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Consumer behavior defined ravs!

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Consumer behavior defined ravs!

  1. 1. CONSUMER BEHAVIOR: THE PSYCHOLOGY OF MARKETING Ravneet Bhangu
  2. 2. Definition AMA says……………… “Consumer Behavior is the dynamic interaction of affect and cognition, behavior, and the environment by which human being conducts the exchange aspects of their lives” Made by: Ravneet Bhangu
  3. 3. Simply put ………… Consumer behaviour is the study of when, why, how, and where people do or do not buy product. Made by: Ravneet Bhangu
  4. 4. Why to study this? • The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers); • The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); • The behavior of consumers while shopping or making other marketing decisions; • Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; • How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and • How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer. Made by: Ravneet Bhangu
  5. 5. Consumer Vs Customer Consumer Customer One that consumes, One that buys goods or especially one that services. acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. Made by: Ravneet Bhangu
  6. 6. Few Consumer Behavior Roles Initiator User Gatekeeper Consumer Buyer Influencer Decider Made by: Ravneet Bhangu
  7. 7. Disciplines Involved in CB Psychology Sociology Social Psychology Cultural Anthropology Economics …………………………many more! Made by: Ravneet Bhangu
  8. 8. Applications: • Marketing Strategy • Public Policy • Social Marketing • Customer Service Made by: Ravneet Bhangu
  9. 9. Made by: Ravneet Bhangu
  10. 10. THANK YOU!! Made by: Ravneet Bhangu

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