Different types of Buying by Consumers

Kinds of Consumer Buying

Following is a basic description of the numerous customer purchasing types recognized by marketing specialists:

Kinds of Buying

1. Hand-to-mouth buying

It alludes to purchasing in little quantities. This is how the majority of families purchase their daily supply of vegetables.

2. Speculative buying

Businessmen stock up on certain goods in anticipation of a rise in price in the hopes of selling them for a higher price. Such purchases, also referred to as speculative or forward purchases, are typical in the stock market. According to the “Sale of Goods Act,” “shares” are goods.

3. Buying by inspection

We have the right to inspect the goods we purchase as consumers. But occasionally, the buyer might not be able to exercise such a right because the seller is in another location (as in the case of imported goods) or because the seller may not agree to such an examination (when certain second hand goods are auctioned).

4. Buying by samples

It is common for customers to request samples of particular products before making a purchase. For instance, we frequently request samples when purchasing savory or sweet foods. In some circumstances, it is necessary to examine how closely the sample adheres to the bulk.

5. Buying by description

Furniture manufacturers typically offer catalogs with various models so that their customers can select what they want. They also create furniture in accordance with the descriptions and requirements provided by their customers.

6. Contract buying

In order to ensure a steady supply of raw materials, manufacturers frequently sign long-term agreements with their suppliers. For a relatively longer period of time, the suppliers offer a specific quantity of these materials at a specific price.

7. Scheduled buying

Two business units engage in this type of purchasing where the output of one serves as the input for the other. For instance, a paper manufacturer and a notebook manufacturer may have an agreement whereby the former will supply the latter with a specific amount of paper on a regular basis. They assist one another through this routine.

8. Period buying

This is a reference to the routine of buying frequently. For instance, the majority of us shop for the kitchen supplies at the beginning of each month. We typically place our orders in person or over the phone at a particular supply store. A well-known department store called “Subhiksha” has also introduced “Internet Shopping.”

9. Buying by requirement / need

During a specific season, certain goods are particularly in demand. They are referred to as seasonal goods. Examples: During Diwali, Indians demand crackers. During Pongal, there is a greater demand for sugarcane. At the start of the academic year, books and notebooks are in high demand. During the rainy season, there is a greater demand for umbrellas and raincoats.

10. Open market buying

It describes the practice of purchasing particular goods primarily because their prices have dropped rather than out of necessity. When it comes to jewelry, this is done.

11. Reciprocal buying

Reciprocal buying is when two business units mutually decide to purchase from one another. For instance, a paper mill and a stationery store may have an agreement whereby the former will provide the paper needed by the latter and the latter will provide the stationery items required by the former.

12. Concentrated buying

It describes a circumstance in which products can only be bought from a specific vendor. This occurs as a result of the supply being restricted to a specific area. For instance, the majority of Indian publishers of college textbooks are based in Delhi.

13.. Scattered buying

It completely contrasts concentrated buying. In this instance, purchasing is done from any convenient and profitable source.