Differentiate between consumer behavior and business buyer behavior.

Question

What will be an ideal response?

Answer 1

Answers will vary. Consumer behavior refers specifically to how people act when they are buying, using, and discarding goods and services for their own personal consumption. Consumer behavior also explores the reasons behind people's actions. The decisions they make often seem spontaneous but often result from a complex set of influences, including cultural, social, personal, and psychological elements. Marketing can influence the purchase decision every step of the way, from helping consumers identify needs (or problems), to resolving that awful feeling of cognitive dissonance (or kicking oneself) after a major purchase. Some marketers attempt to avoid cognitive dissonance altogether by developing specific programs to help customers validate their purchase choices.On the other hand, business buyer behaviorrefers to how people act when they are buying products to use either directly or indirectly to produce other products (e.g., chemicals, copy paper, computer servers). Business buyers typically have purchasing training and apply rational criteria to their decision-making process. They usually buy according to purchase specifications and objective standards, with a minimum of personal judgment or whim. Often, business buyers are integrating input from a number of internal sources, based on a relatively formal process. And finally, business buyers tend to seek (and often secure) highly customized goods, services, and prices.