Essay: Buying PatternMay 23, 2011 Comments Off on Essay: Buying Pattern Academic Papers on Business Studies,Sample Academic Papers admin
Buying Pattern can be explained as a method in which individuals or groups buy substantial or insubstantial goods to gratify their needs or preferences (Hawkins, Best and Coney, 2004). Currently, the function of the consumer is of huge macro and micro-importance as the spending power is an essential financial motivating strength. The huge implication of the customer’s position can be documented from the detail that most modern customers use a great amount of time and energy on buying actions and decision-making activities.
This is why buying pattern is known to be a route, which comprises of all activities linked to buying goods and services. These elements include gathering information or data; exchange of information; selection; purchasing and utilizing.
Behavior governing the purchase decisions is strong-minded by two prominent elements – internal and external (Miranda, Konya and Havrilla 2005). Demography, social norms, cultural actions, lifestyle are some of the intrinsic elements that are pointed out as essential to the determination of the buying behavior of an individual. On the other hand, there are a number of extrinsic elements that govern the objective of determining the behavior of buyers. These elements entail marketing promotions, publicity, customer service, economic and market steadiness and many more. In this regard, it will not be wrong to say that buying behavior is significantly firm and biased towards the enormously inter-reliant mix of customers’ buying consciousness and exterior enticements.
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