Who are your customers and what makes them buy? To get to the answer we need to take a closer look at consumer buying behaviour.

What is consumer buying behaviour?

Consumer buying behaviour takes into account a consumer's attitudes, preferences, intentions, and decisions in the marketplace when purchasing a product or service.

The standard model of consumer behaviour consists of a methodical and structured process. Let's take a brief look at each step.

Problem/ Need recognition
  
The first step is problem recognition. During this step, the consumer (let’s call her Betsie) realises that she has an unfulfilled need or want. She has just been informed by Mike the mechanic that fixing her car will cost more than it's worth. Betsie now realises that she has a transportation problem and wants to fulfill that need with the purchase of a car.

Information search

The next step is to gather information relevant to what you need to solve the problem.

In our example, Betsie may engage in research on the Internet to determine the types of vehicles available and their respective features.

A recent study revealed that car buyers spend about 59% of their time online during this process. The study also found that on average about 15 hours are spent on this process.

This time is divided as follows: 59 percent online; two percent print; 15 percent visiting other dealerships; three percent talking to others and a mere 21 percent with the dealership where the vehicle was eventually purchased. 

Evaluation

After the information is gathered, it is evaluated against the consumer's needs, wants, preferences, and financial resources available for purchase. In our example, Betsie has decided to narrow her choices down to three cars based upon price, comfort, and fuel efficiency.

Purchase

At this stage, Betsie will make a purchasing decision. The ultimate decision may be based on factors such as price or availability. For example, Betsie has decided to purchase a particular model of car because its price was the best she could negotiate and the car was available immediately.

Post-purchase evaluation

At this stage Betsie will decide whether the purchase actually satisfies her needs and wants. Is she happy with her purchase? If not, why not?


We share the best used car sellers for July

The top 5 used passenger vehicle sales per manufacturer

FORD
VOLKSWAGEN
TOYOTA
BMW
NISSAN

The top three used commercial vehicle sales per manufacturer

RANGER 2.2TDCI XL P/U D/C
RANGER 2.2TDCI XL P/U SUP/CAB
NP200 1.6 P/U S/C

Top 10 derivatives sales

RANGER 2.2TDCI XL P/U D/C
FIGO 1.4 AMBIENTE
FIESTA 1.4 AMBIENTE 5 DR
POLO VIVO 1.4 5DR
POLO 1.4 COMFORTLINE 5DR
RANGER 2.2TDCI XL P/U SUP/CAB
POLO VIVO GP 1.4 TRENDLINE 5DR
POLO VIVO 1.4 TRENDLINE 5DR
POLO 1.6 COMFORTLINE 5DR
RANGER 2.2TDCI XL P/U D/C
POLO GP 1.2 TSI TRENDLINE (66KW)

The average age of vehicles sold in July was 3.83 years.