How to understand consumer buying behavior ?

Consumer Buying Behavior is the study of how people make decisions about what they buy, want, need, or act in regard to a product, service, or company. Consumer buying behavior is a complex and dynamic aspect of the marketplace, influenced by a myriad of factors that shape purchasing decisions in today’s world of online shopping and e-commerce.
Understanding the psychology behind consumer choices, the impact of product reviews, and the role of discounts and deals are essential elements for businesses aiming to thrive in the competitive market.
This guide delves into the various facets of consumer buying behavior, exploring product satisfaction, purchasing trends, and the crucial role of customer feedback in shaping the online shopping experience.

From buyer confidence to brand reputation, we examine the factors that influence purchase decisions and consumer preferences, offering insights into the strategic consumer analysis that drives successful marketing campaigns. Consumer behavior plays an important role in the positioning of your product. So, before launching a product, it is certainly inevitable to understand consumer buying behavior. There are two types of Buying Behavior. They are :

Variety Seeking Buying Behavior Habitual Buying Behavior

You need to ascertain whether your consumer is exhibiting a ’variety-seeking buying behavior’ or ’habitual buying behavior.

A consumer exhibiting ’variety-seeking buying behavior’ is always looking for buying something new or options. He can never be your permanent consumer. On the other hand, a consumer exhibiting ’habitual buying behavior’ is not looking for any options. He has developed the habit of buying your products only. So, whom to focus on? Naturally, the second type of consumers. But, do you know how to convert a consumer from ’variety seeking from buying behavior’ to ’habitual buying behavior.

Consumer buying behavior in context of Nepal
In the context of Nepal, consumer buying behavior is influenced by a blend of cultural, economic, and social factors unique to the region. The culture in Nepal plays a crucial role, with traditions, customs, and religious practices shaping consumer preferences. Economic factors, such as income levels and the availability of products, also impact purchasing decisions. In a diverse country like Nepal, where urban and rural lifestyles coexist, the buying behavior may differ significantly between these two settings.

Additionally, the influence of family and community is prominent, with social relationships and word-of-mouth playing a substantial role in decision-making. As the country continues to develop economically, there may be shifts in consumer preferences, with a growing focus on factors like convenience and technology. Understanding the specific nuances of consumer behavior in Nepal is vital for businesses aiming to thrive in this unique market.

Let us take some case studies to understand consumer buying behavior.

1. Adidas

   Adidas is well-received in Nepal, especially among the younger population. The brand’s trendy designs and association with sports make it popular. Nepalese consumers express interest through purchases, social media, and participation in events. During the course of our research, we personally went to Adidas and had a word with the V.M. manager, Sanjay Saharan. We had a set of queries for him, for which he was very much supportive and gave us his crucial time-sharing with us. He was open to us sharing their marketing strategies about how they came up with opening this business and on what basis did they think that opening such a business would bring about a good fortune to them. Later, they understood the behavior of Nepalese consumers and promoted their products accordingly.

2. Coca-cola

   Coca-Cola is often criticized for its high sugar content and potential health risks. In Nepal, as in many places, there’s a growing awareness of health concerns related to sugary beverages. Some individuals may choose to avoid Coca-Cola and similar drinks as part of a healthier lifestyle, opting for alternatives like water or natural juices. However, Coca-Cola remains popular, and individual choices vary regarding its consumption based on taste preferences and lifestyle considerations. Coca-cola is considered as the go-to-go drink in Nepal due to its availability, hype in the Nepalese market and mostly because it is cheap.

3. Apple

   Apple products, including iPhones, iPads, MacBook’s, and other devices, are available in Nepal. Authorized Apple resellers and stores carry a range of Apple products across the country. The popularity of Apple devices has been growing in Nepal, particularly among urban consumers and the younger population. However, keep in mind that the availability of specific Apple products and any changes in the market may have occurred since my last update. For the most current information, it’s recommended to check with local Apple authorized retailers or official Apple channels in Nepal. For the most up-to-date information on Apple’s performance in the Nepalese market and the current sentiments of Nepalese consumers, it is advisable to check recent sources or local market reports. Consumer preferences and market dynamics can evolve over time.

4. Samsung

   Samsung is popular in the Nepalese market due to its diverse range of reliable and affordable products. The brand’s smartphones, TVs, and other electronics have gained widespread acceptance. Samsung’s reputation for quality, innovation, and competitive pricing has contributed to its success in Nepal. The brand’s commitment to meeting various consumer needs has resonated well with Nepalese customers, making Samsung a prominent and trusted choice in the market. Due to the variety option of the mobile phone in different price option, Nepalese market was the best market for them

5. Nike

   Nike has become a favorite brand in Nepal because people love its comfortable and stylish sportswear. It’s known for quality, and many athletes endorse it. In Nepal, where interest in fitness and trendy casual wear is growing, Nike has become a top choice. The brand’s global reputation and cool marketing also make it very popular among Nepalese consumers. Nike is most popular among the youngsters due to its appealing and unique stylist designs, it’s a dream of every youngster in Nepal.

CONCLUSION
In conclusion, a deep understanding of consumer buying behavior is not just a guide; it is the compass that directs businesses toward providing value, quality assurance, and a seamless experience for their customers.