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Consumer Markets and

Buyer Behavior

The field ofConsumer Behavior:

studies how individuals, groups, andorganizations select, buy, use, and

dispose of goods, services, ideas, or

experiences to satisfy their needs and

desires.

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How and Why

Consumers Buy

Buying behavior is influenced by: Cultural factors

Social factors

Personal factors

Psychological factors

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Cultural factors:

Values, perceptions, preferences etc.

Determines persons want and

behavior Subculture

Caste based social classes - Relativelyhomogeneous, hierarchically ordered, sharesimilar value interests and behavior.

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Social Factors:

Reference groups have direct or indirectinfluence on persons attitude or behavior.

Types of Reference Group: Membership

Aspirational

Disclaimant

Avoidance

Family Each stage of Life-cycle createsdemand for different product.

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Personal Factors:

Age Stage in life cycle Occupation Economic circumstances Lifestyle way of leading life Personality Distinguishing psychological

characteristics that lead to consistent responsesto environment.

Self-concept

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Psychological Factors:

Motivation Need that is sufficiently pressing todrive the person to act.

Perception Process by which an individual selects,

organizes and interprets information inputs to createmeaningful picture of the world.

Learning Involves changing in an individualsbehavior arising from experience.

Beliefs Descriptive thought that a person holdsabout something.

Attitudes Set of feelings that make a person reactto a given idea.

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Buying roles

Roles that a person plays in buying or using aproduct.

Initiator Influencer Decider Buyer User Maintainer Disposer

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Types of Buying-Decision

Behavior

DifferenceDifference

betweenbetween

brandsbrands

SignificantSignificant

DifferencesDifferences

ComplexComplex

buyingbuying

behaviorbehavior

LowLow

FewFew

DifferencesDifferences

Dissonance-Dissonance-

reducingreducing

buyingbuying

behaviorbehavior

HabitualHabitual

buyingbuying

behaviorbehavior

Variety-Variety-

seekingseeking

buyingbuyingbehaviorbehavior

HighHighInvolvement LevelInvolvement Level

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How buying behavior is

understood by the Marketers?

Introspective Method: How buyers will

themselves act?

Retrospective Method: Ask purchasers torecall the purchase event

Prospective Method: How is a consumer

planning to buy a particular product? Prescriptive Method: Consumers describe

an ideal way to purchase the product

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