1. CONSUMER BEHAVIOUR Satishjoshi

2. “Consumer Behavior: How and Why People Buy”

5. Marketing and Other Stimuli Model of Consumer Behavior Product Price Place Promotion Economic Technological Political Cultural Buyer’s Black Box Characteristics Affecting Consumer Behavior Buyer’s Decision Process Buyer’s Response Purchase Timing Purchase Amount Product Choice Brand Choice Dealer Choice

6. Characteristics Affecting Consumer Behavior Culture Social Personal Psychological Buyer

7. Factors Influencing Consumer Behavior

8. Cultural Factors Culture is the most basic determinant of a person’s wants and behavior Culture includes a set of learned beliefs, values, attitudes, habi6ts and forms of behaviour that are shared by a society and are transmitted from generation to generation within that society.

9. Subcultures are groups of people with shared value systems based on common life experiences and situations

10. “Social class is the relatively permanent and homogenous division in the society into which individuals and families sharing similar values, life styles, interest and behaviour can be categorised”

11. Characteristic Features of Social Classes Persons within a given social class tend to behave alike Social class is hierarchical Social class is not measured by single variable Social class is continuous

12. Social Classes • Six classes: upper-upper, lower-upper, upper-middle, lower-middle, working class, lower class. • Two-category social class—Blue and white collar. • Nine category-- lower-lower, lower-middle, lower-upper middle-lower, middle-middle, middle-upper, upper lower, upper-middle, upper-upper class. India’s SEC (socioeconomic classification) combines occupation and education and classify respondent in SEC A1, A2,B1, B2, C1, C2 and D classes.

13. Types of Reference Groups Normative reference group Comparative reference group Indirect reference Contactual reference group Aspirational group Disclamant group Avoidance group

14. Consumer Purchase Process Expectations and reality – cognitive dissonance Internal or external sources Whom to buy and when to buy Defining the need / want Defining criteria

15. Types of Buying Decisions Complex Buying Behavior Variety- Seeking Behavior High Involvement Low Involvement Dissonance- Reducing Buying Behavior Significant differences between brands Habitual Buying Behavior Few differences between brands