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Chapter3

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Chapter3

  1. 1. <ul><li>Chapter 3 </li></ul><ul><li>Analyzing consumer markets & buying Behavior </li></ul><ul><li>-Consumer is all about the study of actions of consumers in the market place & the underlying motives of those actions </li></ul><ul><li>-All the behavior of human beings during the purchase may be termed as “Buyer Behavior’’ </li></ul>
  2. 2. <ul><li>Needs </li></ul><ul><li>Consumers preferences are changing & becoming highly diversified </li></ul><ul><li>Consumers prefer differentiated products </li></ul><ul><li>  </li></ul><ul><li>meeting special requirements of the customers based on the market segmentation </li></ul><ul><li>Rapid industrialization of new products with technological advancement has made the job of studying consumer behviour more imperative </li></ul><ul><li>  </li></ul><ul><li>Implementation of marketing concept calls for studying the consumer behaviour </li></ul>
  3. 3. <ul><li>Factors influencing consumer Behavior </li></ul><ul><ul><li>Cultural factors </li></ul></ul><ul><ul><ul><li>Culture </li></ul></ul></ul><ul><li>-A child growing up in a society learns a basic set of values, perceptions, preferences & behaviours through a process of socialization </li></ul><ul><li>  </li></ul><ul><li>- A child growing up in an agricultural family learns what is the time for sowing, harvesting, and marketing </li></ul>
  4. 4. <ul><ul><ul><li>Subculture </li></ul></ul></ul><ul><li>-Identified has Indian religions like Hindus, Muslims, Christians with specific references & tastes, regional groups such as north Indian, south Indian again differing in tastes, food etc. </li></ul><ul><ul><ul><li>Social class </li></ul></ul></ul><ul><li>-Within the social class people tend to exhibit similar behaviour including buying behaviour, marketers concentrate on classes like lower & middle level classes </li></ul>
  5. 5. <ul><ul><li>Social factors </li></ul></ul><ul><li>Reference groups </li></ul><ul><li>-A group which belongs & interacts has direct influence </li></ul><ul><li>Family </li></ul><ul><li>-Family influence from parents & spouse & children </li></ul><ul><li>  </li></ul><ul><li>Role& status </li></ul><ul><li>-Refers to person position in each group. </li></ul><ul><li>  </li></ul><ul><li>  </li></ul>
  6. 6. <ul><ul><li>Personal factors </li></ul></ul><ul><li>Age & stage of life cycle </li></ul><ul><li>-People change goods & services they buy over their life times. They eat baby food in the childhood, most foods in the growing & mature years & special diets in the old age. </li></ul><ul><li>  </li></ul><ul><li>Occupation </li></ul><ul><li>- Occupation has too influence on the goods & services bought by each individuals </li></ul><ul><li>  </li></ul>
  7. 7. <ul><li>Consumer decision making/Buying process/STAGES </li></ul><ul><li>1. Problem recognition </li></ul><ul><li>-It recognizes the problem or need of consumers </li></ul><ul><li>-A marketer at this stage needs to determine the circumstances that usually stimulate a consumer & go for search on what kinds of needs or problems arise & what brought them about * how they led to this particular product </li></ul>
  8. 8. <ul><li>2. Information search </li></ul><ul><li>Sources: </li></ul><ul><li>1. Personal sources </li></ul><ul><li>2. Commercial sources </li></ul><ul><li>3. Public sources </li></ul><ul><li>4. Experimental sources </li></ul><ul><li>  </li></ul><ul><li>  </li></ul>
  9. 9. <ul><li>3. Evaluation alternatives </li></ul><ul><li>Firstly consumers look at each product as a bundle of attributes </li></ul><ul><li>  </li></ul><ul><li>Secondly consumer attach different importance weights to the relevant attributes </li></ul><ul><li>  </li></ul><ul><li>Thirdly consumers develop a set of brand beliefs about where each brand stands on each attribute </li></ul><ul><li>  </li></ul><ul><li>Fourthly consumer develop a utility, function for each attribute </li></ul><ul><li>  </li></ul><ul><li>Fifthly consumer arrives at attributes, i.e. , judgments & preferences towards the brand alternatives through some evaluation procedure </li></ul><ul><li>  </li></ul>
  10. 10. <ul><li>4. Purchase decision </li></ul><ul><li>It includes with the set of preferences also depend on the situation & attitude </li></ul><ul><li>  </li></ul><ul><li>5. Post purchase decision </li></ul><ul><li>After buying & trying the product the consumer will fell some level of satisfaction depends very much on the expectation & the product’s perceived performance </li></ul>

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