Types of Buying Decision Behavior
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Uploaded by FamousArcticTundra5828
Abu Dhabi University
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Summary
This document covers types of buying decision behavior, including complex, reducing, habitual, and seeking. It details the buyer decision process for new and existing products. Key external influences also explained, such as PESTEL and market growth matrices.
Full Transcript
**[Types of Buying Decision Behavior]** 1. **Complex**: When shoppers care and see big differences between brands. 2. **Reducing**: Shoppers are interested but don't see many differences between brands. 3. **Habitual**: Low interest and few differences those people buy out of habit...
**[Types of Buying Decision Behavior]** 1. **Complex**: When shoppers care and see big differences between brands. 2. **Reducing**: Shoppers are interested but don't see many differences between brands. 3. **Habitual**: Low interest and few differences those people buy out of habit. 4. **Seeking**: Low interest but clear brand differences; people change brands for variety. **[The Buyer Decision Process]** 1. The buyer notices a need or want. 2. The buyer looks for information about product. 3. The buyer compares different products or brands. 4. The buyer chooses a product to buy. 5. The buyer thinks about their choice. **[The Buyer Decision Process for New Products]** 1. **Awareness: The buyer learns about the new product.** 2. **Interest: The buyer becomes interested and looks for more info.** 3. **Evaluation: The buyer checks the product's benefits and features.** 4. **Trial: The buyer tries the product, often through samples or low-cost options.** 5. **Adoption: The buyer chooses to use the product orderly.** **[Consumer Markets and Buyer Behavior]** **Markets**: Places where people buy things for their personal use.\ **Influences**: culture, social groups, personal preferences, and feelings affect buying decisions. **[PESTEL Analysis]** 1. **Political: Government rules.** 2. **Economic: Economic growth.** 3. **Social: Cultural trends.** 4. **Technological: tech progress.** 5. **Environmental: sustainability.** 6. **Legal: Laws and rules.** **BCG Matrix** 1. **Stars**: High market share and high growth rate. 2. **Cash Cows**: High market share but low growth. 3. **Question Marks**: Low market share but high growth. 4. **Dogs**: Low market share and low growth. **[Ansoff Matrix]** 1. **Market Penetration: Selling more.** 2. **Market Development: New places.** 3. **Product Development: New products.** 4. **Diversification: New things in new places.**
