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BUS 2201 Discussion Forum Unit 3

The document discusses how the Big Five personality traits (openness, conscientiousness, extraversion, agreeableness, and neuroticism) relate to purchasing behaviors. Open individuals are more likely to purchase new products and services like technology or entertainment. Conscientious people carefully select purchases that are worthwhile and practical. Extraverted people favor branded luxury goods that others will see, while introverts prefer low-key items. Agreeable people are easily influenced to buy things their peers purchase. Highly neurotic individuals tend to be negative about sales and unlikely to buy expensive goods or services.

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132 views2 pages

BUS 2201 Discussion Forum Unit 3

The document discusses how the Big Five personality traits (openness, conscientiousness, extraversion, agreeableness, and neuroticism) relate to purchasing behaviors. Open individuals are more likely to purchase new products and services like technology or entertainment. Conscientious people carefully select purchases that are worthwhile and practical. Extraverted people favor branded luxury goods that others will see, while introverts prefer low-key items. Agreeable people are easily influenced to buy things their peers purchase. Highly neurotic individuals tend to be negative about sales and unlikely to buy expensive goods or services.

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Cherry Htun
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The term "personality" relates to how other people interpret a person's behavior.

The "Big Five"


personality qualities, according to psychologists, are neuroticism, agreeableness, extraversion,
conscientiousness, and openness (Tanner et al., 2016). When it comes to purchasing behavior, each of
the five personality types would correspond to a specific product or service.

Openness is the degree to which people are receptive to new ideas or experiences. If someone exhibits
this quality to a high level, they will be intellectually curious and open to new experiences. Additionally,
they are unconventional and innovative. A person with a low score on this feature, on the other hand, is
typically resistant to change, conservative, and has trouble with abstract cognition. Newly released
versions of products will be appealing to this group. For instance, they are the first to buy new
technological devices. Additionally, as a form of service, they watch horror films to satiate their
insatiable hunger for adventure, and they are most likely customers of the numerous businesses selling
the aforementioned goods. Those with weaker openness traits have a tendency to keep to things they
already own, such as cooking supplies, gardening tools, and apparel.

Conscientious people find it challenging to acquire products or services because they want to be sure
that whatever they spend their money on is worthwhile. They consider the consequences of their
choices and do not want to take on the burden of responsibility. Such people would purchase products
like commercial vehicles, health care, food, and services like insurance or funeral plans. They are very
particular about what their monetary value is, and whatever purchase they make needs to correspond
to their desired value.

Extraversion is the degree to which a person is sociable and enthusiastic. People with high extroversion
purchase branded luxury goods that are popular with the public such as sportswear, perfume, and
services like recreation. As a result of their anxiety over being judged, shy people are less likely to
purchase items that can be used in public. They would purchase items like food and services as a
guarantee for the items they purchase, as well as items that do not come to the public attention. Paying
for the insurance of the items would fill up the financial gap if the things were to become lost since they
do not want to lose what they bought so readily.

As a personality attribute, agreeableness describes people who are susceptible to being persuaded to
purchase goods or services that they may not even need. These individuals are frequently observed in
circumstances where they even purchase tickets for every sporting event that they see promoted since
their acquaintances will be going. They purchase any kind of food or product because their peers will do
the same.

An individual's level of serenity and tranquility is referred to as neuroticism. People with high
neuroticism are more prone to express negative opinions about sales, brands, or products. They
supposedly wouldn't purchase upscale goods or services.

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