ch 2,consumer behavior

8/9/2019 Ch 2,Consumer Behavior

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CONSUMER BEHAVIORCONSUMER BEHAVIOR


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Who is a

Consumer/Customer

Person who

purchases thegoods/service is

customer

whereas the endusers who

consumes the

good/service is

consumer.


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Individual, Personal Consumer

Organizational/Business/Industrial

Consumer

E.g : Furniture Purchase by the office-

Industrial Consumer

E. g : Furniture Purchased for

Self/family- Personal Consumer

Types of Consumers


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E g. If you buy a chocolate for

your son you are customer andyour son is consumer.

These terms are used

Interchangeably


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CONSUMER MARKET

All the individuals and

households who buy oracquire goods and

services for personalconsumption


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Behavior The manner in which one behaves.

The actions or reactions of a person in

response to external or internal stimuli.


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.

Consumer Behaviour

Study of how individuals ,groups and

organisations select ,buy ,use and dispose of

goods, services ,ideas or experiences to satisfy

their needs and wants


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Belch and Belch define consumer behavior as 'the

process and activities people engage in when

searching for, selecting, purchasing, using,evaluating, and disposing of products and services

so as to satisfy their needs and desires'.'


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It includes the

study of: What they buy?

Why they buy?

When they buy?

Where they buy?

How often they buyit?

How often they useit?


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Significance Of study of CB

1) To fulfill customer needs and wants profitablyi.e implementing marketing concept

2) Consumers do not always act and react as the

theory suggests

3) Consumer preferences are changing and

becoming highly diversified


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4)Consumer prefer differentiated products to4)Consumer prefer differentiated products to

reflect their special needs,personalities andreflect their special needs,personalities and

lifestyles.lifestyles. 5)Meeting special needs of customers requires5)Meeting special needs of customers requires

market segmentation which requiresmarket segmentation which requires

understanding CBunderstanding CB


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6)To cope up with rapidly changing technology

leading to a change in customers needs and wants

7)To generate demand for efficient though not soeasily sale able products


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Factors Influencing Buyer Behaviour/CB

Cultural

Social

Personal


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Culture

Subculture

Cultural factors


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Personality andself concept

Life style

Occupation and

economiccircumstances

Age and life style

Personal factors


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motivation

perception

Learning , eliefs andattitudes

P

sychological factors


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Motivation

The wayurges,drives,desires,aspirations,strivings or needs direct,control

or explain the behavior ofhuman beings


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Maslows

Hierarchy ofNeeds


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Perception

Perception is a process by which we becomeaware of changes through the senses of

sight,hearing,smell,touch and taste


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Learning

Learning is the process by which the knowledgeand experience acquired from the

purchase,consumption,use is applied to future

behavior


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BELIEFS ANDATTITUDE

Belief is a descriptive thought that an individualconsumer has about product,service,idea or practice

Attitude is pre-disposed behavior, is consistent.


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The Buying Decision Process: The

FiveS

tageM

odel

Need Recognition

Evaluation of

Alternatives

Information Search

Purchase DecisionPost Purchase

Behavior


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Need Recognition

The first stage of the buyerdecision process,in which the

consumer recognizes a problem or

need.


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Information SearchThe stage of the buyer decision processin which the consumer is aroused to search

for more information .

Information Can be collected from:

Personal Sources

Commercial Sources

Public Sources

Experiential Sources


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Evaluation of Alternatives

In this stage the consumer

uses information to evaluatealternative brands in choice

set.


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Purchase DecisionIn evaluation Stage customers ranks

brands and formulates purchase intention

and purchases the product accordingly.But purchase intention does not always

gets converted into purchase decision.

Reasons can be:Others attitude

Unexpected situational factors


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Post Purchase Behaviour

The stage in which consumers

take further action after

purchase,based on their

satisfaction/dissatisfaction.

It is a relationship betweenexpected and actualperformance.


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Generally allpurchases leads to

some or anotherCognitive Dissonance i.e

Buyer discomfort caused bypostpurchase conflict.


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ch 2,consumer behavior

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