There are four main types of buying decision behavior:
1. Complex buying behavior involves high consumer involvement and significant brand differences for expensive, infrequent, or risky purchases like computers, TVs, or appliances.
2. Variety seeking behavior has low involvement but brand switching for variety with products like chips, soap, or ice cream.
3. Dissonance reducing behavior has high involvement for expensive items with little brand differences, causing post-purchase anxiety over alternative products.
4. Habitual behavior has low involvement and brand indifference for frequent, small purchases like milk, bread, or matches.
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
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
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.
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
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
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.
Consumer's Choice: Brand Choice and Store Choice factors, Post purchase dissonance, Product use and non-use, Product disposition, Satisfaction and Dissatisfaction, Consumer Complaint Behavior, Satisfaction and Brand Loyalty, Strategic implications of post purchase behavior
Consumer's Choice: Brand Choice and Store Choice factors, Post purchase dissonance, Product use and non-use, Product disposition, Satisfaction and Dissatisfaction, Consumer Complaint Behavior, Satisfaction and Brand Loyalty, Strategic implications of post purchase behavior
Assignment needs to make sure it relates to this week’s readings a.docxrock73
Assignment needs to make sure it relates to this week’s readings and lecture. The assignment also needs demonstrate an understanding of lesson concept and clearly present well-reasoned ideas and concepts.
Consumer Decision Making
Welcome class to week six of the course, we only have three weeks left to go, yeah. We have officially covered over the last five weeks the foundations of what marketing is, along with discussing in depth the elements (four P’s) of the marketing mix. This week, we are going to discover what I like to call the fifth P of the marketing mix, “people.” We are going to learn all about the consumer this week and the vital role “People,” also known as the consumers play within the wonderful world of marketing. Let’s not waste anymore time and jump right into the role of a consumer.
The Importance of Understanding Consumer Behavior
Consumers’ product and service preferences are constantly changing. Marketing managers must understand these desires in order to create a proper marketing mix for a well-defined market. So it is critical that marketing managers have a thorough knowledge of consumer behavior. Consumer behavior describes how consumers make purchase decisions and how they use and dispose of the purchased goods or services. Understanding how consumers make purchase decisions can help marketing managers know how to meet the demands, needs, and criterion of the consumer.
The Consumer Decision Making Process
When buying products, particularly new or expensive items, consumers generally follow the consumer decision-making process, a five-step process used by consumers when buying goods or services. The five steps of the consumer decision-making process are: (1) need recognition, (2) information search, (3) evaluation of alternatives, (4) purchase, and (5) post-purchase behavior.
These five steps represent a general process that can be used as a guide for studying how consumers make decisions. It is important to note, though that consumers’ decisions do not always proceed in order through all of these steps. In fact, the consumer may end the process at any time or may not even make a purchase. Let’s discuss the five steps of the consumer decision-making process in greater detail.
1. Need Recognition
The first stage in the consumer decision-making process is need recognition. Need recognition is the result of an imbalance between actual and desired states. The imbalance arouses and activates the consumer decision-making process. Need recognition is triggered when a consumer is exposed to either an internal or an external stimulus, which is any unit of input affecting one or more of the five senses: sight, smell, taste, touch, and hearing.
Internal stimuli are occurrences you experience such as hunger or thirst. External stimuli are influences from an outside source such as someone’s recommendation of a new restaurant, the color of an automobile, the design of a package, a brand name mentioned by a friend, or a ...
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.
Consumer behavior is “the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services.
Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour”.
we conducted this research for our course Analysis of Pakistani Industry. this research was conducted to find out growth and performance of banking sector of Pakistan.
Impact of Thar Coal on Electricity Generation & Economic Growth of PakistanSandeep Kumar
This project is given in course; Pakistan Economic Policy. This report is about issue in energy sector of Pakistan, sources of electricity generation used by Pakistan, wrong fuel choice, comparing electricity generation from coal with other countries, demand & supply gap, national cause of load shedding, economic impact of electricity deficit. This report contain information how thar coal van solve problem of electricity gap along with its social & economic benefits, and annual saving in foreign exchange.
This report contain details about HR department of CCBPL. This report contains Introduction, Vision, Mission, Core values, Goals, Slogan of Coca-Cola Beverages Pakistan Limited. Along with that, it contain Recruitment and Selection process of Coca-Cola.
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
Digital Money Maker Club – von Gunnar Kessler digital.focsh890
Title One is a comprehensive examination of the impact of digital technologies on
modern society. In a world where technology continues to advance rapidly, this article delves into the nuances and complexities of the digital age, exploring Its implications across various sectors and aspects of life.
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.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
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.
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.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
5. Complex buying behavior
When the consumers are highly involved in a purchase and observe significant differences between
the brands then the consumers undertake complex buying behavior.
In complex buying behavior the commodity displays many features and characteristics like;
1. Expensive, a lot of money must be paid by the purchaser to acquire the product.
2. Purchase is made once in a while i.e a lot of time passes before the consumer buys the commodity
again.
3. Very risky because of the high price tag involved. If the item fails to function or serve its intended
purpose, the buyer incurs losses.
Examples of Products that Exhibit Complex Buying Behavior
• Shopping for a computer or laptop
• Buying of a television set
• Purchase of a microwave
• Purchasing a fridge
6. Variety seeking buying behavior
It can be described as the buying tendencies of those consumers that do not
have a high involvement with a product when there is a significant difference
between brands.
Brand switching is common
Attract consumer by offering free samples, low prices and special discount.
Brand switching occur for the sake of variety rather than dis-satisfaction.
Examples: chips, soap, shampoo, ice-cream etc.
7. Dissonance reducing buying behavior
Dissonance-reducing buying behavior occurs when customers are highly
involved with a rather expensive, infrequent or risky purchase but see little
difference among brands
In dissonance reducing buying behavior consumer involvement is very high du
e to high price and infrequent purchase with less significance differences amo
ng brands. In this case buyer purchases the product which is easily available.
After the product purchase, consumers may face dissonance post purchase
behavior.
Post purchase dissonance occurs when consumer notices certain dis-
advantages of the purchased product or hear favorable things about a product
that is not purchased.
Example: laptop, buying carpet, paint, curtain etc.
8. Habitual buying behavior
It refers to situations where a consumer has low involvement in a purchase,
and is perceiving very few significant differences between brands in a given
product category.
This may also be due to fact that customer finds the product best fit for his use
and keeps on buying it without looking for alternative.
Purchase are frequent.
Example: salt, milk, bread, match box or lighter,
10. Need recognition
First and most important step.
Without the recognition of the need, a purchase can not take
place.
The need can be triggered by:
Internal stimuli: such as hunger, thirst etc.
External stimuli: such as advertisement, magazine ads,
environment etc.
Maslow held that needs are arranged in hierarchy.
According to Maslow hierarchy, only when a person has fulfilled
the needs at a certain stage, can he or she move to next stage.
Importance:
• Reveal barriers to success
• Provide a starting point for a new business.
11. Information search
It is second stage in which consumer searches for internal
and external information.
Sources of Information:
Personal sources—family and friends
Commercial sources—advertising, Internet
Public sources—mass media, consumer organizations
Experiential sources—handling, examining, using the
product
12. Evaluation of alternative
Evaluation procedure depends on the
consumer and the buying situation.
How the consumer processes information to
arrive at brand choices
Most buyers evaluate multiple attributes, each
of which is weighted differently.
At the end of the evaluation stage, purchase
intentions are formed.
13. Purchase decision
• The buying decision process is the decision-making
process used by consumers regarding market
transactions before, during, and after the purchase
of a good or service.
Two factors intercede between purchase
intentions and the actual decision:
Attitudes of others
Unexpected situational factors
Three possibilities of purchase decision:
From whom to buy(policy, sales, past experience)
When to buy(time, atmosphere)
Don’t buy
14. Post purchase behavior
Post-Purchase Behavior is the stage of the Buyer Decision Process when
a consumer will take additional action, based purely on their satisfaction
or dissatisfaction.
The larger the gap between expectation and performance, the greater
the consumer’s dissatisfaction
Satisfaction is important:
Delighted consumers engage in positive word-of-mouth.
Unhappy customers tell on average 11 other people.
It costs more to attract a new customer than it does to retain an existing customer.
15. Buyer Decision Process for New Products
Adoption process is the mental
process an individual goes
through from first learning about
an innovation to final regular
use.
Stages in the process include: