Common Characteristics of Buyers

Crystal Watts By Crystal Watts, 31st Dec 2010 | Follow this author | RSS Feed | Short URL http://nut.bz/ts380j8-/
Posted in Wikinut>Business>Sales & Marketing

The consumer market can vary significantly based several factors including need, personality, culture, and lifestyle. Marketing strategies often develop around understanding how consumers think, reason, feel, and make selections.

Common Characteristics

The consumer market can vary significantly based several factors including need, personality, culture, and lifestyle. Marketing strategies often develop around understanding how consumers think, reason, feel, and make selections.

Marketing strategies often develop around understanding how consumers think, reason, feel, and make selections. For example, does environment, culture, or society influence the buyer's decision? Does emotion, product knowledge or money, influence the major decisions? Identifying some common characteristics in buyer potential help marketers improve marketing strategies and campaigns to reach consumers more effectively. Several common characteristics commonly found among buyers include the following definitions:

Consumers

Individuals that make purchases of goods and services typically based on personal needs, wants, or interest. Purchases are typically for use, consumption, or collection.

Business

Individuals or groups tasked to make purchases on behalf of a company or organization. The purchases serve no personal interest, need, or want. The purchase serves the needs and interests of the company or organization. Purchases are typically for use, inventory, resale, or asset possession.

Groups

Group or socially influenced buyers based purchasing decisions on the opinions of family, friends, peers, or other associates of influence. The opinions of others are the primary motivators and catalysts. The group defines for the buyer, what products are the ideal purchases or not. Other influences include when the buyer should purchase, where the buyer should make the purchase, and which brand to buy.

Brand

Brand loyal buyers are people that have committed to purchasing and repurchasing a specific brand or service -- regardless of others, regardless of popular opinion, regardless of prices. Brand loyal buyers are typically willing to pay higher prices to stick with their brand of choice versus paying less for products of similar quality. Loyalty to the brand serves as a key asset to businesses, future revenue, and usage.

Like-minded


Buyers who are like the crowd are individuals that want to be like and want to have what everyone else has. The buyer wants the latest fads and the latest trends. Individually is not the focus; having what is popular and desired by most is the focus.

Unique-minded

Buyers who want to stand out from the crowd are buyers that will make significant sacrifices to ensure what they want and what they purchase is not like others; the buyer preference is unique, not influenced by popular opinion, or by the desires of others.

Environment

Buyers that are environmentally conscious make purchases based on their environmental beliefs. For example, a buyer that is conscious of the environment will make the decision to buy recycled products based on his or her belief that recycled products are safe and contribute to an environmentally friendly society.

Health

Buyers that are health conscious make purchases based on their beliefs of better health. For example, a buyer that is health conscious is going to take the time to read the labels, learn about ingredients, and how the products are produced. The buy will take an account of both the beneficial and negative affects of their choices.

Knowledge

Buyers who make purchases based on research and knowledge about a product or service. For example, the buyer will compare prices, options, benefits, solutions, alternatives, news, reviews, convenience, and competitors prior to making a decision to purchase.

Perception

Buyers who make purchases based on their perception of a product or service. If he or she believes the product is good, suitable, or fit for the need or purpose, then the perception supports the decision to purchase without research, without proof, without facts. Assumption is the catalyst driving the purchase.

Tags

Brand, Buyer, Consumer Market, Consumer Personality, Marekting Strategy, Product, Sales

Meet the author

author avatar Crystal Watts
Crystal Watts is a Freelance Writer and leader in Digital Media across multiple verticles. She holds a Bachelor of Science Degree in Management an Associate Degree in Commercial Graphics and certificate in Digital Media. Crystal's expertise includes ...(more)

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Comments

author avatar RAMA KRISHNA.KOPPAKA
1st Jan 2011 (#)

well presented.Thanks a lot.

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author avatar Crystal Watts
1st Jan 2011 (#)

You're welcome and Happy New Year!

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author avatar RAMA KRISHNA.KOPPAKA
2nd Jan 2011 (#)

Thanks.Wish you a very Happy New Year 2011.May the New Year bring lots of happiness,good health,peace,long life to your door step,and deliver,to you.

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