consumer attitude towards hyundai-verna

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Mahatma Gandhi said a customer is the most important visitor in our premises. He is not dependent on us, we are on him. He is not an interruption to our work; he is the purpose of it.

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CONSUMER ATTITUDE TOWARDS HYUNDAI-VERNA

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CONSUMER ATTITUDE TOWARDS HYUNDAI-VERNA

I CHAPTER

An eye for an eye will make the whole world blind.- Mahatma Gandhi

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CONSUMER ATTITUDE TOWARDS HYUNDAI-VERNA

INTRODUCTION1.1 General introduction

1.2 Specific introduction

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INTRODUCTION

General-Introduction:Consumer:The "consumer" is the one who consumes the goods and services produced. As such, consumers play a vital role in the economic system of a nation because in the absence of the effective demand that

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emanates from them, the economy virtually collapses. Mahatma Gandhi said a customer is the most important visitor in our premises. He is not dependent on us, we are on him. He is not an interruption to our work; he is the purpose of it. Typically when business people and economists talk of consumers they are talking about person as consumer, an aggregated commodity item with little individuality other than that expressed in the buy/not-buy decision. However there is a trend in marketing to individualize the concept. Instead of generating broad demographic profiles and psychographic profiles of market, marketers have started to engage and mass

in personalized customization.

marketing, permission

marketing,

There is increasing backlash from the public over use of the lbel "consumer" rather than "customer", with many finding it offensive and derogatory. In economics, consumers are individuals or households that "consume" goods and services generated within the economy. Since this includes just about everyone, the term is a political term as much as an economic term when it is used in everyday speech. Typically when businesspeople and economists talk of "consumers" they are talking about person-asconsumer, an aggregated commodity item with little individuality other than that expressed in the buy/not buy decision. However there is a trend in marketing to individualize the concept. Instead of generating

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broad demographic and psychographic profiles of market segments, marketers are engaging in personalized, permission marketing, and mass customization. In standard microeconomic theory, a consumer is assumed to have a budget which can be spent on a range of goods and services available on the market. Under the assumption of rationality, the budget allocation is chosen according to the preference of the consumer, i.e. to maximize his or her utility function. In time-series models of consumer behaviour, the consumer may also invest a proportion of their budget in order to gain a greater budget in future periods. This investment choice may include either fixed rate interest or risk-bearing securities. In the context of mental health, consumer is also a term applied to describe a person living with mental illness. Concern over the best interests of consumers has spawned

much activism, as well as incorporation of consumer education into the school curriculum. One non-profit publication active in consumer education is Consumer Reports. Within many selling companies "consumer" has come to be a derogatory term which means a "purchaser of products who is not very intelligent." This is in contrast to the meaning of customer, which is defined as "an

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intelligent purchaser who has power in the purchasing relationship between buyer and seller."

Consumer Attitude:Through the application of sociology, psychology and demographics, marketers can begin to understand why consumers form attitudes and make decisions to purchase. Consumer-behaviour studies inform

marketers, advertisers and public agencies how product and service selection is influenced by personality, perception, values and beliefs. For marketing, these influences are studied in the context of demographics, which includes ethnicity, age,marital status, size of family ,

income, education and employment.

Perception: Perception is how information is collected and categorized. Perception is affected by the amount of exposure to a stimulus and by individual interpretation. For example, a consumer who hears--once--that dairy herds contribute to greenhouse gas would not take the statement seriously. If the same consumer encountered that information often and from many sources, then the consumer's attitude toward dairy products

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might change enough to influence how often the consumer chose yogurt as a breakfast food.

Personality: Personality is a weak component of consumer behaviour. Personality means a pattern of behaviour founded on an individual's outlook and internal traits. In this use, outlook means point-of-view and traits mean the consumer's usual manner of responding to the environment. An example of outlook is the effect of a recessionary economy on consumer confidence. Examples of traits are introversion or extroversion, ambition or complacency, aggressiveness or timidity and compulsiveness or pragmatism. A consumer whose decision to purchase is influenced by extroversion or compulsiveness, might choose to be less innovative during an economic downturn because confidence is lower. Values: Values are the consumer's set of standards about conduct that arise from learned culture. A "terminal value" is a long-term goal or role model, as when a consumer strives for a particular lifestyle, such as healthful diet and exercise. An "instrumental" value is a flexible and negotiable action

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that is exercised daily, such as when a consumer makes a decision to purchase either organic or nonorganic products.

Beliefs: In consumer behaviour study, "beliefs" are specific beliefs about products in the marketplace. Consumer belief is a combination of knowledge, emotions and actual actions to purchase or not purchase. For example, if a consumer has a negative or prejudiced set of beliefs about Yugoslavia, then marketing an automobile manufactured in Yugoslavia would have to focus on changing those beliefs. Attitude: Consumer attitude is a combination of perceptions, values and beliefs. The consumer must first perceive the product and then focus values and beliefs onto the product and make a decision to purchase or not to purchase. Beliefs are more vulnerable to marketing than values are, because beliefs are subject to knowledge and emotion. For example, positive facts can inform a consumer's knowledge about automobile manufacturing in Yugoslavia. A marketer might decide what

demographic group can best afford a Yugoslavian automobile and then

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generate positive emotion by associating the automobile with music toward which that demographic group feels positive.

Consumer Behaviour:Consumer behaviour is the study of when, why, how, and where people do or do not buy a product. It blends elements

from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. Customer behaviour study is based on consumer buying behavior, with the customer playing the three distinct roles of user, payer and buyer. Relationship marketing is an influential asset for customer behaviour analysis as it has a keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of the importance of the customer or buyer. A greater importance is also placed on consumer

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retention,

customer

relationship

management,

personalisation,

customisation and one-to-one marketing. Social functions can be categorized into social choice and welfare functions. Each method for vote counting is assumed as social function but if Arrows possibility theorem is used for a social function, social welfare function is achieved. Some specifications of the social functions are decisiveness, neutrality, anonymity, monotonicity, unanimity,

homogeneity and weak and strong Pareto optimality. No social choice function meets these requirements in an ordinal scale simultaneously. The most important characteristic of a social function is identification of the interactive effect of alternatives and creating a logical relation with the ranks. Marketing provides services in order to satisfy customers.

Specific- Introduction:An automobile, motorcar or car is a wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor. Most definitions of the term specify that automobiles are designed to run primarily on roads, to have seating for one to eight people, to typically have four wheels, and to be constructed principally for the transport of people rather than goods. The term motorcar has also been used in the context of electrified rail systems to denote a car which functions as a small locomotive but also provides space for passengers and

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