Question

For this assignment, describe 5 reasons which contribute to mpulse buying. Additionally, based on the Tips for Impulse Spending, describe which of those tips you could use to guide you.

Answer 1

Answer : Impulse buying means that sudden buying of good without planning in advance. The reason for impulse buying are :

• Enjoyment in shopping means that feeling pleasure in purchasing tge goods or services . The customer for leisure and enjoying make shopping occurs.
• Loss aversion means that marketer used the strategy Buy 2 get 1 free or limited period offer. It means that to attract the customer and spending more time.
• Sometime there are spotted bargaining . It means heavy discount resulted in impulse buying of goods and services.
• Stockpile means that collection of things that we need by the person.
• Optimistic nature of the person resulted in impulse buying of goods.

Tips for impulse spending are :

• Prepare a budget of your spending and stick upon it.
• Wait overnight and think about your purchase properly.
• Spend your money with proper planning.
• Don't shop when you are emotional.
• Bring someone with you while you are spending large amount on purchasing goods and services.
• Stop making comparison
• Purchase that thing which you really need . Don't pile up stock in your house.