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CONSUMER BUYING
BEHAVIOR
UNIT 2
CONSUMER BEHAVIOR
Consumer Behavior is the Study of
how Individuals, Groups and
Organizations Select, Buy, Use
and Dispose of Goods, Services,
Ideas or Experiences to Satisfy
Their Needs and Wants
• The behavior that consumers
display in searching for,
purchasing, using, evaluating, and
disposing of products and
services that they expect will
satisfy their needs
Characteristics of Consumer
Behavior
• The study of consumer behavior
provides us with reasons why and
how consumers differ from one
another in buying, using and
disposing of products
Factors Influencing CB
Factors Influencing CB
• Cultural Factors
– Culture
– Subculture
– Class
• Social Factors
– Reference Groups
– Family
– Role & Status
Contd…
• Personal Factors
– Age, Gender, Income & Stage in Life
Cycle
– Occupation & Economic Circumstances
– Personality & Self-Concept
– Life Style & Values
Key Psychological Processes
(Stimulus-Response Model)
Consumer
Characteristics
Cultural
Social
Personal
Consumer
Psychology
Motivation
Perception
Learning
Memory
Buying
Decision
Process
Purchase Decision
Product Choice
Brand Choice
Dealer Choice
Purchase Quantity
Purchase Timing
Payment Method
Marketing
Stimuli
Other
Stimuli
Customer’s Perceived Risks
• Functional
• Physical
• Financial
• Social
• Psychological
• Time
Types of Buying Decision
Behaviour
• Initial Purchase
– Routinised Response
Behaviour/Habitual Buying Behaviour
– Limited Problem Solving/ Dissonance
Reducing Buying Behaviour
– Extensive Problem Solving/Complex
Buying Behaviour
• Repeat Purchases
– Repeated Problem Solving
– Habitual Decision Making
• Impulse Buying
• Variety Seeking
Selective Attention
People are more likely to notice
stimuli…
• That relate to current need
• Which are unanticipated
• Deviate largely from normal
stimuli
Buying Decision Process
• Problem/Need Recognition
• Information Search
• Evaluation of Alternatives
• Purchase Decision
• Post-purchase Behavior
Information Sources
• Personal: Family, Friends etc.
• Commercial: Ads, Web-sites etc.
• Public: Survey, Rating agency
• Experiential: Handling, Examining
Buying Motives
• Personal Motives
– Role playing
– Diversion
– Self-gratification
– Learning
– Physical activity
– Sensory stimulation
• Social Motives
– Social interaction
– Peer affiliation
– Status & authority
– Pleasure of bargaining
Buying Behaviour Models
• Traditional Models
– Economic/ Marshallian Model (Consumer's
buying pattern is based on the idea of getting
the most benefits while minimizing costs)
– Learning Model (Consumer behavior is
governed by the need to satisfy basic and
learned need)
– Psychoanalytic/ Freudian Model (Consumer
behavior is influenced by both conscious and
subconscious mind)
– Sociological/ Veblenian Model (Consumer's
buying pattern is based on his role and influence
in the society)
• Contemporary Models
– Howard-Sheth Model (Stimulus-
response model based on input variables,
output variables, hypothetical constructs-
perceptual and learning, exogenous
variables)
– Engel-Kollat-Blackwell Model
(Conscious problem solving and learning
model of consumer behavior-five activities)
– Nicosia Model (Explains buyer behavior by
establishing a link between the organization
and its (prospective) consumer)
– Stimulus-Response (Black Box) Model

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MM 1 Unit 2 MBA.ppt

  • 2. CONSUMER BEHAVIOR Consumer Behavior is the Study of how Individuals, Groups and Organizations Select, Buy, Use and Dispose of Goods, Services, Ideas or Experiences to Satisfy Their Needs and Wants
  • 3. • The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs
  • 4. Characteristics of Consumer Behavior • The study of consumer behavior provides us with reasons why and how consumers differ from one another in buying, using and disposing of products
  • 6. Factors Influencing CB • Cultural Factors – Culture – Subculture – Class • Social Factors – Reference Groups – Family – Role & Status
  • 7. Contd… • Personal Factors – Age, Gender, Income & Stage in Life Cycle – Occupation & Economic Circumstances – Personality & Self-Concept – Life Style & Values
  • 8. Key Psychological Processes (Stimulus-Response Model) Consumer Characteristics Cultural Social Personal Consumer Psychology Motivation Perception Learning Memory Buying Decision Process Purchase Decision Product Choice Brand Choice Dealer Choice Purchase Quantity Purchase Timing Payment Method Marketing Stimuli Other Stimuli
  • 9. Customer’s Perceived Risks • Functional • Physical • Financial • Social • Psychological • Time
  • 10. Types of Buying Decision Behaviour • Initial Purchase – Routinised Response Behaviour/Habitual Buying Behaviour – Limited Problem Solving/ Dissonance Reducing Buying Behaviour – Extensive Problem Solving/Complex Buying Behaviour
  • 11. • Repeat Purchases – Repeated Problem Solving – Habitual Decision Making • Impulse Buying • Variety Seeking
  • 12. Selective Attention People are more likely to notice stimuli… • That relate to current need • Which are unanticipated • Deviate largely from normal stimuli
  • 13. Buying Decision Process • Problem/Need Recognition • Information Search • Evaluation of Alternatives • Purchase Decision • Post-purchase Behavior
  • 14. Information Sources • Personal: Family, Friends etc. • Commercial: Ads, Web-sites etc. • Public: Survey, Rating agency • Experiential: Handling, Examining
  • 15. Buying Motives • Personal Motives – Role playing – Diversion – Self-gratification – Learning – Physical activity – Sensory stimulation
  • 16. • Social Motives – Social interaction – Peer affiliation – Status & authority – Pleasure of bargaining
  • 17. Buying Behaviour Models • Traditional Models – Economic/ Marshallian Model (Consumer's buying pattern is based on the idea of getting the most benefits while minimizing costs) – Learning Model (Consumer behavior is governed by the need to satisfy basic and learned need) – Psychoanalytic/ Freudian Model (Consumer behavior is influenced by both conscious and subconscious mind) – Sociological/ Veblenian Model (Consumer's buying pattern is based on his role and influence in the society)
  • 18. • Contemporary Models – Howard-Sheth Model (Stimulus- response model based on input variables, output variables, hypothetical constructs- perceptual and learning, exogenous variables) – Engel-Kollat-Blackwell Model (Conscious problem solving and learning model of consumer behavior-five activities)
  • 19. – Nicosia Model (Explains buyer behavior by establishing a link between the organization and its (prospective) consumer) – Stimulus-Response (Black Box) Model