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Consumer behavior refers to the study of groups, individuals, and other components of a specific organization that are involved in sales and purchases, consumer emotions, and the disposal of goods and services.
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The kind of goods a customer must purchase will have an impact on their decision. Consumer behavior is the action of a person who is directly involved in choosing how much time, money, and effort to spend on obtaining goods and services. A buyer’s actions alter depending on whether they are purchasing a vehicle or a cup of coffee. Based on these factors, four distinct forms of customer buying behavior are identified.
Such behavior is used when a product is pricey, infrequently bought, self-expressive, high-risk, and a one-time investment. Consumers play a significant role in the decision to buy in this infrequent transaction. Before investing, consumers will do extensive research.
Consumer involvement is extremely high in dissonance-reducing purchasing behavior. This can be the result of exorbitant costs and occasional purchases. Because of the displeasure brought on by prior purchases, such behavior is therefore primarily concerned with eliminating post-purchase dissonance.
When a consumer participates little in a purchase decision that is a sign of habitual buying behavior. Before making a purchase, very little thought is given because brand familiarity and availability are the only factors taken into account.
The consumer is not very involved in variety-seeking consumer behavior. Brands differ greatly from one another. In this scenario, the consumer has prepossession about the product, decides to purchase it after doing some research, and then, after consuming it, forms an opinion.
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This model depicts the behaviors, traits, and decision-making processes of consumers. It is the model that draws its inspiration from behaviorism’s “black box” idea. To obtain the necessary information, environmental elements and buyer characteristics are documented and represented.
After determining the issue, a consumer will look for pertinent details about the goods and services. To make a decision, the consumer consults both public and commercial sources.
After weighing all available options, the consumer makes a decision about which product to buy. The consumer purchasing process has five stages. Starting with the identification of the product, product research, alternative appraisal, and actual product purchase.
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