A marketing firm must ascertain the nature of customers'
buying behavior if it is to market its product properly. In order to entice and
persuade a consumer to buy a product, marketers try to determine the behavioral
process of how a given product is purchased. Buyer behavior in the digital age
is assessed through analytics and predictive modeling. The analysis of buyer
behavior through online platforms includes Google Analytics and vendor side
software such as Experian. The psychology of marketing is determined through the
analysis of customer perception pertaining to brands. Marketing theory holds
that brand attributes is primarily a matter of customer perception rather than
product or service features.
Buying behavior is usually split into two prime strands,
whether selling to the consumer, known as business-to-consumer (B2C), or to
another business, known as business-to-business (B2B).
B2C buying behavior
This mode of behavior concerns consumers and their purchase
of a given product. For example, if one imagines a pair of sneakers, the desire
for a pair of sneakers would be followed by an information search on available
types/brands. This may include perusing media outlets, but most commonly
consists of information gathered from family and friends. If the information search
is insufficient, the consumer may search for alternative means to satisfy the
need/want. In this case, this may mean buying leather shoes, sandals, etc. The
purchase decision is then made, in which the consumer actually buys the
product. Following this stage, a post-purchase evaluation is often conducted,
comprising an appraisal of the value/utility brought by the purchase of the
sneakers. If the value/utility is high, then a repeat purchase may be made.
B2B buying behavior
This mode of behavior involves one business marketing a
product or service to another business. An example would be a business buying
either wholesale from other businesses or directly from the manufacturer in
contracts or agreements. B2B marketing
doesn't always involve wholesale products. For example, it could be a business
selling business services such as a website or digital marketing. B2C and B2B
behavior are not mutually exclusive terms, as similarities and differences
exist, with some key differences listed below:
In a straight re-buy, the fourth, fifth, and sixth stages
are omitted. In a modified re-buy scenario, the fifth and sixth stages are
precluded. In a new buy, all stages are conducted.
