Consumer Behavior

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Consumer Behavior

  1. 1. CONSUMER BEHAVIOR By Mudit Sharma AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  2. 2. What is Consumer Behavior • Study of how people buy, what they buy, when they buy and why they buy. • Attempts to understand the buyer decision making process, both individually and in groups. • Studies characteristics of individual consumers such as demographics, psychographics, and behavioural variables AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  3. 3. Customers versus Consumers • ‘Customer’ is specific in terms of brand, company, or shop. • A person who customarily or regularly purchases particular brand. • ‘Consumer’ a person engaged in - search, select, use and dispose of products, services, experience, or ideas. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  4. 4. Consumer’s decision making process 1. Need Recognition 2. Information Search 3. Evaluation of Alternatives 4. Purchase Decision 5. Post-Purchase Behavior AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  5. 5. Need recognition Stage between the desired state and the actual condition. • Ex-Hunger stimulates need to eat. • A commercial stimulates need recognition that you need a particular product. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  6. 6. Information Search • Internal search : Memory • External search: Friends and Relatives Ex-Hungry, want to go out and eat, evoked set is 1. Chinese food 2. South Indian food 3. Baked food AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  7. 7. Evaluation of Alternatives Need to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives. Ex-If you want to eat something healthy, then South Indian food gets the highest rank AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  8. 8. Purchase Decision • To Choose buying alternative • Product • Package • Store • Method of purchase AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  9. 9. Purchase Depends on: • Decision, • Time lapse between purchase decision and the actual purchase. • Product availability. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  10. 10. Post-Purchase Behavior • The outcomes: Satisfaction or Dissatisfaction. • Can be reduced by warranties, after sales communication • Ex-After eating a South Indian meal, you may think that really you wanted a Chinese meal instead. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  11. 11. Factors affecting consumer behavior • Pride • Fear • Fashion • Possession • Health • Comfort • Love and affection • Information AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  12. 12. Consumer Involvement • State of awareness motivating consumers to think about product information prior to purchase. • Consumer more involved in products and shopping than others. • Highly involved with a product • Interested in knowing a lot about it • Reads brochures thoroughly • Compares brands and models • Asks questions, and looks for recommendations. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  13. 13. Effects of consumer involvement • Makes consumers process product-related information more readily • Information is retained for a longtime. • Consumers become emotionally high and tend to engage AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  14. 14. Decision making of a Consumer • Four types of consumer decisions 1. Routine Response/Programmed Behavior 2. Limited Decision Making 3. Extensive Decision Making 4. Impulse buying AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  15. 15. Routine Response/Programmed Behavior • Buying low involvement, frequently purchased, low cost items. • Examples Soft drinks, snack foods, milk etc. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  16. 16. Limited Decision Making • Buying product occasionally. • That is when you need to obtain information about unfamiliar brand in a familiar product category. • Example- Clothes--know product class but not the brand. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  17. 17. Extensive Decision Making • Complex high involvement, unfamiliar, expensive and infrequently bought products. • Spend a lot of time seeking information and deciding. High degree of risk. • Example-Cars, homes, computers, education. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  18. 18. Impulse buying • No conscious planning. • Found a shirt looking nice, immediately purchased it! AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  19. 19. The purchase of the same oduct does not always elicit the ame Buying Behavior. Product an shift from one category to the next. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.
  20. 20. AcroPDF - A Quality PDF Writer and PDF Converter to create PDF files. To remove the line, buy a license.

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