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    Assignment#2 Models of Buyer Behavior

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    hiba khan
    The document discusses models of buyer behavior for both individual consumers and organizational buyers. It outlines a six-stage process consumers go through when making a purchase: need recognition, information search, evaluation of alternatives, purchase decision, consumption, and post-purchase evaluation. For organizational buyers, the process is more formalized and focused on business needs like cost and profitability. Understanding the different buyer behavior models helps marketers target customers and influence purchasing decisions.

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    Assignment#2 Models of Buyer Behavior

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    hiba khan
    82 views3 pages
    The document discusses models of buyer behavior for both individual consumers and organizational buyers. It outlines a six-stage process consumers go through when making a purchase: need recognition, information search, evaluation of alternatives, purchase decision, consumption, and post-purchase evaluation. For organizational buyers, the process is more formalized and focused on business needs like cost and profitability. Understanding the different buyer behavior models helps marketers target customers and influence purchasing decisions.

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    The document discusses models of buyer behavior for both individual consumers and organizational buyers. It outlines a six-stage process consumers go through when making a purchase: need recognition, information search, evaluation of alternatives, purchase decision, consumption, and post-purchase evaluation. For organizational buyers, the process is more formalized and focused on business needs like cost and profitability. Understanding the different buyer behavior models helps marketers target customers and influence purchasing decisions.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    82 views3 pages

    Assignment#2 Models of Buyer Behavior

    Uploaded by

    hiba khan
    The document discusses models of buyer behavior for both individual consumers and organizational buyers. It outlines a six-stage process consumers go through when making a purchase: need recognition, information search, evaluation of alternatives, purchase decision, consumption, and post-purchase evaluation. For organizational buyers, the process is more formalized and focused on business needs like cost and profitability. Understanding the different buyer behavior models helps marketers target customers and influence purchasing decisions.

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    of 3

    Written Assignment#2 BUS 5112: Marketing Management

    Models of Buyer Behavior


    Introduction
    Consumer/buyer behavior is the mechanism in which products and services are purchased,
    chosen and consumed by the consumer to satisfy their needs and desires. At first, the customer
    finds the items he/she needs to buy and then selects the products that satisfy their need and tests
    the availability of money they want to spend after choosing the consumer goods and eventually
    checks the price of goods and makes the decision. There are several variables that influence the
    buyer's purchase, such as social, cultural, demographic, psychological, personality, etc.
    It should be because the customer may be both individuals and organisations, and to fulfill their
    everyday tasks, they need to purchase products. The manner in which companies buy their
    goods/services and how an individual store makes a huge difference. If you want to target both
    an organizational market and a customer market, it is necessary to consider these distinctions.
    (2011: Winer, R. & Shar, R.)
    Model of buyer behavior for goods or service
    In addition to knowing your consumers' desires, you also need to understand what motivates
    them to purchase and how you can impact the purchasing process to ensure that your goods or
    services are on the shopping list. Understanding your customers can help you grow and sell your
    product, as well as get the right price point and develop effective promotional activities.
    Both corporations and customers show purchasing behavior patterns. As the company clients
    will almost definitely have some formalized purchase mechanism in place, the business model is
    less subject to debate. Your job is to grasp the process and adapt the various phases of the
    process to your marketing activities. This ensures that the customer receives the correct form of
    contact at the right time.
    For anyone making marketing choices, this model is important. Instead of only the purchasing
    decision, it causes the marketer to understand the entire buying process (when it might be too
    late for a company to affect the choice!)
    The model means that with any acquisition, customers go through all phases. In more regular
    transactions, however, clients sometimes miss some of the steps or reverse them.
    A student buying a favorite hotdog, for example, will recognize the need (hunger) and go straight
    to the purchasing decision, ignoring the quest and assessment of details. However, when it comes
    to understanding any purchase that needs some consideration and deliberation, the model is very
    useful. (Purchaser Action Model, n.d.).
    Written Assignment#2 BUS 5112: Marketing Management

    The purchase process begins with the identification of needs. At this point, the buyer recognizes
    a problem or needs to determine how much data (if any) is needed by a "aroused" client. If the
    need is high and there is a product or service that satisfies the need close to hand, then it is
    possible that a buying decision will then be made. If not, then the knowledge quest process
    begins.
    From several sources, a customer may obtain information:
     Personal sources: friends, relatives, neighbors
     Commercial sources: advertising; salespeople; retailers; distributors; packaging; screens
    for point-of-sale
     Public sources: newspapers, radio, TV, consumer organizations; professional journals
     Experiential sources: handling, examination, use of the object.
    The utility and effect of these knowledge sources can differ by product and by consumer. The
    client must choose between alternative brands, goods and services at the evaluation stage. A
    significant determinant of the scope of the evaluation is whether the client feels "involved" in the
    product. (Purchaser Action Model, n.d.).
    Model for Organizational buyer verses individual buyer
    The research model for an organizational buyer versus an individual purchaser is below. The
    distinction and the facts are clearly stated:
    Organization Buyer Individual Buyer
    Organizations buy products to be used and Individual customers buy items and
    resold to customers in their ongoing activities equipment for their personal use.
    In general, companies buy products in larger For their personal use, individuals purchase
    quantities and are motivated by consumer small or retail amounts.
    Written Assignment#2 BUS 5112: Marketing Management

    demand and the need for manufacturing


    materials.
    More raw materials are often purchased by Individuals do not have the ability or
    organisations, such as office utensils, drinks, expertise to use these raw materials as a
    electrical equipment, wood, steel and other commodity.
    goods used in the manufacture of
    It is much more difficult to entice a company On the other hand, individual customers are
    to purchase an unwanted product, especially both motivated by need and by desire.
    when working with the buying department Consumers may be enticed to buy anything
    responsible for what it spends. they do not need through successful
    marketing or peer pressure

    Conclusion
    It can be noted, in conclusion, that:
     In making a purchasing decision, there is a process that a customer (organization or
    person) goes through. If the process is underway, before making the actual purchase, a
    prospective buyer may withdraw at any point. This six-stage method reflects the steps
    people take when they actively want to learn about the choices and choose a product the
    first time they purchase a product, for example, or when they buy high-priced, long-
    lasting products that they don't buy regularly. (Process Stages of Purchasing, n.d.).
     Individual customers purchase or fulfill their desires for the ultimate use of products and
    services.
     Goods and services are bought by companies for their business needs. The object of their
    purchase is to make a profit by using the products and services and reselling them.
    References
    1. The University of Minnesota. Chapter 3 (2010). Principles of marketing. Licensed
    under Creative Commons Attribution-Noncommercial-Share Alike 4.0.
    2. Winer, R. & Shar, R. (2011). Marketing Management (4th ed.). Boston: Prentice Hall
    3. Model of Buyer Behavior Retrieved from
    https://mktngmanagement.blogspot.com/2012/06/model-of-buyer-
    behavior.html#:~:text=This%20model%20is%20important%20for,all%20stages%20i
    n%20every%20purchase
    4. Buying process stages Retrieved from
    https://courses.lumenlearning.com/clinton-marketing/chapter/reading-buying-process-
    stages/

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