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Consumer Behavior . prepared by kar
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Consumer Behavior . prepared by kar

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  • 1. A CUSTOMER IS THE MOST IMPORTANT VISITOR ON OUR PREMISES, HE IS NOT DEPENDENT ON US, WE ARE DEPENDENT ON HIM. HE IS NOT AN INTERRUPTION ON OUR WORK, HE IS THE PURPOSE OF IT. HE IS NOT AN OUTSIDER ON OUR BUSINESS HE IS A PART OF IT. WE ARE NOT DOING HIM A FAVOUR BY SERVING HIM, HE IS DOING US A FAVOUR BY GIVING US THE OPPORTUNITY TO DO SO. MAHATMA GANDHI
  • 2. Consumer Behaviour  The term Consumer Behavior, individual buyer behavior, end user and consumer buying behavior all stands for the same.  It includes the study of what they buy, why they buy it, when they buy it, where they buy it, how often they buy it, and how often they use it.
  • 3. Consumer behaviour refers to the actions of consumers in the market place& underlying motives for those actions.  Marketers need to understand why customer buy a particular goods & services they will be able to determine-  Which products are needed in the market place,  How best to present the goods to the consumers. product  It attempts to understand the buyer decision making process, both individually and in groups. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.
  • 4. Consumer Behaviour
  • 5. Consumer Behaviour
  • 6. Consumer Behaviour
  • 7. Concept of Consumer Behavior  Consumer Behaviour is the study of the following elements: Why and why not a consumer buys product? When a consumer buys a product? How a consumer buys a product?  The people do or do not buy a product.
  • 8. Difference between Consumer and customer  Generally, a consumer refers to individuals who buy for themselves or their family (hence the term 'consumerism' in economics and politics), whereas a customer can also mean the retailer or person who buys from the manufacturer, etc. for ultimate sale to others. The one who buys the product is called a customer and the who uses the product is called a consumer.  A consumer is anyone who typically engages in any one or all of the activities mentioned in the definition. Traditionally, consumers have been defined very strictly in terms of economic goods and services wherein a monetary exchange is involved. This concept, over a period of time, has been broadened. Some scholars also include goods and services where a monetary transaction is not involved and thus the users of the services of voluntary organisations are also thought of as consumers. This means that organisations such as UNICEF, CRY, or political groups can view their public as "consumers".
  • 9. Definition  “Consumer Behavior is 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.” Belch and Belch
  • 10. Characteristics of Consumer Behavior.  Information search  Brand Loyalty  Price Elasticity of Demand.
  • 11. Scope of Consumer Behavior  ‘What’ the consumers buy: goods and services  ‘Why’ they buy it: need and want  ‘When’ do they buy it: time: day, week, month, year, occasions etc.  ‘Where’ they buy it: place  ‘How often they buy’ it: time interval  - ‘How often they use’ it: frequency of use .
  • 12. Significance of Consumer Behavior. The Study of Consumers’ Behavior is vital in framing production policies, price policies, decisions regarding channels of distribution and decisions regarding sales promotion.  Production Policies  Price Policies  Decision regarding channels of distribution  Decision regarding sales promotion  Exploiting Marketing Opportunities of competitors  Consumer do not always act or react Predictably  Consumer preference are changing and becoming highly diversified.  Rapid Introduction of New Products  Implementing the “Marketing Concepts”
  • 13. Dimensions of Consumer Behavior who buy when they buy how they buywhere they buy why they buy
  • 14. Factors affecting consumer behavior 1. Psychological factors 2. Sociological factor 3. Economic factor
  • 15. 1. Psychological Factor a) Motivation – motivation is a willing to achieve a certain goal, motivation could be effected because of consumer financial circumstances. b) Perception - what perception consumer have about a certain product c)Knowledge & Education Level - Every consumer takes decision according to their knowledge and education level so consumer behavior can change if they feel new information about a product. So knowledge and education is an important factor for consumer to buy a product or hiring services d) Attitude - consumer attitude suggest how they are motivated towards a product e)Life Style – how consumer give value of their life and what way life they spending. f) Culture – culture is an external influence, how we live and what we consume. g)Group Membership – another external influence factors , often consumer belong to many other groups which may affect consumer decision making
  • 16. 2. Sociological factor - A lot of sociological factor could affect consumer behaviour like Family life, age, education level, good and bad sociological influences. 3. Economic Factor - Economic factor is a significant factor in consumer behavior , a lot of consumer can suffer because of poor economic conditions.
  • 17.  The Internal Influences of CB  1)Psychological factors  a=> Motivation  b =>Perception  c=>Learning  d =>Beliefs and Attitude  2)Personal factors  a=>Age and Life Cycle Stage  b=>Occupation and Economic  c=>Circumstances  d =>Personality  e =>Life style  f =>Self image
  • 18. State the External Influences of CB 1. Socio-cultural Influences  culture  Sub culture  cross culture 2 Social class  Upper class  Middle class  Working class  Lower class. 3 Family 4. Reference Group 5. Roles and Status
  • 19. Applications of knowledge of consumer behavior in marketing decisions  Analyzing market opportunity  Selecting the target market  Determining the marketing mix  Product ( ex : Maggi)  Package  Price  Promotion • Use in Non-profit and Social Marketing
  • 20. Attractive packing to attract the customers
  • 21. Pricing Strategy
  • 22. Promotional activities

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