consumer, consumer market, consumer behaviour, need to study consumer behaviour, factors affecting consumer behaviour, theories of motivation

1. NATURE AND FACTORS
INFLUENCING
CONSUMER MARKET
Presentation By:
Apurv kumar maurya

2. WHAT IS CONSUMER MARKET?
The consumer market pertains to
buyers who purchase goods and
services for consumption rather than
resale.
However, not all consumers are alike
in their tastes, preferences and buying
habits due to different characteristics
that can distinguish certain consumers
from others.

3. CONSUMER BEHAVIOR
 Consumer behavior is the study of how
individuals, group, and organizations select, buy,
use, and dispose of goods, services, ideas, or
experiences to satisfy their needs and wants.
Broader view of consumer behavior
 It encompasses all of the behavior that
consumer displays in searching for , purchasing,
using, evaluating and disposing of product and
services.

4. WHY STUDY CONSUMER BEHAVIOR?
 To emerge as a winner in highly
competitive environment.
 To implement properly the modern
marketing concept in action.
 To be able to predict consumer response
in case of new services.
 To develop data bank related to consumer
behavior and make it their competitive
edge.

5. Factors
Influencing
Consumer
Behavior
Cultural
Social
Personal
Psychological
Factors Affecting Consumer Behavior

6. CULTURAL FACTORS
 Culture is the fundamental determinant of a
person’s wants and behavior.
 Marketers must closely attend to cultural
values in every region to understand how to
best market their existing products and find
opportunities for new products.

7. Cultural
Factors
Culture
Sub-
Culture
Social
Class
Factors Affecting Consumer Behavior

8. Cultural
Factors
Culture
Sub-
Culture
Social
Class
Culture
The set of
basic values,
perceptions,
want and
behavior by a
member of
society from
family and
other
important
institution.
Factors Affecting Consumer Behavior

9. Cultural
Factors
Culture
Sub-
Culture
Social
Class
Sub-Culture
A group of
people with
shared value
system based
on common
life
experiences
and situation.
Factors Affecting Consumer Behavior

10. Cultural
Factors
Culture
Sub-
Culture
Social
Class
Social class
Relatively
permanent and
ordered
divisions in a
society whose
members share
similar value,
interests and
behavior.
Factors Affecting Consumer Behavior

11. SOCIAL FACTORS
 The Social Factors are the factors that are
prevalent in the society where a consumer
live in.
 The society is composed of several
individuals that have different preferences
and behavior. These varied behaviors
influence the personal preferences of the
other set of individuals as they tend to
perform those activities which are
acceptable to the society.

12. Social
Factors
Reference
group
Family
Roles and
Status
Factors Affecting Consumer Behavior

13. Social
Factors
Reference
group
Family
Roles and
Status
Reference
groups
A person’s
reference group
consists of all
the groups that
have a direct
(face-to-face) or
indirect
influence on
his/her attitudes
or behavior.
Factors Affecting Consumer Behavior

14. Social
Factors
Reference
group
Family
Roles and
Status
Family
Marketers are
interested in
the roles, and
influence of the
husband, wife
and children on
the purchase of
different
product and
services
Factors Affecting Consumer Behavior

15. Social
Factors
Reference
group
Family
Roles and
Status
Roles and
status
A role consists
of the
activities
people are
expected to
perform
according to
persons
around them.
Each role in
turn connotes
a status.
Factors Affecting Consumer Behavior

16. PERSONAL FACTORS
 Personal factors have the most affect on the
consumer buying behavior.
 Personal characteristics that influence a
buyer’s decision include age and stage in
the life cycle, occupation and economic
circumstances, personality and self-concept,
and lifestyle and values. Because many of
these have a direct impact on consumer
behavior, it is important for marketers to
follow them closely.

17. Factors Affecting Consumer Behavior
Personal
Factors
Age and Life
cycle
Occupation &
Economic
Situation
Personality
and Self-
Concept
Life Style

18. Personal
Factors
Age and Life
cycle
Occupation &
Economic
Situation
Personality
and Self-
Concept
Life Style
Age and life
cycle
Needs and
consumption
pattern of
people vary
with
advancement
in age.
Factors Affecting Consumer Behavior

19. Personal
Factors
Age and Life
cycle
Occupation &
Economic
Situation
Personality
and Self-
Concept
Life Style
Occupation &
Economic Situation
Marketers try to
identify the
occupational group
that have the above-
average interest in
their product and
services.
A person’s economic
situation will affect
product and service
choice.
Factors Affecting Consumer Behavior

20. Personal
Factors
Age and Life
cycle
Occupation &
Economic
Situation
Personality
and Self-
Concept
Life Style
Personality
and Self-
Concept
•Sincerity
•Excitement
•Competence
•Sophistication
•‘Ruggedness
Factors Affecting Consumer Behavior

21. Personal
Factors
Age and Life
cycle
Occupation &
Economic
Situation
Personality
and Self-
Concept
Life Style
Life Style
Lifestyle is an
individual’s way
or pattern of
living which is
reflected in his
activities,
interest and
opinions.
Factors Affecting Consumer Behavior

22. PSYCHOLOGICAL FACTORS
 The marketers' task is also to understand
what happens in the consumer’s
consciousness between the arrival of the
outside marketing stimuli and the ultimate
purchase decision.
 The psychological factors are the factors
that talk about the psychology of an
individual that drive his actions to seek
satisfaction.

23. Factors Affecting Consumer Behavior
Psychological
Factors
Motivation
Perception
Learning
Beliefs

24. Factors Affecting Consumer Behavior
Psychological
Factors
Motivation
Perception
Learning
Beliefs
Motivation
A need becomes
a motive, that is
sufficiently
pressing to direct
the person to
seek satisfaction
of the need.
•Maslow’s theory
•Herzberg’s
Theory
•Freud’s theory

25. THEORIES OF MOTIVATION
 Sigmund Freud’s
motivation theory explains
how a consumer’s decisions
to buy a product or not
depends on their
unconscious desires and
motivators. Observing how
the various aspects of a
product can trigger
emotional response from a
consumer can help a
marketer identify ways to
lead a consumer towards
making a purchase
decision.
 Herzberg’s Motivation
Theory model, or Two
Factor Theory, argues that
there are two factors that
an organization can adjust
to influence motivation in
the workplace. The two
factors identified by
Herzberg are motivators
and hygiene factors. The
presence of motivators
causes employees to work
harder. They are found
within the actual job itself.
The absence of hygiene
factors will cause
employees to work less
hard.

26.  Maslow's hierarchy of
needs is a motivational
theory in psychology
comprising a five-tier model
of human needs, often
depicted as hierarchical
levels within a pyramid.
 From the bottom of the
hierarchy upwards, the
needs are: physiological,
safety, love and belonging,
esteem and self-
actualization. Needs lower
down in the hierarchy must
be satisfied before
individuals can attend to
needs higher up.

27. Factors Affecting Consumer Behavior
Psychological
Factors
Motivation
Perception
Learning
Beliefs
Perception
The process by
which people
select, organize
and interpret
information to
form a
meaningful
picture of world.

28. Factors Affecting Consumer Behavior
Psychological
Factors
Motivation
Perception
Learning
Beliefs
Learning
The process
by which
individuals
change their
behavior after
they
experience a
product.

29. Psychological
Factors
Motivation
Perception
Learning
Beliefs
Beliefs
A descriptive
thought or
conviction that
a person holds
about
something.
Factors Affecting Consumer Behavior