Buying habits
Buying behavior refers to the actions and decisions a consumer makes while buying products or services. This includes everything from seeking information about a product to deciding whether or not to buy the product, and even how the consumer pays for the product. The process of buying behavior usually involves several steps, such as awareness, consideration, evaluation, decision making and purchase.
Influencing a consumer's buying behavior
A consumer's buying behavior can be influenced by several factors, including personal preferences, budget, advertising, social norms, culture, marketing, the opinions of friends and family, economic conditions and product availability. As a business, it is important to understand and consider these factors when developing marketing and sales strategies. By understanding and responding to the needs and wants of consumers, companies can increase sales and strengthen their competitive position.
