7/27/2019 Consumer Behaviour 1.docx

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Consumer Behaviour and Customer Loyalty

Ques 1- What is Culture ?

Ans- Culture refers to the cumulative deposit of knowledge, experience, beliefs, values, attitudes, meanings,hierarchies, religion, notions of time, roles, spatial relations, concepts of the universe, and material objects

and possessions acquired by a group of people in the course of generations through individual and groupstriving. It consists of patterns, explicit and implicit, of and for behavior acquired and transmitted bysymbols, constituting the distinctive achievement of human groups, including their embodiments in artifacts;the essential core of culture consists of traditional ideas and especially their attached values; culture systemsmay, on the one hand, be considered as products of action, on the other hand, as conditioning influences uponfurther action.

Ques 2-Concept of Consumer and Customer.

Ans- A customer is someone who buys services or goods from someone else while a consumer is someone thatconsumes a certain product or commodity. In the concept of Economics, a consumer can either be a singleperson or an entire organization, that uses a certain type of service. Consumers can also be any form of

organism, that devours or eats something, as in the field of Science and Ecology. A consumer is someone whoactually consumes the goods and not just purchases it.A costumer is someone who buys the goods for morecommercial purposes.According to the 1986 Consumer Protections Act of India, a consumer can also besomebody who uses goods and services for a living. In addition, the mere intent of buying goods makes you aconsumer, nonetheless.

Long Answer Type-

Ques 1- What do you mean by Consumer Behaviour ?

Ans- Consumers make many buying decisions every day. Most companies are interested to know whatconsumers buy, where they buy, how and how much they buy, when they buy, and why they buy. But

learning about the consumer buying behavior is not easy task The central question for marketers is howconsumers respond to various marketing stimuli The company that understands how consumers will respondto different product features, prices, and advertising appeals has a great advantage over its competitors. Thestarting point is the stimulus-response model of buyer behavior This figure shows that marketing and otherstimuli enter the consumers black box and produce certain responses.Marketing stimuli consist of the fourPs: product, price, place, and promotion. Other stimuli include major forces and events in the buyersenvironment: econo mic, technological, political, and cultural. All these inputs enter the buyers black box,where they are turned into a set of observable buyer responses: product choice, brand choice, dealer choice,purchase timing, and purchase amount. The marketer wants to understand how the stimuli are changed intoresponses inside the consumers black box, which has two parts. First, the buyers characteristics influencehow he or she perceives and reacts to the stimuli. Second, the buyers decision process itself affe cts thebuyers behaviour.

Consumer behaviour is the study of how individuals, groups and organizations select, buy and dispose ofgoods, services, ideas or experiences to satisfy their needs and wants. Kotler 1994