Marketing

1. CONSUMER BEHAVIOR IN
SERVICES MARKETING
BY: MEENAKSHI KHANNA
A.P.(MGMT),CPJCHS

2. Why do Individual Consumer Select a
particular service say a Bank
• It is conveniently located.
• My father has an account in this bank
• My friend is working here
• My neighbor introduced me.
• And so on.

3. MOTIVATION & CONSUMER
BEHAVIOR
• MASLOW’S HIERARCHY OF NEEDS
A. PHYSIOLOGICAL NEED
B. SAFETY
C. BELONGINGNESS
D. ESTEEM
E. SELF ACTUALISATION

4. Physiological Need
• Core product or service that works.

5. Safety need
• Basic reliable services associated with core
product or services
• Eg: a bank addressing safety need through an
ad- Going on Vacations? Will your valuable be
safe while you are away? For only some
rupees a day you can rent a safe deposit box.

6. Belongingness
• Human interactions facilitating selcetion and
use of existing products and services
• Eg: when a bank markets credit cards through
organization such as alumni, affinity groups

7. ESteem
• Superior developed new business solutions
• eg: practice of assigning a personal banker to
each customer.

8. Self actualisation
• Partnerships
• Eg: the tremendous growth in the use of
credit card is in the segment where standard
of living is high because people acquire this
tool that help them attain fuller self
actualisation.

9. PERCEPTION & CONSUMER BEHAVIOR
• SELECTIVE EXPOSURE-
• people most likely to notice stimuli that relate to
current need
• People are likely to notice stimuli that they expect
or anticipate
• People are more likely to notice stimuli that are
large in relation to normal size of stimuli
• SELECTIVE DISTORTION
• SELECTION RETENTION

10. CONSUMER DECISION MAKING FRAMEWORK
• SOCIAL FACTORS
a. Family influence
b. Reference group influence
c. Roles & status
• CULTURAL FACTORS
a. Culture
b. Sub culture
c. Social class

11. • PSYCHOLOGICAL FACTORS
a. Beliefs & attitudes
b. learning
• PERSONAL FACTORS
a. Age & family life cycle
b. Economic circumstances
c. Occupation
d. Personality & self concept
e. psychgraphics

12. LEARNING THEORY
A. DRIVE
B. CUES
C. RESPONSE
D. REINFORCEMENT

13. FAMILY LIFE CYCLE & BANKING NEEDS
STAGE FINACIAL SITUATION BANKING NEEDS
YOUNG , SINGLE PROPLE FEW FINNACIAL BURDENS,
RECREATION ORIENTED
LOW COST CHECKING,
AUTO LOAN, CREDIT CARD
FULL NEST: YOUNGEST
CHILD UNDER SIX
HOME PURCHASING PEAK,
LIQUID ASSETS LOW, MANY
WORKING MOTHERS
MORTGAGE, CREDIT CARD,
REVOLVING CREDIT LINE,
BILL CONSOLIDATION LOAN
FULL NEST: OLDER
COUPLES WITH
DEPENDENT CHILDREN
GOOD FINANCIAL
POSITION, MANY
WORKING MOTHERS
HOME IMPROVEMENT
LOANS, EQUITY CREDIT
LINES, CERTIFICATES OF
DEPOITS, MONEY MARKET
DEPOSITS
EMPTY NEST: OLDER
COUPLES, NO CHILDREN AT
HOME
SIGNIFICANTLY REDUCED
INCOME
MONTHLY INCOME CHECKS
ON CDs, estate planning,

14. CONSUMER BUYING PROCESS
• STAGE 1: AWARENESS
• STAGE 2: SEARCH & COMPEREHENSION
• STAGE 3: ATTITUDE DEVELOPMENT
• STAGE 4: EVALUATION OF ALTERNATIUVES
• STAGE 5: PURCHASE
• STAGE 6: ADOPTION & POST PURCHASE
BEHAVIOR

15. ORGANISATIONAL BUYING BEHAVIOR
• STAGE 1: NEED IDENTIFICATION
• STAGE II: DEFINE OBJECTIVES &
SPECIFICATIONS
• STAGE III: IDENTIFY ALTERNATIVES
• STAGE IV: EVALUATE ALTERNATIVES
• STAGE V: SELECT SUPPLIER

16. ITEM CONSUMER BUYER
BEHAVIOR
ORGANISATIONAL
BUYER BEHAVIOR
INVOLVEMENT ONE OR TWO PEOPLE INVOLVED IN
BUYING PROCESS
SEVERAL PEOPLE
INVOLVED
TYPE RELATIVELY SIMPLE PROCESS BUT
INFORMAL
DEPENDING ON NATURE
OF PURCHASE, CAN BE
COMPLICATED
FORMALISED
PATTERN NO SET FORMULA SYSTEMATIC SEQUENCE
BEHAVIOR LEARNT BEHAVIOR PROFESSIONAL SKILL &
TRAINING
BUYER-SELLER
RELATIONSHIP
INDEPENDENT RELATIONSHIP
BETWEEN BUYER & SELLER
INTERDEPENDENT
RELATIONSHIP