The Behavior of the Buyer - Essay Example

Buyer Behavior Affiliation: Consumer tastes and preferences vary across individuals, and so are buying behaviors. Consumers base their buying behaviors on variant and specific product and service properties. However, quality and pricing concerns are the primary outstanding variables in that line. Consumers make buying decisions at every level of consumption, a scenario that marketers seek to evaluate, assess, and analyze in order to place products and services in a central position where sales are quickly and effectively realized (Sheth, 2011).

The buyer behavior of consumers works on the principle of rationality, meaning that every single consumer seeks to maximize utility at the minimum cost possible. Real-world marketing strategies must account for this principle in a bid to lure consumers into buying, and actually draw them to certain products and not others. The personal factor influencing buyer behavior is diverse and dynamic. Individual buyers exhibit different buying behaviors based on their tastes and preferences and the actual product or service properties they look at.

Price and quality sensitivity also plays a fundamental role in driving individuals into buying. There are those that buy due to price favorability, while others will pay the given price provided the product or service meets the desired quality (Lunn, 2011). On the same note, there are persons who buy products or services because they are expensive; purchase ostentatious commodities. Marketing in this line can also influence personal buying behaviors relative to meeting personal demands and properties in products and services (Lunn, 2011).

Personal factors in the buying behavior of consumers cannot be ignored relative to the purchase process and buyer behavior.