Consumer Behavior entails in totality the consumer’s decisions involved in acquiring, consuming and disposing of goods and services as well as making use of experience and ideas.

CONSUMER  BEHAVIOUR

Those activities directly involved in obtaining , consuming and disposing of products and services, including the decision processes that precede and follow these actions

What is Consumer Behaviour?

Defining Consumer Behavior

Consumer Behavior is the Process Involved When Individuals or Groups Select, Use, or Dispose of Products,

Services, Ideas or Experiences (Exchange) to Satisfy Needs and

Desires.

The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.

Consumer Behavior

“MEET THE NEW CONSUMERand smile when you do because she is your boss. It may not be the person you thought you knew. Instead of choosing from what you have to offer, she tells you what she wants. You figure it out how to give it to her.”-Fortune Editor

Shorter Product Life CycleEvolving Consumer preferenceEnvironmental concernsChanging life styleFaster technology adoption

Need for understanding CB

Surf Excel – Daag Acche HaiBranded Jewellery by Tanishq

Kellogg’sCrystal PepsiBajaj auto ltd.

Live Examples

Consumer Buying Behavior

Marketplace has become very competitiveGlobalization of hospitality and travel industryAggressive competitionInvest in research, learn consumer trends,

preferences, how they but, what they buyThe central question for marketers is:

“How do consumers respond to various marketing efforts the company might use?”

Marketing and

Other Stimuli

MarketingProduct

PricePlace

PromotionOtherEconomic

TechnologicalPoliticalCultural

Buyer’s Black Box

Buyer Responses

Product ChoiceBrand ChoiceDealer choice

Purchase TimingPurchase Amount

Model of Buyer Behavior

Buyer Decision Process

Buyer Characteristics

Marketing stimuli (product, price, place, promotion)

Other stimuli (economic, technological, political, cultural)

Buyer’s black box (buyer characteristics and buyer decision process)

Buyer’s responses (product choice, brand choice, dealer choice, purchase timing, purchase amount)

A Model of Consumer Behavior

Social

Referencegroups

Family

Rolesandstatus

Personal

Age andlife-cycleOccupationEconomicsituationLifestylePersonalityandself-concept

Psycho-logicalMotivationPerceptionLearningBeliefs andattitudes

Buyer

Culture

Sub-culture

Social class

Culture

Sub-culture

Social class

Cultural

Factors Influencing Consumer Behavior

Status Symbol

Gender—Targeting  the  male

Age—Targeting  the  youth

Influence  of  Family

Targeting  on  the  basis  of  Culture

PsychologicalFactors

AffectingBuyers Choices

Motivation

Perception

Learning

Beliefs andAttitudes

Psychological Factors