Types of Business Decision Behavior

Type of buying decision behavior.

Buying decision differs from person to person and from product to product. We often find ourselves in a position where we cannot make buying decisions quickly or independently. While sometimes we take buying decision unconsciously. The price and risk factor of purchasing a product plays an important role in buying decision behavior. There are four different types of buying behavior based on the extent of buyer involvement and the extent of differences among brands. These types of buying behavior are:

1. Complex Buying Behavior: the purchasing behavior in which consumers are highly involved and find significant differences between the brands then the consumers find themselves in complex buying behavior. Such type of behavior occurs when the customer is buying a product which is expensive, and is purchased infrequently such as cars, computers, house etc. Therefore in order to make final decision, the customer tries to learn more about the product such as product features, attributes, quality, durability, reliability etc. For this purpose, the customer seeks information from various sources such as print media and electronic media and develops a particular belief and attitude towards the product. Final purchase decision is only made when consumer is completely satisfied. it is essential for the marketers of high-involvement products to understand that consumers indulge in information gathering and evaluation processes and henceshouldbe assisted positively. Not only should Marketers help the customers to easily gather information about the products of company but they should also differentiate their products from the competitors.

2. Dissonance-Reducing Buying Behavior: Consumers indulge in dissonance-reducing buying behavior when they are purchasing a product which is expensive, risky and infrequently purchased. There are insignificant differences between the brands. It means that the customer can purchase product from...