Consumer Buying Behavior

New Product Development: Definition, Process

Getting the product right is the single most important activity of marketing. If the product is not what the market wants, no amount of price adjustment, dependable delivery, or brilliant promotion will encourage consumers to buy it – or at least, not more than once, and very few companies produce products which are ‘once-in-a-lifetime’ buys….

Types of Buying Decision Behavior

Buying behavior differs greatly for different types of products. As participants and deliberation in the buying process increase, buying decisions become more complex. The types of consumer buying behavior depend on buyer involvement and the degree of differences among brands. Four types of buying behavior are; Complex Buying Behavior. Dissonance- Reducing Buying Behavior. Habitual Buying…

Factors Influencing Consumer Behavior

Various cultural, social, personal, and psychological factors strongly influence consumer purchase decisions. Factors influencing consumer behavior are; (1) cultural factors (culture, subculture, and social class), (2) social factors (family, groups, and social roles), (3) personal factors (age and life-cycle stage, occupation, economic situation, lifestyle, personality, and self-concept), and (4) psychological factors (motivation, perception, learning, and beliefs and attitudes).

5 Stages of Consumer Adoption Process [Buyer Decision Process for New Products]

Consumer adoption process has five stage: awareness, interest, evaluation, trial, and adoption; Marketers should guide consumers through these stages for successful product adoption.

5 Types of Adopters: Innovators, Early Adopters, Early Majority, Late Majority, Laggards.

Different people try new products at varying speeds. For each product, we find consumption pioneers and early adopters. Other consumers adopt new products much later. Consumers pass through five stages in the process of adopting a new product. Let’s look at the diagram to understand how adopters adopt a new product over time. After a…

Consumer Decision Process [Buyer Decision Process]

Consumers go through the 5 stages of the buyer decision process in taking the decision to purchase any goods or services.