Different Kinds of Buying by Consumers
Javier Ramirez
Liberty University
BUSI 520: Strategic Marketing Management
Muriel Wilson
January 23, 2022
Different Kinds of Buying by Consumers
Hand-to-mouthbuying
It refers to buying in small quantities. Most families buy the vegetables needed for daily
use on this basis.
2.Speculativebuying
Businessmen, who anticipate a rise in the price of certain goods, accumulate stock of
such goods in the hope of selling at a higher price. Such a kind of buying, known as
speculative or forward buying is quite common in a share market. ‘Shares’ are goods as per
the ‘Sale of Goods Act’.
3.Buyingbyinspection
As buyers, we have the right to examine the goods we buy. But in some cases, the
buyer may not be in a position to exercise such a right either because the seller is in a
different place (when goods are imported) or the seller may not permit such an examination
(when certain second hand goods are auctioned).
4.Buyingbysamples
It is not unusual for a buyer to ask for samples of certain items before buying. For
example, when we buy sweets or savories we do ask for samples. In some cases, the
conformity of the sample to the bulk needs to be checked.
5.Buyingbydescription
Manufacturers of furniture items usually make available catalogues showing different
models to enable their customers to choose. They also make furniture as per the description
and specification given by their clients.
6.Contractbuying
Manufacturers who require regular supply of raw materials often enter into long-term
contracts with the suppliers. The suppliers provide certain quantity of such materials at a
certain price for a fairly longer period of time.
7.Scheduledbuying
This kind of buying is done by two business units where the output of one is the input of
another. For example, there may be an agreement between a manufacturer of paper and a
manufacturer of notebooks by which the former will supply the latter certain quantity of
paper at regular intervals. By this practice they help each other.
8.Periodbuying
This refers to the practice of buying at regular intervals. For example, most of us buy
the provisions needed for our kitchen in the beginning of each month. We usually buy from
a particular provision store and the order is placed either in person or over telephone.
‘Subhiksha’, a popular departmental store has also introduced ‘Internet Shopping’.
9.Buyingbyrequirement/need
Certain goods are demanded mainly during a particular season. These are called
seasonal goods. Examples: In India, Crackers are demanded during Diwali. The demand for
sugarcane is more during Pongal. Books and notebooks are in demand in the beginning of
the academic year. The demand for umbrellas and raincoats is more during rainy season.
10.Openmarketbuying
It refers to the practice of buying certain goods not out of necessity but mainly because
their prices have been slashed. This is done in the case of jewellery.
11.Reciprocalbuying
When two business units agree mutually to buy from each other it is known as
reciprocal buying. For example, there may be an understanding between a paper mill and a
stationery shop by which the former will supply the paper required by the latter and the
latter will provide the stationery items needed by the former.
12.Concentratedbuying
It refers to a situation where goods need to be purchased from a particular source only.
It happens because the source of supply is confined to a particular region. For example,
most of the publishers of college books are Delhi based in India.
13.Scatteredbuying
It is just the opposite of concentrated buying. In this case, buying is done from any
source that is profitable and convenient.
RationalProductBuyingMotivesofConsumers
Generally, people are rational in buying. The rational buying motives are based on one’s
thoughts and judgement. Consumers purchase a product by testing, comparing and
observing the product keenly in terms of price, quality and durability.
1. Durability
Customers always wish to purchase products that have the longest possible life span,
needing least maintenance. Unless they are satisfied by the quality, reliability and durability
of the product, they would not buy it. The salesman while appealing to this motive, should
emphasize the durability, quality and reliability factors while selling products like radio,
furniture, fan, raincoat, umbrella, scooter, refrigerator, etc.
2.Suitability
A product is regarded suitable if it suits the needs of the buyers. If product such as wall
clock, emergency light, refrigerator, give him maximum utility, then they are inclined to
purchase it. Thus, the customers are always conscious about the suitability factor while
purchasing.
3.Varietyofuses
It is common to find that some customers prefer a product when it can be used for a
variety of purposes. In fact, a rational buyer always takes into account the additional
benefits he will derive out of the article. In other words, he always wants to get maximum
benefits out of minimum spending. For example, he prefers a sofa-cum-bed instead of an
ordinary sofa.
