Explore the World's Best Ideas
Join today and uncover 100+ curated journeys from 50+ topics. Unlock access to our mobile app with extensive features.
4 Buying Behaviours
There are different consumer buying behaviours, which can be categorised in the following 4 :
- Extended Decision-Making
- Limited Decision-Making
- Habitual Buying Behavior
- Variety-Seeking Buying Behavior
21
272 reads
1. Extended Decision-Making (Buying Behaviour)
- Extended Decision-Making occurs when consumers are buying a rather expensive product.
- You spend some time doing in-depth research about the product, before making your final purchase decision.
- Since it is a high-end product, the economic risk of buying it is much higher than if you would buy an average product.
- Simply put, you would not necessarily purchase the item on a daily basis.
- Therefore you spend more time evaluating the looks and the use of the product, and how you will feel about it after purchasing it.
- You might even ask your family and friends for advice, or read product reviews online before committing to investing.
19
85 reads
2. Limited Decision-Making (Buying Behaviour)
- This essentially means that there is a limiting variety or availability of this product on the market.
- For example, you really fancy this pair of sunglasses with white frames and yellow-tinted lenses. However, there are only two brands out there that offer this style of sunglasses.
- Brand āXā offers their sunglasses for 195,-.
- But the other sunglasses available, by the brand āZā, costs 365,-, which is far more expensive than those sold by brand āXā.
- Since you do not have a lot of options (and because you desperately want to own this stylish pair of sunglasses with yellow-tinted lenses), you decide to spend your money on brand āXā anyway (even though they are pretty expensive).
19
54 reads
3. Habitual Buying Behavior
- Habitual Buying Behaviour plays a big role in our daily routine. We do not put a lot of thought or research into buying a product that is incredibly cheap and available in masses, at the same time.
- For instance, you frequently buy a new pair of socks. Either because you always misplace them or because you always end up having holes in them.
- What you do is, you continue buying the one pair of socks that costs the least amount of money, since you keep running out of socks. It has literally become a habit of yours.
19
43 reads
4. Variety-Seeking Buying Behavior
- You display this type of purchase behaviour when there are visible differences between a product within the existing brands.
- You, as a consumer, might want to try out a similar product of various brands out of curiosity.
- To give you a concrete example, you may feel the urge to buy a plain, white t-shirt in slightly different designs at multiple stores.
- Just because you might not want to wear the exact same white t-shirt every day - you want to switch things up every now and then.
- The t-shirt is very affordable at all places, so buying 3 or 5 of them should not be a problem at all.
19
35 reads
3 Tips on How to Cultivate a More Concious Buying Behaviour
- Choose quality over quantity. A product should last years, instead of a few months or even weeks, so if you have to repurchase it after only a few uses, is buying the product really worth it?
- The cheapest price is rarely the fair one - So spend some time researching your investments, even the very small ones. Consider how a product is made, where it was made, who made it, if they were fairly paid for their work and how it impacts the environment.
- Support conscious brands using ethical fashion certifications, like B-Corp.
18
34 reads
IDEAS CURATED BY
Lawyer turned Artist Visionary Curator & Gallerist. Empowering self-love and joy through art & words. www.innerjoyart.com š Instagram : dymphna.art
Dymphna Lanjuran's ideas are part of this journey:
Learn more about moneyandinvestments with this collection
How to create a diversified portfolio
How to analyze stocks and bonds
Understanding the basics of investing
Related collections
Similar ideas
5 ideas
4 ideas
The Psychology Behind Why People Buy Luxury Goods
investopedia.com
3 ideas
The neuroscience of branding
bigthink.com
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
ā
100+ Learning Journeys
ā
Access to 200,000+ ideas
ā
Access to the mobile app
ā
Unlimited idea saving
ā
ā
Unlimited history
ā
ā
Unlimited listening to ideas
ā
ā
Downloading & offline access
ā
ā
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates