SLP4: The Marketing Plan

Trident University

Brenda Andrade

Module 2 SLP 2 Assignment: Buyer’s Behavior Application

MKT 301: Principles of Marketing

Professor: Dr. Gordon Leichter

20 July 2020

Principles of Marketing Module 2 SLP

Businesses need consumers who would make a purchase decision to maintain the company afloat. Without consumers, the industry would soon be locked out of business. Nevertheless, it is essential to understand the consumer and the purchase decision-making process that he/she has to undergo before heading to the shops and outlets to make a purchase. The more reason is that whenever a consumer decides that he/she needs a product or service, it means that the consumer has a problem that he/she is trying to solve. Sadly, many factors influence the consumer buying decision process, and it is through understanding these influences the business can understand how to assist the consumer. The factors influencing consumer decision process and purchase behavior are clearly described in the buyer behavior model application, as described in this essay.

Buyer Behavior Model Application

The buyer behavior model is comprised of three different types of influences that a consumer is exposed to, and they include; situational, internal, and external forces. The same factors have a high impact on electronic goods consumers. Situational influences are the most influential because specific situations determine that the consumer is in at the time he/she has to make a purchase decision. They also fall under different conditions (Burnett, 2018). Some of the situations are buying tasks where the consumer is in a position to purchase a commonly used product or a rarely purchased product. For instance, electronic goods are seldom purchased, which means that the fact they are not basic needs might make the consumer delay the purchase decision. The market offering is a second influence where the consumer might be compelled to buy or not buy by the situations the market is offering. For instance, when there are discounted prices for different electronic goods, the condition may compel the consumer to make a purchase decision compared to when there are no discounted rates and other offers (Sokolovska, 2018). Lastly, demographic influence is also a situation, especially on gender and age. For instance, males are more likely to buy electronic goods than females, and even young people have higher chances than older people.

The external influences are also diverse, and the challenge is that they influence consumers to either make a purchase decision or not. Some of these influences include; culture, reference groups, social class, and family. For instance, the decision to purchase electronic goods would be highly influenced by these external factors. For example, if a family were in dire need of a specific electronic asset, the buyer behavior would be directed towards purchasing compared to when the family is not in demand (Burnett, 2018). The social class would also influence because if the consumer belongs to a social class that values electronic goods, the consumer is likely to make a purchase decision compared to when a consumer belongs to a social group with no need and importance for electronic goods. The culture is also essential because it determines how one thinks and perceives a product (Burnett, 2018). A culture with a positive view of electronic goods would make a consumer make an instant decision purchase.

Lastly, internal influences are personal issues on what a person believes ion without any form of authority, and such factors are; lifestyle, personality, learning, socialization, and motivation. For instance, a consumer with a quality lifestyle would have an internal desire to compel him/her to purchase electronic goods compared to a consumer with a low lifestyle and personality (Sokolovska, 2018). Lifestyle and nature dictate how one would perceive electronic goods as one would recognize them as a luxury while the other as basic needs. Whenever a person is motivated to buy an electronic product, an internal desire is created to purchase compared to a person being discouraged from making the purchase (Burnett, 2018). Lastly, learning and socialization expose people to new ideas and concepts. This makes people learn more about electronic goods leading to development in the internal need to buy electronic products. A person with no information and does not relate to people with electronic goods would have no need or desire to make such a purchase decision.

Conclusion

Making a purchase decision can either be influenced by the situation, internal or external factors. A business needs to analyze the target region's consumers to understand the most common buying hindrance to develop a solution.

References

Burnett, J. (2018). Introducing Marketing. Retrieved from https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=388 Pub Date: 2011 ISBN 13: Publisher: BCcampus

Sokolovska, A. (2018, April 19). Impact of Celebrity Endorsement on Consumer Buying Behavior. Retrieved from https://www.guided-selling.org/impact-of-celebrity-endorsement-on-consumer-buying-behavior/