CHANGE IN CONSUMER BEHAVIOUR.pptx
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Consumer Behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use & disposal of goods & services & how the consumer’s emotions, attitudes & preferences affect buying behavior.
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CHANGE IN CONSUMER BEHAVIOUR.pptx
- 2. CONSUMER BEHAVIOR Consumer Behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use & disposal of goods & services & how the consumer’s emotions, attitudes & preferences affect buying behavior. 02
- 3. 2.5 0.1 0 0 1.5 1.5 4.5 4.5 4 3.6 3.5 3.5 3 5.4 6 6.4 5 5 LANDLINE MUSIC SYSTEM COLOR TV WASHING MACHINE REFRIGERATOR COMPUTER OR LAPTOP Durable Goods Purchases (% of Indians who own or use) 1980 2000 2020 How has Change occur In Consumer Behaviour? 3 1.3 1.5 1.8 3.7 3.5 3.2 5 5 5 CHILDERN'S EDUCATION ELECTRONICS & DURABLES TRAVEL & ENTERTAINMENT Saving Goals (% of Indians who identified these as among their goals) 1980 2000 2020
- 4. WHAT CUSTOMERS EXPECT? 4 Want to speak with a expertise on the phone for difficult inquiries. Are satisfied with clear information posted to company website for simple inquires Want easy access to customer services Want access to faster customer services. Feel it is extremely important that customer service agents know their customers history based on previous interactions.
- 5. CONSUMER CHANGE Traditional approach Modern approach UTILITARIAN (BASIC NEEDS) HEDONIC (EMOTIONAL NEEEDS) SYMBOLIC (SOCIAL NEEDS) 05 ▲How Customers Expectation were evolved? • PERSONALISATION • SIMPLICITY • ANYTIME & ANYWHERE • PERFORMANCE • NEW FUNCTIONALITIES ▼Understanding Customer Requirements/Need s ▲How has consumer expectation change in over time?
- 7. Where did people go for shopping? 7 25% 25% 33% 17% SUPERMARKET TRADITIONAL MARKET ONLINE SHOPPING MALL AGE MODERN WAY TRADITIONAL WAY 15-25 ONLINE SHOPPING SUPERMARKET/MALL 25-35 MALL TRADTIONAL MARKET 45-55 TRADITIONAL/SUPER -MARKET TRADITIONAL MARKET
- 8. WHY DID THEY PURCHASE FROM HERE? 8 56% 26% 18% Convenient Place More Discount Good Environment AGE MODERN WAY TRADITIONAL WAY 15-25 DISCOUNT CONVENIENT PLACE 25-35 GOOD ENVIRONMENT MORE DISCOUNT 45-55 CONVENIENT PLACE MORE DISCOUNT
- 9. HOW DO THEY GET INFORMATION ABOUT THE PRODUCT/BRAND? 9 AGE MODERN WAY TRADITIONAL WAY 15-25 SOCIAL MEDIA PLATFORM ADVERTISEMENT 25-35 WORD OF MOUTH FAMILY/ADVERTISEM NT 45-55 ADVERTISEMENT/ FAMILY INFLUENCE/RADIO/ ADVERTISEMENT 34% 33% 33% SOCIAL MEDIA PLATFORM WORD OF MOUTH ADVERTISEMENT
- 10. What are you expecting while purchasing the product? 10 AGE MODERN WAY TRADITIONAL WAY 15-25 QUALITY QUALITY 25-35 QUALITY QUALITY 45-55 QUALITY QUALITY 34% 33% 33% QUALITY QAULITY QAULITY
- 11. Are they brand loyal? 11 34% 33% 33% YES YES NO AGE MODERN WAY TRADITIONAL WAY 15-25 YES NO 25-35 YES NO 45-55 NO NO
- 12. Mode Of Payment? 12 34% 33% 33% ONLINE CASH/DEBIT CASH AGE MODERN WAY TRADITIONAL WAY 15-25 ONLINE CASH 25-35 CASH/DEBIT CASH 45-55 CASH CASH/CREDIT
- 13. CONCLUSION According to my survey consumer cannot drop all traditional media as well as they could not avoid the social media. In the matter of fact, basic reasons are change in consumer behavior: a) LIFESTYLE b) INCREASE IN STANDARD OF LIVING c) TECHNOLOGY d) INFLATION RATE e) MONEY SUPPLY IN THE ECONOMY 13
- 14. THANK YOU!