The buying habits of potential customers keep on varying. It therefore, becomes hard for the large firms to predict or forecast the buying habits of the customers. The buying ability of the customers keeps on changing due to the change in the external factors like the change in taste and preferences. The consumer behavior towards a certain product change with time and, this is mostly affected by the external influences such as the introduction of other related product in the market. The customers tend to shift to the purchase of the new product.
It may be wrong to forecast the customers’’ buying habits due to some of the unforeseen changes in the external influences. This is because there may a change in the customers’ taste and preferences (Thumann, 2001). The fall in taste of a certain product may influence the fall in the purchase of a certain product. It would therefore, result in wrong predictions of the purchasing of a certain product. In our case the customers may change the taste for the building materials being produced in the firm and purchase another brand of building materials (Schur, 2009).
The purchasing power of the customers keeps on changing due to the fall or rise in the income of the customers. In times of unemployment the customer’s ability to purchase goods may fall and this will result to the decrease in goods being bought. This makes it hard to predict the behavior of the customers towards the purchase of a product. There may be an introduction of another product in the market which will lead to the change in the buying of the already existing product. Customers will shift to the buying of the newly introduced product hence making it hard to predict the purchase trends by the customers (Berenson, 2004).
The predictions made regarding purchases made by the customers can be made more accurate by the study of the trends in the economy. Relying on the purchase records in the firm may not guarantee an accurate prediction on the purchasing of goods by the customers. The study of the change in taste and preference of the customers is also important in predicting the purchase levels of the customers.