The degree to which a reference group will affect a purchase decision depends on an individuals susceptibility to reference group influence and the strength of his/her involvement with the group. Show Social Class--an open group of individuals who have similar social rank. US is not a classless society. US criteria; occupation, education, income, wealth, race, ethnic groups and possessions.Social class influences many aspects of our lives. IE upper middle class Americans prefer luxury cars Mercedes.
Lower class people tend to stay close to home when shopping, do not engage in much prepurchase information gathering. Family, reference groups and social classes are all social influences on consumer behavior. All operate within a larger culture. Culture and Sub-culture--Culture refers to the set of values, ideas, and attitudes that are accepted by a homogenous group of people and transmitted to the next generation.Culture also determines what is acceptable with product advertising. Culture determines what people wear, eat, reside and travel. Cultural values in the US are good health, education, individualism and freedom. In american culture time scarcity is a growing problem. IE change in meals. Big impact on international marketing. Analysing consumer buying behaviour and industrial buying behaviour from SUJIT DAS Anything of value offered by an organisation to the market for satisfying their want or need is known as a Product. The concept of product not only relates to the physical product but also the benefits offered by the product. For example, while purchasing a washing machine, a consumer does not only look for its physical qualities but also some intangible factors, such as its brand name, guarantee offered, company’s image, status symbol, etc. Hence, it can be said that a product is a mixture of tangible and intangible features, a consumer can exchange for a value in return to satisfy their needs. The three types of benefits provided by a product to the customers are; namely, Psychological benefits, Functional benefits, and Social benefits. For instance, Sayeba purchased a wall painting from an art gallery arranged by an NGO. After making the purchase, the functional benefits gained by her will be the decoration of her living room. Similarly, she will get psychological benefits in the form of satisfaction with her interest in art and creativity. However, as she has purchased the painting from an NGO’s art gallery, the money will be used as a donation, which provides her social benefits in the form of acceptance and a good image in the eyes of people. Products can be classified into two categories; viz., Consumer Products and Industrial Products. Consumer ProductsThe products which directly satisfy the wants and needs of a consumer are known as Consumer Products. For instance, soap, clothes, bread, jam, butter, etc. Consumer products are used by consumers for their personal needs. These products can be further classified into two categories: On the Basis of Durability( Non-Durable Products, Durable Products, and Services) and On the Basis of Shopping Efforts(Convenience Products, Shopping Products, and Speciality Products). Industrial ProductsThe products used by the organisations as inputs for the production of other products are known as Industrial Products. For example, lubricants, tools, equipment, machines, etc. Industrial Products can be classified into three categories; namely, Materials and Parts, Capital Items, and Supplies and Business Services. The differences between consumer buying behavior and organizational buying behavior can be listed as follows: BasesConsumer Buying BehaviorOrganizational Buying BehaviorPurpose of BuyingThe individual consumers buy goods and services for ultimate use or satisfy their needs. The buying purpose of such consumers is not to earn profit by reselling the goods and services. The organizations buy goods and services for their business needs. The buying purpose of them is to earn profit by using and reselling the goods and services. Although consumers buy various kinds of goods, the quantity of goods remains small. They buy only the necessary quantity of goods, which they need for regular use. Organizational buying is done in large quantities. There are several reasons why organizations must buy the goods they need in bulk. In the first place, they use large quantities of each item and must maintain inventories at a level high enough that they will not run out of stock. Secondly, it is cheaper and more efficient to make large-volume purchases. Purchase DecisionConsumer buying takes decision by consumers themselves. Sometimes they can consult with family members and friends. They need not fulfill any formality like organizational buying. Organizational purchasing is a rational process because the purchasing behavior of organizations is guided by objective factors having to do with production and distribution. It takes long time than consumer buying. Most of the consumers may not have adequate knowledge and information about market situation, available goods and services, etc. The educated customers may be aware and have knowledge about market and goods. Organizational purchase criteria are specifically defined. Organizational buyers usually have fewer brands to choose from than do individuals, and their purchases must be evaluated on the basis of criteria that are specific to the overall needs of the organization. The organizational buyers have full knowledge of market and suppliers. Types of GoodsConsumers buy many goods to use to satisfy personal or family needs. Organizational buyers buy limited goods to use to conduct business. EffectConsumer buying behavior is effected by age, occupation, income level, education, gender etc. of consumers. Many individuals are involved in the buying process. Within large organizations, rarely is one individual solely responsible for the purchase of products for the purchase of products or services. Instead, many individuals and departments may be involved and departments may be involved in the buying process. Buying ProcessThe consumer buying process is very simple. No need to fulfill any formality. There is also no need to maintain extensive contact with sellers. What is the difference between consumer buying behavior and industrial buying behavior?The individual consumers buy goods and services for ultimate use or satisfy their needs. The buying purpose of such consumers is not to earn profit by reselling the goods and services. The organizations buy goods and services for their business needs.
What are the main differences between industrial buyers and consumers?Industrialbuyers purchase goods after a period of time and they purchase for making profit whereas consumers go for routine purchases in their everyday activities and they do not buy product for the purpose of making profit.
What is the difference between consumer and industrial product?Industrial goods are bought and used for industrial and business use. Consumer goods are ready for the consumption and satisfaction of human wants. While industrial goods are made up of machinery, plants, and raw materials, consumer goods are commodities purchased by a buyer like clothing, food, and drinks.
What is industrial buying behavior?Industrial buying behavior is the pattern of actions by a company involved in manufacturing, processing and other heavy industry. Many of these companies are required to make regular purchases as a means of supplying their businesses.
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What is the difference between consumer buying behaviour and industrial buying behaviour?
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