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CONSUMER  BEHAVIOUR

CONSUMER  BEHAVIOUR. Consumer Behavior entails in totality the consumer’s decisions involved in acquiring, consuming and disposing of goods and services as well as making use of experience and ideas. What is Consumer Behaviour?.

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CONSUMER  BEHAVIOUR

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  1. CONSUMER  BEHAVIOUR Consumer Behavior entails in totality the consumer’s decisions involved in acquiring, consuming and disposing of goods and services as well as making use of experience and ideas.

  2. What is Consumer Behaviour? • Those activities directly involved in obtaining , consuming and disposing of products and services, including the decision processes that precede and follow these actions

  3. Defining Consumer Behavior Consumer Behavior is the Process Involved When Individuals or Groups Select, Use, or Dispose of Products, Services, Ideas or Experiences (Exchange) to Satisfy Needs and Desires.

  4. Consumer Behavior The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.

  5. “MEET THE NEW CONSUMERand smile when you do because she is your boss. It may not be the person you thought you knew. Instead of choosing from what you have to offer, she tells you what she wants. You figure it out how to give it to her.”-Fortune Editor

  6. Need for understanding CB • Shorter Product Life Cycle • Evolving Consumer preference • Environmental concerns • Changing life style • Faster technology adoption

  7. Live Examples • Surf Excel – Daag AccheHai • Branded Jewellery by Tanishq • Kellogg’s • Crystal Pepsi • Bajaj auto ltd.

  8. Consumer Buying Behavior • Marketplace has become very competitive • Globalization of hospitality and travel industry • Aggressive competition • Invest in research, learn consumer trends, preferences, how they but, what they buy • The central question for marketers is: “How do consumers respond to various marketing efforts the company might use?”

  9. Model of Buyer Behavior Marketing and Other Stimuli Marketing Product Price Place Promotion Other Economic Technological Political Cultural Buyer Responses Product Choice Brand Choice Dealer choice Purchase Timing Purchase Amount Buyer’s Black Box Buyer Characteristics Buyer Decision Process

  10. A Model of Consumer Behavior • Marketing stimuli (product, price, place, promotion) • Other stimuli (economic, technological, political, cultural) • Buyer’s black box (buyer characteristics and buyer decision process) • Buyer’s responses (product choice, brand choice, dealer choice, purchase timing, purchase amount)

  11. Culture Sub-culture Social class Cultural Factors Influencing Consumer Behavior Social Reference groups Family Roles and status Personal Age and life-cycle Occupation Economic situation Lifestyle Personality and self-concept Psycho- logical Motivation Perception Learning Beliefs and attitudes Buyer

  12. Status Symbol

  13. Gender—Targeting  the  male

  14. Age—Targeting  the  youth

  15. Influence  of  Family

  16. Targeting  on  the  basis  of  Culture

  17. Psychological Factors Motivation Psychological Factors Affecting Buyers Choices Beliefs and Attitudes Perception Learning

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