The document discusses key concepts in consumer behavior including why it is important to study, factors that influence purchasing decisions, and challenges in marketing to different cultures. It notes that failure rates of new products are high, that consumer motivation and behavior must be analyzed, and that standardizing marketing across cultures is difficult due to differences in tastes and habits. Examples of lost in translation marketing messages that had unintended meanings in other cultures are also provided.

1. Consumer Behaviour

2. Based on concepts from Psychology Sociology Anthropology Marketing Economics

3. Why do we need to study Consumer Behaviour? Because no longer can we take the customer/consumer for granted.

4. Failure rates of new products introduced Out of 11000 new products introduced by 77 companies, only 56% are present 5 years later. Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives.

5. All managers must become astute analysts of consumer motivation and behaviour

6. Can Marketing be standardised? No. Because cross - cultural styles, habits, tastes, prevents such standardisation.

7. Unless Managements act The more successful a firm has been in the past, the more likely is it to fail in the future.

8. Why? Because people tend to repeat behaviour for which they have been rewarded.

9. Language Problems “ Please leave your values at the desk” - Paris hotel “ Drop your trousers here for best results” - Bangkok laundry “ The manager has personally passed all water served here” - Acapulco restaurant “ Because of the impropriety of entertaining guests of the opposite sex in the bedroom, it is suggested that the lobby be used for the purpose.” - Zurich hotel Ladies are requested not to have children in the bar.”- Norway bar

10. “Come alive with Pepsi” “Come alive out of the grave” - Germany “Pepsi brings your ancestors back from the grave” - China

11. Buyer Behaviour Consumer 4Ps Marketing Environment Buyer Characteristics Buyer Decision Process Buyer Decision

12. Marketing Stimuli 4 Ps Product Price Place Promotion

13. Other Stimuli Marketing Environment Economic Technological Political Cultural

14. Buyer characteristics Cultural Social Personal Psychological

15. Buyer’s Decision Process Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Consumption Postpurchase behaviour

16. Buyer’s Decision Product Choice Brand Choice Dealer Choice Purchase Timing Purchase Amount

17. Cultural factors Culture Sub - culture Social Class

18. Social factors Reference Groups Family Roles and Status

19. Personal Factors Family Life Cycle Occupation and Economic circumstances Lifestyle Personality and self - concept

20. Psychological Factors Motivation Perception Learning Beliefs and Attitudes

21. Buying Roles Initiator Influencer Decider Buyer User

22. Buying Behaviour Complex Dissonance - Reducing Habitual Variety seeking

23. Buying Process Problem Recognition Information Search Evaluation Alternatives Purchase Decision

24. Post - Purchase Behaviour Satisfaction Actions Use and Disposal