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Buyer Behavior , Importance and Objective




Buyer: a Buyer is a potential person (needy) and rational (having normal taste, habits, preferences, knowledge like every other people) and ready to buy goods and services at a certain price rate.
Buyer Behavior:
The study of such buyers is called the study of buyer’s behavior. Buyers are a human being they have some knowledge, thinking capacity, some experiences which they use while taking Buying Decision. Producers or company growth is depended on such decisions. A study of such behavior makes the company/manufacture easy to manipulate their mind or decisions so they can sell their product.
Let’s take one example if we think our self as a buyer, then it will be easy to understand.
Now think you are a buyer then what will be your first thought, it would be What should I buy? After you had decided on the product you want to buy, then you will think about When should I buy the product/commodity/ goods? Once it is decided you will look for methods that how will you buy it hence the third step will be How to Buy? Its also includes Where to buy? All that process will end once you decided From whom to buy the product?
With the help of above an example we can say that “Buyer Behavior is a process where an individual decides the following aspects regarding the buying decision.
What to Buy?
When to Buy?
How to Buy?
Where to Buy?
From Whom to Buy?

After understanding what is consumer behavior? The question raises Why the study of Consumer Behavior is Important? We must understand that buyer behavior or a decision to buy a particular product depends on the motive or the purpose. Being a seller anyone must understand the following factor which makes the study of buyer behavior important.

Importance of the study of buyer behavior
1.   Buying Motives are different from person to person: Buyers are different from each other. They can differ based on needs, place, language, tastes, habits, preferences, choices, etc. for example, a need for shoes is different for runner and for a schoolboy. So it may affect the buying decision of buyers. 
2.the   Intensity of buying decision is subject to change: Intensity or urgency of situations may change the buying decision, for example, a person wants to buy a car of A company which is costly but he can’t sustain his need of a car so he will buy a less costly car of B company.
3.   Different customers have Different needs: Every customer have a need that is the reason he was buying the product but it is different for every buyer/customer. Not all buyer need the same commodity so it may affect the buying decision of buyers.

The main objectives of the study of buyer behavior are as follows:
1.   To understand needs, likes and dislikes of consumer/buyer: If producer understand the needs, likes and dislikes of  his customer he can make them satisfied with his product and services by making some changes in the product as well as services given by him and also provide different offers to his customer and also
2.   Create new customers: The study helps the producer to create new customers by giving / providing appropriate offers, goods, services. Due to the study of their behavior, a producer is capable to understand their need and able to convince them to buy his product.




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