Consumer Purchasing Behavior

Consumer Purchasing Behavior - Consumer purchasing Behavior...

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Consumer purchasing Behavior 23:52 Economic needs Affect most buying Decisions Economic Buyers-  people who know all the facts and logically compare choices to get  the greatest satisfaction from spending their time and money Economic Needs-  concerned with making the best use of a consumer’s time and  money. Economic Needs a. Economy of purchase or use b. Efficiency in operation or use c. Dependability in use d. Improvement of earnings e. Convenience Improved economic value includes lower price, better design, less service, lasts longer. Discretionary Income:  what is left of income after paying taxes and paying for  necessities Psychological Influences within an individual Needs  are the basic forces that motivate a person to do something Wants  are “needs” that are learned during a person’s life. Drive  is a strong stimulus that encourages action to reduce a need Physiological Needs:  are concerned with biological needs – food, liquid, rest, and sex. Safety Needs:  are concerned with protection and physical well-being
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Social Needs:  are concerned with love, friendship, status, and esteem. – things that  involve interactions with others.  Personal Needs:  are concerned with an individual’s need for personal satisfaction –  unrelated to what others think or do. Self-esteem, accomplishment, fun, freedom, relaxation.
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Consumer Purchasing Behavior - Consumer purchasing Behavior...

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