For marketers and marketing students the importance of understanding the behavior of consumer is very important. Understanding Consumer Behavior can be directly related to the profit/ promotion of any product or service.
This presentation is associated with a Lecture delivered to M.B.A students.
Meaning and nature of buyer behavior, differences between consumer buying and organizational buying in terms of characteristics and process, Strategic use of consumer behavior knowledge in marketing and public policy decisions. Modern Consumerism and the global consumer movement
Meaning and nature of buyer behavior, differences between consumer buying and organizational buying in terms of characteristics and process, Strategic use of consumer behavior knowledge in marketing and public policy decisions. Modern Consumerism and the global consumer movement
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Industrial marketing (or business-to-business marketing) is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials.
The study of consumer behaviour helps marketers and experts to recognize and forecast and predict the purchase behaviour of the consumers while they are purchasing a product. The study of consumer behaviour helps the marketers not only to understand and consider what consumer's purchase, but helps to understand why they purchase and needs and wants of consumers.
Strategies Affecting Consumer Behavior:
Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are various factors influencing the purchases of consumer such as social, cultural,economic, personal and psychological.
1. Social Factors
Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.
a)Reference Groups
Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc .
b) Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
c) Roles and Status
Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.
2. Cultural Factors:
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar.
3. Economic Factors:
Consumer behaviour is influenced largely by economic factors. Economic factors that influence consumer behaviour are as: personal income, family income ,savings ,consumer credit and other economic factors.
a) Personal Income:
The discretionary personal income refers to the balance remaining after meeting basic necessaries of life. This income is available for the purchase of shopping goods, durable goods and luxuries. An increase in the discretionary income leads to an increase in the expenditure on shopping goods, luxuries etc. which improves the standard of living
A study report on Consumer Market and Consumer Buying Behavior- towards the partial fulfillment of credits for the course CA2- Socio-Economic Base for Planning at the School of Planning and Architecture, New Delhi (November 2019)
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Industrial marketing (or business-to-business marketing) is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials.
The study of consumer behaviour helps marketers and experts to recognize and forecast and predict the purchase behaviour of the consumers while they are purchasing a product. The study of consumer behaviour helps the marketers not only to understand and consider what consumer's purchase, but helps to understand why they purchase and needs and wants of consumers.
Strategies Affecting Consumer Behavior:
Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are various factors influencing the purchases of consumer such as social, cultural,economic, personal and psychological.
1. Social Factors
Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.
a)Reference Groups
Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc .
b) Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
c) Roles and Status
Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.
2. Cultural Factors:
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar.
3. Economic Factors:
Consumer behaviour is influenced largely by economic factors. Economic factors that influence consumer behaviour are as: personal income, family income ,savings ,consumer credit and other economic factors.
a) Personal Income:
The discretionary personal income refers to the balance remaining after meeting basic necessaries of life. This income is available for the purchase of shopping goods, durable goods and luxuries. An increase in the discretionary income leads to an increase in the expenditure on shopping goods, luxuries etc. which improves the standard of living
A study report on Consumer Market and Consumer Buying Behavior- towards the partial fulfillment of credits for the course CA2- Socio-Economic Base for Planning at the School of Planning and Architecture, New Delhi (November 2019)
group assign. Cultural and Social Influences the Purchase Decision.pptxMezgebuTesfaye4
Cultural factors have a subtle influence on a consumer's purchasing decision process. Since each individual lives in a complex social and cultural environment, the kinds of products or services they intend to use can be directly or indirectly be influenced by the overall cultural context in which they live and grow.
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Consumer behavior
1. Consumer Behavior
Presented on: 27/02/2019
Presented by:
Deep J. Gurung
Senior Research Fellow
Department of Business Administration
Tezpur University
2. Importance of consumer behavior for
marketers
To know the purchase behavior & preferences
Different consumers, religion, gender, age,
occupation, nationality & social status-different needs
Study of CB provides invaluable clues & guidelines to
marketers on new technological frontiers that they
need to explore
Behavior needs to be understood & be influenced to
ensure a positive purchase decision
For the survival and growth of organization
4. the way in which one acts or conducts oneself,
especially towards others.
Behaviour
5. "The decision process and physical activity engaged in
when evaluating, acquiring, using or disposing of
goods and services."
Consumer Behavior Defn
6. Initiator: The person who determines that some need
or want is not being met.
Influencer :The person who
intentionally/unintentionally influences the decision
to buy the actual purchase and/or use of product or
service.
Buyer: The person who actually makes the purchase.
User: The person who actually uses or consumes the
product or service.
Consumer Behaviour Roles
9. Motivation & Involvement:
Motivation is that internal force which arouses or
activates some need and provides direction of
behaviour towards fulfillment of the need.
Involvement refers to the personal relevance or
importance of a product or service that a conumer
perceives in a give situation
Individual Determinants
10. Attitude: Attitudes are our learned predispositions
towards objects, people and events. Attitudes guide
our orientation towards these. It is our attitudes
which influence how we respond to different
products and services. Attitudes are not inborn or
innate in us.
11. Personality and Self-concept :
Personality is the sum total of the unique individual
characteristics that make each one of us what we are.
Self-concept or self-image is the way we perceive
ourselves in a social framework.
12. Learning and Memory: Our motives, attitudes and
personality act as filters by letting in only relevant
information and keeping 'all other information out.
Information Processing : This refers to the process
and activities which consumers engage in while
gathering, assimilating and evaluating information.
13. Cultural Influences : Culture is defined as the
complex, sum total of knowledge, belief, traditions,
customs, art, morals, law and any other habits
acquired by people as members of a society.
Sub-cultural Influences : Within a given culture, there
are many groups or segments of people with distinct
customs, tradition and behaviour, which set them
apart from other people.
EXTERNAL ENVIRONMENT
14. Social Class Influences : Social class is a group
consisting of a number of people who share more or
less equal position in a society. Within a social class
people tend to share same values, beliefs, and exhibit
similar patterns of behaviour and consumption. Social
classes may be defined by parameters such as income
and occupation.
15. Social Group Influences : A social group is a
collection of individuals who share some common
attitudes and a sense of relationship as a result of
interaction with each other.
Family Influences : Family is a social group which can
be defined as a primary group.
16. Personal Influences : Distinct personality influences
his decisions and behaviour as a consumer.
The process of evaluation of different products and
different brands will vary from person to person.
17. Other Influences : Situational variables such as
product display, price reduction offers, free gift
offers, also influence consumer behaviour.
18. 1. Analyzing Market Opportunities
2. Selecting Target Market
3. Determining Product Mix
4. Use in Non-Profit or Social Marketing
APPLICATIONS OF CONSUMER
BEHAVIOUR IN MARKETING