consumer behavior
TRANSCRIPT
CHAKRESH JAIN
Consumer Behaviour
INTRODUCTION OF CONSUMER BEHAVIOR
The aim of marketing is to meet and satisfy target customers’ needs and wants better than competitors. “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”.
Gaining a thorough in-depth consumer understanding helps to make sure that the right products are marketed to the right consumers in the right way. WHAT INFLUENCES CONSUMER BEHAVIOR?
Model of Buying Behavior
Buyer’s decisionprocess
Problem recognitionInformation searchEvaluationDecisionPost purchase behavior
Other stimuli
EconomicTechnology
Buyer’scharacteristics
CulturalSocialPersonalPsychological
Buyer’s decisions
Product choiceBrand choiceDealer choicePurchase timingPurchase amount
Marketingstimuli
ProductPricePlacePromotion
Characteristics Affecting Consumer Behavior
CULTURAL
SOCIALPERSONAL
PSYCHOLOGICAL
CultureSubcultureSocial Class
Reference GroupsFamilyRoles & Status
AgeOccupationEconomic SituationLifestylePersonality
MotivationPerceptionLearningBeliefs & Attitude
Culture
Cultural Factors
SubcultureSocial Class
Buyer
CultureCulture is the basic values, perceptions, wants &
behaviors learned by a member of society from family &other important institutions . E.g. An American bride wears a white dress on her wedding while a white dress is worn on occasion of mourning in India.
Subculture : A group of people with shared value systems based on common life experiences & situations. Subcultures include nationalities, religions, racial groups &geographic regions. E.g. Punjabi, Bengali, Marathi.
Social Class: Relatively permanent &ordered divisions in a society whose members share similar values, interests & behavior. Determined by income, occupation, education, wealth & other variables. Social classes show distinct product & brand preferences in areas such as clothing, home furnishing, leisure activities & automobiles. E.g. upper Class, Middle class
Social Factors
ReferenceGroups
Roles &StatusesFamily
WHAT INFLUENCES CONSUMER BEHAVIOR ?
Social Factors In addition to cultural factors, a consumer’s behavior is influenced by such social factors as reference groups, family, and social roles and statuses.
A person’s reference groups consists of all the groups that have a direct (face-to-face) or indirect influence on his/her attitudes or behavior.
Groups having a direct influence on a person are called membership groups.
Some memberships groups are primary groups such as family, friends, neighbors, and co-workers with whom the person interacts fairly continuously and informally.
Some membership groups are secondary groups such as religious, professional groups that tend to be more formal.
Influences on Consumer Behavior
Personal Influences
Age and Family Life Cycle Stage Lifestyle
Occupation &Economic Circumstances
Personality & Self-Concept
PERSONAL FACTORS
Age & Life Cycle Stage: tastes in food, clothing, furniture & recreation are age related. Buying is also shaped by stage of the family life cycle. E.g. Gen Y ( under 25), Young Professionals, (25 to 34), Families (35 to 54).
Psychological Factors
Perception Learning
Beliefs &Attitudes
Motivation
Consumer Buying Process
ProblemProblemrecognitionrecognition
Informationsearch
Evaluation ofalternatives
Purchasedecision
Post purchasebehavior
Purchase product