Download - Consumer behavior defined ravs!
CONSUMER BEHAVIOR: THE PSYCHOLOGY OF MARKETING
Ravneet Bhangu
Definition
AMA says………………
“Consumer Behavior is the dynamic interaction of affect
and cognition, behavior, and the environment by
which human being conducts the exchange aspects of
their lives”
Made by: Ravneet Bhangu
Simply put …………
Consumer behaviour is the study of when, why, how, and where people do or do not buy product.
Made by: Ravneet Bhangu
Why to study this?
• The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers);
• The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media);
• The behavior of consumers while shopping or making other marketing decisions;
• Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;
• How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and
• How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.
Made by: Ravneet Bhangu
Consumer Vs Customer
Consumer
One that consumes, especially one that acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing.
Customer
One that buys goods or services.
Made by: Ravneet Bhangu
Few Consumer Behavior Roles
Consumer
Initiator
Gatekeeper
Influencer
Decider
Buyer
User
Made by: Ravneet Bhangu
Disciplines Involved in CB
Psychology
Sociology
Social Psychology
Cultural Anthropology
Economics
…………………………many more!
Made by: Ravneet Bhangu
Applications:
• Marketing Strategy
• Public Policy
• Social Marketing
• Customer Service
Made by: Ravneet Bhangu
Made by: Ravneet Bhangu
THANK YOU!!
Made by: Ravneet Bhangu