Monday, January 10, 2011

Need Based Buyer V/S Impulse Based Buyer

Off late, I have been observing "buying patters" as an end consumer. Buyers can typically be categorized into two types:
(1) Need based Buyers
(2) Impulse based Buyers
Need based BuyerImpulse based Buyer
What they buy?What they need - Either for self or othersAny thing which gives them a high / makes them happy - Either for self or others. Need / utility / usefulness / already existing are words which have no meaning / relevance in their buying dictionary
Where they buy?Where they get the best deals - They do a significant amount of research before the buying processAny where
When they buy?When they get the most value for their moneyAny time
For how much they buy?For the best possible / discounted priceAny price

The Impulse based Buyer is a great end-customer. Most marketing campaigns are targeted at them. He / She is most sought after by a provider of any good and service. On the other hand, The Need based Buyer is a really tough end customer.

Off late, I seem to be surrounded by mostly Impulse based Buyers. People who seem to find unimaginable joy in buying stuff - either for themselves or others. Logic / Reason simply has no meaning in their scheme of things and the fat purse strings only support the deepest desires of their heart...

After all, it is emotion and not logic which rules the buyers world!!!

1 comment:

  1. U have really defined the buying habits of most of the people around us.True.
    Well, I come under NBB whereas my dear wife "P" is an IBB.