Consumer behavior involves the process of a consumer making a decision on whether or not to purchase a product. The process involves the reason for purchasing a product and factors driving a consumer to purchase a product. Most companies find it necessary to analyze the effects of their marketing strategies on the consumer buying behavior. Consumer behavior should consequently address the; what, where, when, and how a product can be purchased by the consumers. This is referred to as the marketing mix (Brown, 2007). In this research, I will discuss consumer’s buying behavior placing emphasis on the Iphone Phone as a Product.
While trying to reach to decision on whether or not to purchase a product, several factors influence the end decision. This therefore means that the consumer’s decision to purchase is not always the result of consumer behavior. It is possible for a consumer not to make any purchases even after going through the consumers’ behavior stages. The stages involves; acknowledging a need, searching for information from both external and internal sources, evaluation of available alternatives and purchase decision (Brown, 2007).
Consumer behavior is classified into four types, which are; routine response, limited decision making, extensive decision-making and lastly impulse buying. Routine purchases are of a low cost and are made without much decision making process due to ease in affordability and simplicity of the product (Wiley, 2012). Limited decision-making requires a more sober mind and more time for one to make a decision. The extensive decision-making involves expensive and unfamiliar products. This is the perfect consumer behavior in the case of Iphone products. Impulse buying unlike the rest of the buying behavior is a random and an unplanned purchasing.
Several external factors greatly facilitate and influence the consumers’ behavior. These include situational, psychological and social influences (Wiley, 2012). Response to social and economical situation around a consumer is referred to as situational influence. By this, consumer behavior is influenced by the surrounding effects of the social circumstances around the consumer. Psychological influence is caused mainly by the consumers’ intrinsic perception and approach concerning a particular product. Social influences include the consideration of cultural and ethical values and the opinion of others while purchasing a product (Brown, 2007).
Iphone phone has gained much recognition in the phone industry due to its social status and functions that are attractive to the consumers. Purchase of this product is influenced by social influence to keep up with the current trend of technological advancement. Consumers are willing to pay any amount of money to acquire this product. This is because the products have been widely accepted by the society and has passed the social standards’ test. People with this type of a phone are held with high esteem in the society. Most of the consumers purchasing the product are doing so responding to people’s opinion.
The business environment and the situations around the business therefore influence consumer behavior. Consumers purchase their products after realizing a need and seeking to satisfy the need. A need and the way to satisfy it is influenced by all the above factors. Satisfying a need hence requires purchases. Influence on the customer to purchase a product can either be or not be successful with a positive result being purchasing the product. However, this does not always mean that consumer behavior will always yield or end up in a purchase.
References
Brown, A. (2007). Stages of Consumer Buying Behavior. Chapter 6 class notes. Web.
Wiley, J. (2012). An international research review. Journal of Consumer Behavior, 11, (2), 89-177. Web.