This document discusses key concepts in consumer behavior including factors that influence consumer decision making like culture, psychology, and marketing. It notes that understanding consumer behavior is important for businesses because many new products fail due to not meeting consumer needs and preferences which are shaped by various internal and external stimuli. The consumer decision process involves problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

1. Consumer Behaviour

3. Why do we need to study Consumer Behaviour? Because no longer can we take the customer/consumer for granted.

5. All managers must become astute analysts of consumer motivation and behaviour

6. Can Marketing be standardised? No. Because cross - cultural styles, habits, tastes, prevents such standardisation.

7. Unless Managements act The more successful a firm has been in the past, the more likely is it to fail in the future.

8. Why? Because people tend to repeat behaviour for which they have been rewarded.

10. Buyer Behaviour Consumer 4Ps Marketing Environment Buyer Characteristics Buyer Decision Process Buyer Decision

11. Marketing Stimuli 4 Ps Product Price Place Promotion

12. Other Stimuli Marketing Environment Economic Technological Political Cultural