This is the presentation based on how to analyze consumer markets with audio by Nalini Bhattar, Dyal Singh College, D.U., during marketing internship by Prof. Sameer Mathur, IIM Lucknow.

1. ANALYSING
CONSUMER
MARKETS.

2. WHAT IS CONSUMER BEHAVIOUR?
It is the study of how individuals, groups and
organisations select, buy, use and dispose the
goods, services, ideas and experiences to
satisfy their needs and wants.

3. MARKETERS SHOULD
FULLY
UNDERSTAND BOTH THE
THEORY AND REALITY OF
CONSUMER BEHAVIOUR.

4. FACTORS INFLUENCING CONSUMER’S BUYING
BEHAVIOUR:
Cultural factors
Social factors
Personal factors

5. CULTURAL FACTORS
Fundamental determinant of a
person’s wants and behaviour.
Eg: child growing up in U.S. is
exposed to value such as
achievement, success, progress,
freedom etc. while in other
country, child might have a
different view of self, relations
and rituals.

6. SOCIAL FACTORS
Buying behaviour affected by
social factors such as reference
groups, family and social role
and status.
Eg: family, friends, neighbours,
co-workers, trade union groups
and etc.

7. It depends on other factors:
• Age and stage in life cycle.
• Occupation and economic circumstances.
• Personality.
• Life style.
PERSONAL FACTORS

8. 1.AGE AND STAGE IN LIFE CYCLE
Our taste in food, clothes, furniture,
recreation is often related to our age.
Stages like child birth, death, divorce,
marriage, first job and etc.
E.g.: Baby market targeting expectant and
new parents.

9. 2.OCCUPATION AND ECONOMIC
CIRCUMSTANCES
Occupation also influences
consumption patterns. Marketers try to
identifying the occupational groups that
have above-average interest in their
products and services and even tailor
products for certain occupational
groups,
Like different products for brand
manager, engineers, lawyer and
physicians.

10. 3. PERSONALITY
Brands also have personality and
consumers are likely to choose brands
whose personality match their own.

11. 4.LIFE STYLE
Person’s pattern of living in the world as
expressed in activities, interaction and
opinion.

12. KEY PSYCHOLOGICAL
PROCESSES
The marketer’s task is to
understand what happens in
consumer’s consciousness
between the arrival of the
outside marketing stimuli and
the ultimate purchase decision.

13. FOUR KEY FACTORS OF
PSYCHOLOGICAL
PROCESSES
1. Motivation
2. Perception
3. Learning
4. Memory

14. MOTIVATION
THREE OF THE BEST KNOWN THEORIES OF
HUMAN MOTIVATION:
1- FREUD’S THEORY: HE ASSUMED THE
PSYCHOLOGICAL FORCES SHAPING PEOPLE’S
BEHAVIOUR ARE LARGELY UNCONSCIOUS AND
THAT A PERSON CAN NOT FULLY UNDERSTAND
HIS OR HER OWN MOTIVATIONS.
2- MASLOW’S THEORY: IT EXPLAINED WHY
PEOPLE ARE DRIVEN BY PARTICULAR NEEDS AT
PARTICULAR TIMES. HUMAN NEEDS ARE
ARRANGED IN A HIERARCHY FROM MOST TO
LEAST PRESSING.
3- HERZBERG’S THEORY: DEVELOPED A TWO
FACTOR THEORY THAT DISTINGUISHES BETWEEN
DISSATISFIERS AND SATISFIERS.

15. PERCEPTION
PERCEPTION IS THE
PROCESS BY WHICH WE
SELECT, ORGANISE, AND
INTERPRET INFORMATION
INPUTS TO CREATE A
MEANINGFUL PICTURE OF
THE WORLD.

16. LEARNING
LEARNING INCLUDES CHANGES IN
OUR BEHAVIOUR ARISING FROM
EXPERIENCE. MOST HUMAN
BEHAVIOUR IS LEARNED, THOUGH
MUCH LEARNING IS INCIDENTAL.
LEARNING THEORISTS BELIEVE
LEARNING IS PRODUCED THROUGH
THE INTERPLAY OF DRIVES, STIMULI,
CUES, RESPONSES AND
REINFORCEMENT.

17. MEMORY
THERE ARE TWO TYPES OF
MEMORTY : SHORT TERM
MEMORY and LONG TERM
MEMORY.
SHORT TERM MEMORY IS A
TEMPORARY AND LIMITED
REPOSITORY OF
INFORMATION.
LONG TERM MEMORY IS A
MORE PERMANENT,
ESSENTIALLY UNLIMITED
REPOSITORY.

18. BUYING DECISION
PROCESS
SMARTS COMPANIES TRY TO FULLY
UNDERSTAND CONSUMER’S BUYING
DECISION PROCESS – ALL THE EXPERIENCES
IN LEARNING, CHOOSING, USING AND
EVEN DISPOSING OF A PRODUCT.
IT HAS FIVE STAGE MODEL.

19. 1-PROBLEM RECOGNITION : THE BUYING
PROCESS STARTS WHEN THE BUYER
RECOGNISES A PROBLEM OR NEED TRIGGERED
BY INTERNAL OR EXTERNAL STIMULI.
2-INFORMATION SEARCH :CONSUMERS OFTEN
SEARCH FOR ONLY LIMITED INFORMATION.
INFORMATION SOURCES-
a) PERSONAL- FAMIL, FRIENDS , NEIGHBOURS.
b) COMMERCIAL- ADVERTISING, WEB SITES,
EMAILS, PACKAGING, DISPLAYS.
c) PUBLIC- MASS MEDIA, SOCIAL MEDIA,
CONSUMER RATING ORGANISATIONS.
d) EXPERIMENTIAL- HANDLING, EXAMING, USING
THE PRODUCTS.

20. 3-EVALUATION OF ALTERNATIVES
4-PURCHASE DECISION: IN THE EVALUATION
STAGE, THE CONSUMER FORM
PREFERENCES AMONG THE BRANDS IN THE
CHOICE SET AND MAY ALSO FORM AN
INTENSION TO BUY THE MOST PREFERRED
BRAND.
5-POSTPURCHASE BEHAVIOUR: AFTER THE
PURCHASE, THE CONSUMER MIGHT
EXPERIRNCE DISSONANCE FROM NOTICING
CERTAIN DISQUIETING FEATURES OR
HEARING FAVORABLE THINGS ABOUT OTHER

21. DISCLAIMER
Created by Nalini Bhattar , Dyal Singh College, D.U., during
Marketing Internship by Prof. Sameer Mathur, IIM
Lucknow.