itft- consumer behavior
DESCRIPTION
Consumer behavior, consumer buying process, problem recognition, information search, evaluation of alternatives, purchaseTRANSCRIPT
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Consumer Buying Behavior
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Outline• Definition
• Need to analyze behavior
• Types
• Influencing factors
• Consumer buying process
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Buying Behavior• Definition :
The decision process and acts of people involved in buying and using products.
• How does the buyer make purchasing decision?
• What factors influence consumer purchases?
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Need To Analyze Buying Behavior
• What, Where, When & How – Marketing Mix.
• Helps predict how consumers will respond to
marketing strategies.
• Great impact on the success of firms marketing
strategy.
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Types Of Consumer Buying Behavior• Routine Response/Programmed Behavior
• Limited Decision Making
• Extensive Decision Making
• Impulse Buying
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Routine Response / Programmed Behavior• Frequently purchased low cost items.
• Low involvement required.
• Little search and decision effort
• Purchased almost automatically.
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Examples- Routine Response
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Limited Decision Making• Occasional buying.
• When information is needed for a unfamiliar brand in a familiar product category.
• Requires a moderate amount of time for information gathering.
• Loyalty to a brand
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Examples- Limited Decision
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Extensive Decision Making
• Complex process- requires high involvement
• unfamiliar, expensive, infrequently bought products.
• High degree of economic/performance/psychological risk.
• Lot of time spent seeking information and deciding.
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Examples- Extensive Decision
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Impulse Buying• Basis - purchase of the same product does not always elicit the
same Buying Behavior.
• Reason determines the extent of decision-making.
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Examples- Impulse Buying
THIS or THIS ??
going for the dinner- reason can be an anniversary celebration, or a meal with a couple of friends.
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Influencing Factors:
The marketer must be aware of these factors in order to develop a appropriate marketing mix for its target market.
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Thank you