All the inputs from marketing stimuli (price, product, placement and promotion) and other stimuli (economic, technological, political and cultural) enter into consumer black box where all these inputs turned into consumer responses.
Here is an important question for marketer, how all these inputs (marketing and other stimuli) convert in to buyer or consumer response in that black box. There are two parts of buyer’s black box, buyer’s characteristics and buyer’s decision process.