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Consumers Purchasing Behavior

The document discusses low involvement products and consumer purchasing behavior related to them. Low involvement products require little consideration from consumers and have less risk, leading to faster decision making. When purchasing low involvement products, consumers spend less time obtaining information and pay little attention to the purchasing decision. Consumer purchasing behavior of low involvement products can be modeled stochastically rather than probabilistically due to the random nature of decisions on such products.

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18 views

Consumers Purchasing Behavior

The document discusses low involvement products and consumer purchasing behavior related to them. Low involvement products require little consideration from consumers and have less risk, leading to faster decision making. When purchasing low involvement products, consumers spend less time obtaining information and pay little attention to the purchasing decision. Consumer purchasing behavior of low involvement products can be modeled stochastically rather than probabilistically due to the random nature of decisions on such products.

Uploaded by

Adrija
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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REVIEW OF LITERATURE

What are Low Involvement Products:

You're in a car showroom, exploring the collection of cars available to buy. How
long does it take you to decide on a thing, purchase it, and leave the store in your
car? This scenario is significantly different for the majority of people in terms of
the time, effort, additional stress, and psychological labour required to make a
purchase choice.

When purchasing a low-cost item that is done regularly, such as breads or


toothpaste, the process is typically simple and predictable. A new automobile
purchase is not the same. The amount of complexity or ease of a choice is
determined by the following factors:

1)if the decision is unique or routine;

2)and the extent to which customers engaged in the decision.

Low involvement items, as the name indicates, need little to no consideration on


the part of the consumer before making a purchase. Low involvement purchases
contain less risk, which speeds up the decision-making process. The bulk of
FMCG items are minimal involvement products.

Consumer purchasing behavior on Low Involvement Products-

When purchasing low-involvement products, consumers spend fewer hours and


obtain less information. As a result, they pay little attention to their purchasing
decision. This is partly because minimal participation goods have a low cost of
failure. Along with uncertainties, In many cases, minimal cognitive choice making
happens, particularly in low participation items and commonly purchased
packaged goods.

A statistical approach that focuses on the random character of decision is


preferable to a probabilistic model in such instances. In this work, researchers
created a stochastic model for customer purchase decisions of minimal
involvement items. We evaluated the annoyances that a buyer can face during
the buying process.
These agitations generate internal force, stimulating the consumer's psyche.

These pressures are chaotic, and as a result, buying decisions are


unpredictable.

According to researchers, it's critical to keep in mind that current concerns about
product quality and safety have a significant impact on consumers' purchase
decisions. To raise corporate social responsibility awareness and achieve
company sustainable development, it is crucial to thoroughly understand how
CSR influences customer buying patterns. The authors develop a model of
consumer purchasing behavior through the illustration of elements that affect
consumers' perceptions of CSR. This model helps to understand and anticipate
the impact of CSR on customers and offers useful marketing advice.

This article offers some thoughts on some of the factors that influence
consumers' purchase decisions. Consumer purchasing behaviour is influenced
by a variety of social, political, and individual elements that can be categorised
collectively as social, political, and individual factors. There were discussed
psychological, social, economic, and demographic determinants. Both external
and internal links within the group of factors as well as relationships between
groups of factors were attempted to be identified.

Cited Work:

Adhikari, A. (2019) Consumer Behavior in Low Involvement Product Purchase: A


Stochastic Model. Theoretical Economics Letters, 9, 424-430. doi:
10.4236/tel.2019.92030.

Gopal Ds, Rohit Vishal Kimar, “Impact of store amenities on buyer’s behavior”
Idian journal of marketing, 2009.

Harold H. Kassarjian (1981) ,"Low Involvement:&Nbsp; a Second Look", in NA -


Advances in Consumer Research Volume 08, eds. Kent B. Monroe, Ann Abor,
MI : Association for Consumer Research, Pages: 31-34.

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