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Consumer behaviour

  1. INTRODUCTION - SCHIFFMAN & KANUK "Consumer behaviour may be defined as the behaviour that consumers display in searching for, purchasing suing, evaluating and disposing of produces, services and ideas which they expect will satisfy their needs."
  2. Characteristics Of Buyer Behaviour  Comprises both mental and physical activity of consumer.  Buyer behaviour is a integral part of human behaviour  Buyer behaviour is the process by which individuals decide whether, what, when, from whom, where and how to buy.  Buyer behaviour is very dynamic and complex  In many cases, it is the sum total of the behaviour of a number of persons  It is influenced by internal factors such as needs, habit, attitudes etc.. And external factors like family, social group, culture etc…  Consumer behaviour starts before buying and goes even after buying
  3. NEED OR IMPORTANCE OF STUDY OF CONSUMER BEHAVIOUR It is important for the marketers to understand the buyer behaviour due to the following reasons: It helps in formulating effective marketing strategy. It gives information regarding colour, design, and other features that a consumer want in his product. Thus it helps in formulating production policy. It is important for framing suitable pricing policies. Consumers demand more for quality products at reasonable prices. Marketers should first study the needs of consumers and then try to satisfy them.
  4. NEED OR IMPORTANCE OF STUDY OF CONSUMER BEHAVIOUR  Rapid technological advancement compels the marketers to study consumer behaviour.  Understanding of consumer behaviour helps avoid or minimise market failures.  For effective market segmentation and target marketing, it is essential to have an understanding of consumer and their behaviour.
  5. Types Of Consumer Buying Behaviour  Complex buying behaviour Eg: cars, homes, computers, education etc.  Dissonance reducing buying behaviour- Cognitive Dissonance Eg: Mobile phone  Variety seeking buying behaviour Eg: Soap, Detergent, tooth paste etc..  Habitual buying behaviour Eg: Salt, Matches, Oil etc..
  6. Stages Of The Consumer Buying Process
  7. Stimuli • Hunger • Thirst • A person’s normal needs Need Recognition Difference between an actual state and a desired state The Buyer Decision Process Step 1. Need Recognition External Stimuli • TV advertising • Magazine ad • Radio slogan •Stimuli in the environment
  8. •Family, friends, neighbors •Most influential source of information •Advertising, salespeople •Receives most information from these sources •Mass Media •Consumer-rating groups •Handling the product •Examining the product •Using the product Personal Sources Commercial Sources Public Sources Experiential Sources The Buyer Decision Process Step 2. Information Search
  9. Product Attributes Evaluation of Quality, Price, & Features Degree of Importance Which attributes matter most to me? Brand Beliefs What do I believe about each available brand? Total Product Satisfaction Based on what I’m looking for, how satisfied would I be with each product? Evaluation Procedures Choosing a product (and brand) based on one or more attributes. The Buyer Decision Process Step 3. Evaluation of Alternatives
  10. Purchase Intention Desire to buy the most preferred brand Purchase Decision Attitudes of others Unexpected situational factors The Buyer Decision Process Step 4. Purchase Decision
  11. Consumer’s Expectations of Product’s Performance Dissatisfied Customer Satisfied Customer! Product’s Perceived Performance Cognitive Dissonance The Buyer Decision Process Step 5. Postpurchase Behavior
  12. Model of Consumer Behavior Marketing and Other Stimuli Buyer’s Response Product Price Place Promotion Economic Technological Political Cultural Characteristics Affecting Consumer Behavior Buyer’s Decision Process Product Choice Brand Choice Dealer Choice Purchase Timing Purchase Amount
  13. Factors Affecting Consumer Behavior
  14. CULTURAL FACTORS  Culture  Sub Culture  Social Class
  15. SUB CULTURE  Religion  Geographical location  Gender (male/female)
  17. SOCIAL FACTORS  Reference Groups  Family Members  Relatives  Role in the Society  Status in the society
  18. Table showing a traditional family life cycle STAGE CHARACTERISTICS BUYING PATTERN Bachelorhood Young people not living at home Fashionable and recreation goods Newly married couples Young couples without children Fashionable and leisure articles, furnishings, utensils Full nest stage I Begins with the birth of the first child in the family Child’s clothes, food and medical expenses Full nest stage II Youngest child is at least six years old Child’s toys to bicycles and education of children Full nest stage III Teen aged or college going children Educational expenses Empty nest I stage Older married couples without any dependent children living with them Travel or home improvement Medical expenses Solitary stage Death of a life partner Special needs for attention, loving care and security.
  19. PERSONAL FACTORS  Occupation  Age  Economic Condition  Lifestyle  Personality
  20. PSYCHOLOGICAL FACTORS  Perception  Learning  Beliefs and Attitude  Motivation
  21. Two of the best - known theories of motivation are-  Abraham Maslow  Frederick Herzberg
  22. Abraham Maslow – Hierarchy of Needs Dfdsf Dfdsf
  23. HERZBERG’S THEORY Frederick Herzberg developed a two factor theory that distinguishes dissatisfiers (factors that cause dissatisfaction) from satisfiers (factors that cause satisfaction). The absence of dissatisfiers is not enough to motivate a purchase; satisfier must be present . Example- A computer that does not come with a warranty would be a dissatisfier. Yet the presence of a product warranty would not act as a satisfier or motivator of a purchase, because it is not a source of intrinsic satisfaction. Ease of use would be a satisfier.
  24. TOOLS TO STUDY COSUMER BEHAVIOUR  Surveys  Projective Techniques  Focus Group Discussions
  25. CONCLUSION As customer is the king, it is very important for every organisation to understand the needs and wants of their consumer and try to satisfy them. For this the study of consumer behaviour is very essential. Consumer Delight: when the actual product performance exceeds the buyer’s expectations, consumer will be highly satisfied . So excess of actual product performance over the expectation is called “consumer delight”. Today consumer delight has therefore become a buzz word.