The presentation gives a clear description of what consumer behaviour is and what all are the factors that affect a consumer. In this presentation, the main focus is on the case study product that is Sofa. We would observe the factors that influence their behaviour in such a case.
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
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
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
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
What consumers thinking before purchasing the commodity or how they take decisions for purchasing any commodity.
This presentation covered the stages of buying process of coonsumer.So, it helps to analyse the buying behaviour of people.
Channel Information Systems
Purpose
Information - Advantages
Classification of Information
Information Process
Developing a Channel MIS
Use of Information
Sources of Data
Competition Tracking
Elements of a Channel Information System
Channel Performance Evaluation
IT System for Channels
Intensive Distribution
Measuring Sources of Brand Equity -Brand ManagementAqib Syed
Measuring the sources of brand equity.
The use of social media platforms and websites to promote a product or service. (Wikipedia)
Refers to techniques that target social networks and applications to spread brand awareness or promote particular products. (Techopedia)
What consumers thinking before purchasing the commodity or how they take decisions for purchasing any commodity.
This presentation covered the stages of buying process of coonsumer.So, it helps to analyse the buying behaviour of people.
Channel Information Systems
Purpose
Information - Advantages
Classification of Information
Information Process
Developing a Channel MIS
Use of Information
Sources of Data
Competition Tracking
Elements of a Channel Information System
Channel Performance Evaluation
IT System for Channels
Intensive Distribution
Measuring Sources of Brand Equity -Brand ManagementAqib Syed
Measuring the sources of brand equity.
The use of social media platforms and websites to promote a product or service. (Wikipedia)
Refers to techniques that target social networks and applications to spread brand awareness or promote particular products. (Techopedia)
1CONSUMER BEHAVIOR ON PERSONAL PROFILE EttaBenton28
1
CONSUMER BEHAVIOR ON PERSONAL PROFILE 2
Jacob Hurst
CTU
Professor Harris
CB475
2/1/21
Consumer Behavior on Personal Profile
Cultural and societal influence
A variety of choices are available that make the purchasing process complicated. Many factors influence the individual purchasing process as a consumer. For instant, personal traits, psychological aspects, social and cultural factors play a vital role in influence (Sethi, & Chawla, 2014). It is essential to understand the effect of social and cultural factors on individual purchase behavior. As a consumer, societal and cultural factors have a significant impact on my buying behavior.
Family is a significant part of the societal influence of personal buying behavior. It has a vital role as a husband and to my children. Moreover, reference groups, immediate friends, relatives, my role in society, and social status adds up in the social influence of buying (Dean, 2010). Consequently, my buying attitude as a societal influence is value-expressive. As a Caucasian male with a family, I will commonly buy special household items instead of getting self-fulfilling products, for instance, a fishing rod. Additionally, college status can relate to buying of house bookshelf or and stationery that relates to my college studies for reminders. Hence societal factors such as family and study levels affect valuable expression on buying.
I play different roles in life. Each of the parts consists of activities and attitudes that perform regarding the individual self. My social status reflects the self-position in groups based on wealth, education, and occupation. The position is vital and individual's admirer others. The quality is acquired through success in life and born in wealth. My product and brand choice reflect my societal role and status.
Moreover, cultural factors have a significant influence on my buying behavior. The cultural factors are the set of values and ideology of the Caucasian community and individuals. Whatever I see from my childhood, including my habits, belief, and principles, developed in me. As a result of my fishing hobby and working a lot, I have developed a buying behavior of spending mostly on fishing equipment and work-related items. The buying has satisfied my ego-defensive attitude of buying. Besides, buying movie-related items such as move drives provides an essence of the practical perspective. Cultural and societal factors have affected consumer behavior; thus, there is a shift of producer's attention from production to consumers.
Influence of personal communication style
Personality differentiates an individual from others—for instance, the change in personal characters such as self-confidence, flexibility, friendliness, and supremacy. Personal communication determines how individuals see themselves and the surrounding including how others see us. People around ...
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)
Consumer behaviour is said to be the study of when, why, how and where people do or do not buy a product. It’s basically something that depends on the psychology of the consumer. In this, we attempt to understand the buyer’s decision-making process. It also includes the study of individual consumers such as demographics & behavioural aspects for understanding the people’s wants and needs.
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.
Understanding the concept of Corporate governanceHumsi Singh
The presentation gives you an overview of what is corporate governance, its issues, relevance, scope, importance and benefits in today's scenario. This presentation aims to clarify the concept of the views to know the fundamentals of corporate governance and its role in today's market-oriented world.
The presentation is a representation of facts and figures of India's trading patterns with its partners(countries) and commodities that are exclusively exported and imported frequently. It helps in understanding the frequency and % increase and decrease in import-export in past few years.
The presentation is a detailed description of the factories act 1948, its objectives, coverage, applicability, duties etc are mentioned in detailed and explained way. The presentation also includes various views of different history establishments. The presentations are a helpful guide for both commerce and law students.
The presentation is a detailed description of the factories act 1948, its objectives, coverage, applicability, duties etc are mentioned in detailed and explained way. The presentation also includes various views of different history establishments. The presentations are a helpful guide for both commerce and law students.
Compensation policy of tata consultancy servicesHumsi Singh
The presentation gives information about compensation policies of the popular TCS. Pay-For-Performance compensation policy is similar to a merit increase because it's based on employee performance. The viewers will be able to understand the concept of compensation management and decision making techniques through this presentation.
The presentation highlights the important compensation policies of Nestle. It will help the viewers to understand the compensation management and distribution procedure.
The presentation gives you an overview of Marketing, Traditional Marketing, Digital Marketing (significance, importance, usage, components,etc.) Digital marketing is one of the most cost-effective mediums of marketing. It allows you to use content to get connected with customers. It is important to understand the concept so as to avail all its benefits.
The presentation is created with the objective of making the viewers understand the concept, features, role, budgeting, and the importance of advertising in today's marketing world. it also helps the viewers to understand the objectives of the most important function or feature of marketing i.e. advertising. Trends in marketing that establish the concept of advertising are also explained in the presentation.
Performance appraisal and job evaluationHumsi Singh
This presentation helps you understand the basic meaning and use of performance appraisal and job evaluation techniques in HRM. It also helps in understanding the need of the above.
Placement, orientation, training and developmentHumsi Singh
The presentation explains the concept of placement, orientation, training, and development in Human Resource Management's staffing process. It explains the objectives and drawbacks of the same.
Human resource planning and job analysisHumsi Singh
The presentation gives the viewer an idea about the concept of human resource planning and job analysis in an organization. one can also get familiar with the processes and procedures of these human resource management activities.
Challenges for banking in current scenarioHumsi Singh
The presentation describes the challenges faced by the banking sector in today's scenario. It tells about the various problems faced by banks nowadays.
Deposit Facilities and Banking ServicesHumsi Singh
The presentation gives an outlook of various deposit accounts and banking services. The presentation also gives an overview of the basic functions performed by the banks and the provision of their services.
Deposit Facilities and Banking ServicesHumsi Singh
The presentation gives an outlook of various deposit accounts and banking services. The presentation also gives an overview of the basic functions performed by the banks and the provision of their services.
The document contains basic features of human resource management and general policies formulated by almost every organisation for managing their human resources.
The presentation explains the concept of banking and its lending system. Different types of credit facilities as well as principles of sound lending are also discussed.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
In today's digital landscape, understanding the customer's journey and delivering personalized experiences are paramount. This masterclass delves into the art of consumer journey mapping, a powerful technique that visualizes the entire customer experience across touchpoints. Attendees will learn how to create detailed journey maps, identify pain points, and uncover opportunities for optimization. The presentation also explores personalization strategies that leverage data and technology to tailor content, products, and experiences to individual customers. From real-time personalization to predictive analytics, attendees will gain insights into cutting-edge approaches that drive engagement and loyalty.
Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
How to Use AI to Write a High-Quality Article that Ranksminatamang0021
In the world of content creation, many AI bloggers have drifted away from their original vision, resulting in low-quality articles that search engines overlook. Don't let that happen to you! Join us to discover how to leverage AI tools effectively to craft high-quality content that not only captures your audience's attention but also ranks well on search engines.
Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Is AI-Generated Content the Future of Content Creation?Cut-the-SaaS
Discover the transformative power of AI in content creation with our presentation, "Is AI-Generated Content the Future of Content Creation?" by Puran Parsani, CEO & Editor of Cut-The-SaaS. Learn how AI-generated content is revolutionizing marketing, publishing, education, healthcare, and finance by offering unprecedented efficiency, creativity, and scalability.
Understanding
AI-Generated Content:
AI-generated content includes text, images, videos, and audio produced by AI without direct human involvement. This technology leverages large datasets to create contextually relevant and coherent material, streamlining content production.
Key Benefits:
Content Creation: Rapidly generate high-quality content for blogs, articles, and social media.
Brainstorming: AI simulates conversations to inspire creative ideas.
Research Assistance: Efficiently summarize and research information.
Market Insights:
The content marketing industry is projected to grow to $17.6 billion by 2032, with AI-generated content expected to dominate over 55% of the market.
Case Study: CNET’s AI Content Controversy:
CNET’s use of AI for news articles led to public scrutiny due to factual inaccuracies, highlighting the need for transparency and human oversight.
Benefits Across Industries:
Marketing: Personalize content at scale and optimize engagement with predictive analytics.
Publishing: Automate content creation for faster publication cycles.
Education: Efficiently generate educational materials.
Healthcare: Create accurate content for patients and professionals.
Finance: Produce timely financial content for decision-making.
Challenges and Ethical Considerations:
Transparency: Disclose AI use to maintain trust.
Bias: Address potential AI biases with diverse datasets.
SEO: Ensure AI content meets SEO standards.
Quality: Maintain high standards to prevent misinformation.
Conclusion:
AI-generated content offers significant benefits in efficiency, personalization, and scalability. However, ethical considerations and quality assurance are crucial for responsible use. Explore the future of content creation with us and see how AI is transforming various industries.
Connect with Us:
Follow Cut-The-SaaS on LinkedIn, Instagram, YouTube, Twitter, and Medium. Visit cut-the-saas.com for more insights and resources.
2. Agenda
02
03
04
Introduction
Topic and product are
introduced here.
Factors Affecting
the Consumer
Behaviour
Different factors that
affect consumer
behaviour are
discussed here.
Conclusion
What all we have
understood about
consumer’s buying
patterns is
summarized here.01
About
Gives brief information
about the presentation.
3. The presentations highlights
factors affecting consumer
behaviour for a particular
product in the market. A
product holds various
attributes and hence influence
the customer for its purchase.
In the presentation, different
factors and their relevance to
the consumer behaviour and
purchase is shown.
About
4. Introduction
My ProductConsumer Behaviour
The choice of my product is very
relatable to our day to day lives. In
this presentation, my primary
focus of consumer behavior would
be on the basis of the choice of
sofa. Furniture refers to movable
objects intended to support
various human activities such as
seating, eating, and sleeping.
Furniture is also used to hold
objects at a convenient height for
work, or to store things. Furniture
can be a product of design and is
considered a form of decorative
art. It is an essential part of our
lives and is a shopping product.
Customers consider a number of
while purchasing furniture.
Consumer behaviour is the study
of how individual customers,
groups or organizations select,
buy, use, and dispose ideas,
goods, and services to satisfy
their needs and wants. It refers to
the actions of the consumers in
the marketplace and the
underlying motives for those
actions.
Marketers expect that by
understanding what causes the
consumers to buy particular
goods and services, they will be
able to determine—which
products are needed in the
marketplace, which are obsolete,
and how best to present the
goods to the consumers.
* Factors affecting the consumer behaviour
would be considered keeping in mind the
product chosen, i.e. Sofa, here.
5. Factors Affecting Consumer Behaviour
Social Factors
Social factors affect
consumer
behavior significantly.
Every individual has
someone
around influencing their
buying decisions. The
important social
factors are: reference
groups, family, role and
status.
01
Personal factors
Personal factors can
also affect the consumer
behavior. Some of them
are: lifestyle, economic
situation, occupation,
age, personality and self
concept. Age and life-
cycle have potential
impact on the consumer
buying behavior.
02
Psychological
Factors
There are
four psychological
factors that influence
consumer behaviour:
Motivation, perception,
learning, and attitude or
belief system. Motivation
speaks to the internal
needs of the consumer.
03
Economic Factors
Economic factors that
influence consumer
behaviour are: Personal
Income, Family income,
Income expectations,
Savings, Liquid
assets of the Consumer,
Consumer credit,
Other economic factors.
04
6. Individual Factors
There are various individual factors that affect consumer behaviour. In case of sofa the primary factors that
affect the consumer behaviour are:
1. Culture
2. Personality
3. Income
4. Family Size
5. Marital Status
6. Social class
7. Consumer knowledge
8. Consumer opinion
9. Advertisement
10.Goodwill of the Company
11.Social Environment
12.Technology
13.Competition in the Market
14.Availability of the substitutes
7. CULTURE
How will culture affect consumer behaviour of
buying a sofa?
Culture is an umbrella term which
encompasses the social behavior and
norms found in human societies, as well as
the knowledge, beliefs, arts, laws,
customs, capabilities, and habits of the
individuals in these groups. While
purchasing furniture like sofa, the choice
of consumer is strongly influenced with the
way he looks at the colour, style and fabric
of the sofa.
For example, in Indian cultures red, brown,
coffee colours (dark tones) are preferred
keeping in view the atmosphere,
temperature and legacy of the families. We
find that different parts of the world have
different bed designs and the designs of
these beds are usually heavily influenced
by the history and culture of that particular
geographical location. But, in contrast to
this, in European countries, light and cool
colours are preferred for sofa and other
furniture.
8. PERSONALITY
How will personality affect consumer
behaviour of purchase of sofa?
Personality is defined as the characteristic
sets of behaviors, cognitions, and emotional
patterns that evolve from biological and
environmental factors. While there is no
generally agreed upon definition of
personality, most theories focus on
motivation and psychological interactions
with one's environment. It plays a major role
in determining consumer behaviour patterns
regarding a product. Personality can be a
useful variable in analysing consumer
behaviour, provided that personality types
can be classified accurately and that strong
correlations exist between certain personality
types and product or brand choices.
For example, a person would go for bright
and shining colours and textures of fabrics
with an extrovert personality whereas, a
person with introvert personality keeps it
quite simple and light.
9. INCOME
How will income affect consumer behaviour
of purchase of sofa?
Income is the consumption and saving
opportunity gained by an entity within a
specified timeframe, which is generally
expressed in monetary terms. Income is a
very important factor
that affects the buying decisions
and consumer behavior of people. Across
different income levels, the difference in
product choices and buying patterns can
easily be marked.
For example, a person with higher income
level may consider more on designs,
material, fabric and qualities of the sofa
whereas a lower income group consumer
may focus more on affordability and utility.
10. FAMILYSIZE
How will family size affect consumer
behaviour of sofa?
Family size refers to the number of
persons in the family. It plays an
important role in affecting the consumer
buying decisions.
For example, while buying sofa people
focus on the size of the family as they
prefer to eat together or watch movie
together and so on. In case of nuclear
families, the size of the sofa is usually
smaller than that of a joint family’s. If
there are more members in the family, the
fabric and wood/metal used is usually of
strong and durable quality whereas if the
number is less, durability and design is
what is mainly focused upon.
11. MARITALSTATUS
How will marital status affect consumer
behaviour of sofa?
Civil status, or marital status, are the distinct
options that describe a person's relationship with
a significant other. Married, single, divorced, and
widowed are examples of civil status.
Surprisingly, a person if married or unmarried
also affects his/ her behaviour while purchasing
and sofa!
For example, if a person is married, then usually
when décor is changed or renovation is done,
sofa is something primarily that is affected by the
choice of new bride. Similarly, if the married
couple is staying individually they may prefer
small sofa and if they are staying with family,
then a large sofa is preferred. Another example,
is in the person is unmarried, the sofa is made or
bought according to his taste and preference,
sometimes may be only with his family’s choice!
12. SOCIALCLASS
How will social class affect consumer
behaviour of purchase of sofa?
A social class is a set of concepts in the social
sciences and political theory centered on models
of social stratification in which people are
grouped into a set of hierarchical social
categories, the most common being the upper,
middle and lower classes. Social classes are
directly and indirectly linked with the income of a
consumer. These also affect the consumer
behaviour.
For example, upper class people would be
comfortable spending on luxury items and
certainly their preference of a sofa would be
classy, stylish, and costly. Upper middle class
would focus on quality and durability of the
product whereas lower middle class looks at the
comfort and affordability. Working class would
merely focus on even buying a sofa and
underclass would be more than satisfied if they
get proper housing facilities only.
13. CONSUMER
KNOWLEDGE
How will consumer knowledge affect
consumer behaviour of purchase of sofa?
Most of the organisations have knowledge
about their customers but they do not try
to gain more insight into it and are
unaware of the customer expectations. So
to produce products and services according
to customer expectation and satisfy
customers companies should have
consumer knowledge. Consumer
knowledge can be both quantitative as well
as qualitative. Reports and data from CRM
system and also past sales data can provide
quantitative data which can form as
customer knowledge. This type of data can
be used for segmentation of customers
according to their past buying behaviors.
Since, a producer or manufacturer would
keep in mind the various considerations
and choices of a consumer, an individual
consumer is more likely to inclined towards
that brand. Sofa is a shopping product, a
buyer would approach only that seller who
is more promising and fulfills all his needs.
14. CONSUMEROPINION
How will consumer opinion affect consumer
behaviour of purchase of sofa?
The most important thing for the marketer is
to understand about the role of ‘opinion
leadership’ or ‘Consumer opinion’ in
marketing of goods and services as it is one of
the key determinants of consumer behaviour.
Opinion leadership which is otherwise known
as word of mouth communication is an
important personal influence on consumers.
With the proliferation of cell phone usage and
e-mail, many people are always available to
friends, family and business associates.
Message spreads like virus among people.
Opinion leaders offer advice or information
about a product, service and how a particular
product may be used. Words of mouth takes
place through personal or face to face
communication.
For example, while planning to buy a new
sofa, we may take advice from our friends,
relatives, colleagues etc. Their opinion would
definitely put an impact on our decision
making or choice of fabric or particular
furniture shops.
15. ADVERTISEMENT
How will Advertisement affect consumer
behaviour of purchase of sofa?
Advertisement means a notice or
announcement in a public medium
promoting a product, service, or event or
publicizing a job vacancy.
Since, sofa is a shopping product people
would go to specific markets in order to
buy it. But, today’s the generation of
advertisement and we can see that many of
the popular furniture companies or brands
promote their products to the fullest with
the help of fascinating advertisements.
For example, IKEA, Style Spa, EVOK, Godrej
Interio, and online brands such as
pepperfry, urbanladder, promote their
brands through various mediums.
16. GOODWILLOFTHE
COMPANY
How will Goodwill of the Company affect
consumer behaviour of furniture?
Goodwill is an intangible asset associated
with the purchase of one company by
another. The value of a company's brand
name, solid customer base, good
customer relations, good employee
relations, and any patents or proprietary
technology represent some examples
of goodwill. Certainly there is no doubt
that goodwill or the reputation of the
company plays an important role in
influencing the consumer behaviour. Sofa
is such a product for which the consumer
would like to search and buy accordingly.
If the company’s goodwill is good and
high, customer would prefer to go there
and shop of the particular type of sofa that
they want. And if not, they would not be
much interested for the same.
17. COMPETITIONINTHE
MARKET
How will competition in the market affect
consumer behaviour of furniture?
Competition is the rivalry between
companies selling similar products and
services with the goal of achieving revenue,
profit, and market share growth. Various
brands would try to present their products
as of the superior quality and so would
affect the consumer behaviour.
For example, a brand may give special
offers on the purchase of a premium sofa
set whereas another nearby showroom
does not.
18. AVAILABILTYOF
SUBSTITUTES
How will availability of substitutes affect
consumer behaviour of furniture?
In consumer theory, substitute
goods or substitutes are goods that a
consumer perceives as similar or
comparable, so that having more of one
good causes the consumer to desire less of
the other good. Formally, good is
a substitute for good if, when the price of
rises, the demand for rises. Substitutes may
have better choices, price, etc.
Sofa does not have a substitute but the
brands selling sofa have! IKEA, Style Spa,
EVOK, Godrej Interio, and online brands such
as pepperfry, urbanladder all have each other
as their competition with various substitutes.
Moreover we should not forget the local
sellers and carpentry firms as well.
19. Conclusion
Consumer behaviour for a particular
product varies from individual to
individual and situation to situation.
But there are a number of factors with
the that help determine what type of
consumer preferences prevail in a
society and how all the factors
actually impact the buying decision.