What’s in your mind when it comes to a product or a brand? A new pair of shoes, a television, a car or your bathing soap, whatever be, what is that deciding factor in purchasing something. Each product exists in the world because they provide a solution to various human needs. The decision processes taken by a customer is known as buying behaviour. Corporate branding these days with various tools of digital marketing like SEO services or PPC is trying the understand the buying behaviour of the customers.
The decision processes and acts involved in buying and using products is known as buying behaviour, or the buying decision of the consumers.
When you walk into a dress shop, you decide to pick one shirt which you felt is good for you. The same shirt was rejected by many which ended up in your hands. This makes us understand that the factors that affect these decisions may vary. Each individual has their own personal reasons in choosing what suits them and what not.
1. Social factor
Market researches show that one of the deciding factors is the culture. Each culture has a set of values, preferences, perceptions, and ideologies. Most individual sort the products according to the likability of the masses. Each culture is unique with its geography, religion or gender. Humans are mostly actively social and always belong to one circle or the other, like family, friends or job mates.
A family is the most active group who buy things at regular intervals, making them the most influential purchase group. Years back, grocery items were targeted at the women at the house. This has changed as women started going to work and became more independent. Now grocery brands are bringing things to market targeting both men and women, as men are equally involved in household things.
One’s social and financial status can also influence buying decisions. These circle of people will have similar values and interest. Some brands specialise on providing products for high-income people or the elite group. Apart from income, circles of the same occupation, neighbourhood or educational system can be considered having the same buying decision.
2. Psychological factors.
Each individual has different needs. These needs can be personal, social or biological needs. When a person’s psychological needs are fulfilled he tries to settle the other needs one after the other the same way. Individual change the buying behaviour after a bitter or sweat experience. This is also a learning process.
Your perceptions of a product are different from others. For example, if you and your friend go to buy a shoe, you might buy a lofter and your friend might buy a boot. This is the difference of perception of a need.
3. Personal factors.
Have your choices changed over a period of time? Do you prefer buying the same design shirt you bought at 18 now also? Age has an impact on a person’s tastes and buying decisions.
Have you wondered how ads are placed daily on television channels? A liquor ad is shown between a sports program while a grocery ad in-between a prime-time series.
Lifestyles of each people may differ with occupation, culture or social class. Some have personal choices while purchasing a product while some look for opinions from others. A person with a distinct personality has altogether a different need according to the behaviour he owns.
So the right brand positioning strategies would be a mix of every factor, creating the right product to the target audience. Smart marketing strategy persuades people and influences them in taking better buying decision. It should be understood that customer’s buying behaviour can’t be predicted but learning the buying behaviour, the brand can create better products.