Examples of Extensive Decision Making Buying Behavior in the following topics:
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- Different types of buying decisions can involve logical, impulsive, and emotional motivations.
- Buying decisions are based on buyer behavior.
- Consumer behavior and business behavior can differ because their buying processes are different.
- Because consumers often buy on emotion, ads can affect the buying decision.
- Sometimes the type of product will make a difference in the buying decision.
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- Extensive research is often used to understand what appeals to buyers: colors, thought triggers, images and sounds; all of these factors address psychological buying behaviors.
- Societal buying behavior incorporates identification and suggestion to prompt a specific buyer behavior.
- Situational buying behavior involves a specific scenario or event that pressures a buyer to purchase product.
- Age and gender influence how web and mobile devices are used and how decisions are made.
- This allows the platform to track users throughout their web journey and make rules-based decisions about what content to serve.
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- Routine Response Purchasing Behavior: Examples of items purchased include soft drinks and candy bars.
- Extensive Decision Making Purchasing Behavior: examples include cars, apartments, and electronic equipment.
- It attempts to understand the buyer decision making process, both individually and in groups.
- The marketing organization needs to understand what benefits consumers are seeking and therefore which attributes are most important in terms of making a decision.
- It also needs to check other brands of the customer's consideration set to prepare the right plan for its own brand.Once the alternatives have been evaluated, the consumer is ready to make a purchase decision.
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- B2B buying situations vary from B2C buying situations, so B2B marketers must develop different capabilities.
- Since there are more people involved in the decision-making process and technical details may have to be discussed in length, the decision-making process for B2B products is usually much longer than in B2C.
- Such detailed assessment eliminates the risk of buying the wrong product or service.
- Buyers go though three stages of the buying process, which include:
- Like B2C businesses there are similar buying types in B2B sales activities that include new buys, straight re-buys and modified re-buys.
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- Extensive distribution is the primary marketing strategy.
- From the consumer's perspective, little time, planning, or effort go into buying convenience goods.
- In contrast, shopping goods are items that consumers want to be able to compare and contrast with others before they make a purchasing decision.
- Many buyers conduct extensive research into buying a car.
- Examples of questions that the buyer will ask themselves include: do I want to buy a new or a used car?
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- In assessing the current understanding of cultural differences in decision making, it is important to consider first the three decision-making models:
- With the cultural affects on decision-making in mind, the conditions which influence the direction of a decision provide a clearer picture.
- Priming - The subconscious cognition generated by exposure to specific cultural perceptions, which eventually are illustrated via behaviors such as decision-making.
- Indeed, more dogmatic cultures are less likely to feel the need to explain their decisions (i.e. which cola to buy), and thus arrive at conclusions differently.
- Decision making in different cultures is the result of both the decision-making models and the decision-making factors.
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- Business customers - as compared to consumers - tend to be more rational, are more concerned with quality, and look to make lasting relationships.
- Because B2B sales cycles can extend over months and even a few years, the business customers are more cautious and rational in their purchasing decisions than day-to-day consumers.
- Predicting customer purchase behavior also allows B2B companies to segment industrial markets.
- Companies and organizations face challenges in business market segmentation since B2B markets face greater complexity in buying processes, buying criteria and actual products and services.
- The goal for every industrial market segmentation scheme is to identify the most significant differences among current and potential customers and/or suppliers that will influence their purchase decisions or buying behavior, while keeping the segmentation approach as simple as possible.
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- Marketing strategy should take into account the level of involvement that a consumer has with a specific product, as this also dictates the type of information that the consumer needs to process in order to make a purchase decision.
- Low-Involvement purchases tend to be made by habitual decisions (e.g., dish washing liquid, toothbrush).
- Moderate-Involvement purchases tend to be made by simple decisions (e.g., orange juice, snacks).
- High-Involvement purchases tend to be made by lengthy or more involved decisions (e.g., a car or a house).
- The four main types of buying behavior in consumer marketing depend on the level of consumer involvement:
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- Incentives are ways to encourage or discourage certain behaviors or choices.
- The study of incentive structures is central to the study of all economic activities (both in terms of individual decision-making and in terms of cooperation and competition within a larger institutional structure).
- The lowering of the price makes the purchase a better idea for some customers; the sale seeks to persuade individuals to change their actions (namely, to buy the product).
- Natural Incentives: Things such as curiosity, mental or physical exercise, admiration, fear, anger, pain, joy, or the pursuit of truth, or the control over things in the world or people or oneself cause individuals to make certain decisions.
- Companies leverage incentives-based strategies to drive performance and optimize employee decision-making and behaviors through meaningful reward systems.
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- Similar to consumers, B2B purchase influences encompass different variables that affect business customers' buying behavior.
- Customer behavior study, which is based on consumer behavior, is helpful in analyzing how B2B sales and marketing activities reinforce the purchasing behavior of B2B customers.
- A straight "re-buy" occurs when a customer buys the same product, in the same quantity, from the same vendor.
- Unlike consumer buyer markets, business customers are less emotional and more task-oriented during the buying and decision-making process.
- Quality, price, and delivery mechanisms, rather than emotional motives, tend to dominate the purchase decisions of B2B buyers.