Buyer behavior

Definition

Buyer behavior encompasses the actions and decision-making processes of consumers when they purchase goods and services. It examines how individual choices are influenced by factors such as personal preferences, psychological drives, and social influences.

Related terms

Market Segmentation:

The process of dividing a broad consumer or business market into sub-groups based on shared characteristics.

Consumer Psychology:

The study of how thoughts, beliefs, feelings, and perceptions influence how people buy and relate to goods and services.

Purchasing Decision Process: The sequence of steps taken by a consumer from recognizing a need or want to making a purchase decision and post-purchase evaluation