Consumer Behavior

Introduction

Consumers make choices and decisions in by going through a several of steps before

buying the desired product or service. This process is called "consumer behavior". This

includes asking, perception and considering several factors before buying. This includes

demand, necessity, setting goal, and making choices to buy a product. Consumer

behavior is very important in deciding the marketing strategy. (Torrie,2012)

According to Strydom & Chales (2010) marketers and companies analyze and

recognise consumer behavior factors like how different factors affects consumers, how

they feel product and how to present the product to consumer. As per Raaj (2011)

customers buy and consumer products based on to their buying personality, buying

capacity, age and their personal preferences. Consumers explore into their

requirements, look into various aspects and take decisions to accomplish their need.

Various factors have different impact on purchase of different goods..

Product under investigation

Xgenx HandyScann is a feature packed compact and portable handy scanner. It can be

run on 2 AA batteries. The scanner can scan 600dpi resolution image in both color and

black and white. This is useful in day to day scanning work at home and office. It is

suitable to scan any book and paper upto size of A4. The main feature is that this is

bundled with Optical Character Reader (OCR) software which gives ease of copying

and using scanned text.

Objective

The objective of this article is to understand the consumer behavior and motivation

process. Also analysis of consumer behavior and sources of information for purchase of

HandyScann Scanner.

The Company

Established in 1990, Xgenx company has made long journey for success in scanner

and printer manufacturing. Xgenx is known for unique design and concepts in its

machines. Company had manufactured HandyScann product. Company’s research and

development team strives for new concepts and inventions. As part of their new concept

company designed a handyscann with unique features. A major breakthrough in

scanning industry and a concept discussed and tried for long time.

Factors Affecting consumer behavior

Occupation And Income: 

A person’s job and income has direct impact on that person’s buying decisions. Apart

from this, occupation and wealth influences status and reputation in the society. This

occupation also decides brand, quality and type of product one would like to purchase.

Designation and occupation like employed, businessman or student will influence

people to go for costly or economic type of products. Britt (2012)

In the light of above literature it can be said that HandyScann can be easily purchased

by any designation or income group person. The requirements seems to be part of

everyone and the economic cost and has to make it easily accessible to anyone

interested to buy. The pricing should be optimum make every income group customer

feel less worry in buying the scanner.

Life Style: 

The lifestyle of a person is reflected in his personality and self-conceptions. It is

important to understand what a life-style is formed of. It reflects an individual’s manner

and way of livelihood as known by his actions, hobby and attractions. Knowing this is

really very important in aiming or pursuing customers based on lifestyle classification.

Hoyer(2010).

This trait can be applied in targeting our customers. Especially brand conscious

customers who are looking for stylish and feature packed products can easily be

targeted. Xgenx is a well-known brand and can be certainly accepted by customers of

high life style. The advertisement campaign and promotion banners should represent

lifestyle and related aspects to connect brand with all types of life styles.

Age and Life Cycle

Age and life cycle define sequence of phases in which different views, behavioral trends

progress and happen as result of increasing experience and age. It is preferred to focus

on consumers classified on lifecycle. Different age group will have varying preferences.

Often the product shape, color and style will be targeted to a particular age group.

(Damayanti, 2012).

This factor can be applied in deciding color and design of the product. This scanner is

useful to all age groups hence the design, color and packing should be slightly varying

to attract all. The packing and colors should be stylish bright and subtle as well. The

promotion should indicate that it useful for all ages.

Economic Conditions

One of the main factor in buying decisions is economic condition or availability of funds.

Generally an individual with extra surplus income will purchase premium goods than

person having comparatively lower income. What and how a consumer purchases

shows the economic condition of that specific individual. This is also called purchase

power of consumer. Hence marketers and companies decide prices targeting different

economic groups. (Britt, 2012).

While considering for HandyScann it should be prices so as to meet requirements of

middleincome group customer who usually feel more need for such scanning some

quick documents. Obviously hig income group customer will also go for it. Customer

who look into economy product with more eatures will definitely go for this and can be a

huge success

Personality

Personality of a person influences or impacts on buying behavior. This attribute makes

an individual appear different and distinct from others. These attributes include

authority, self-possession, independence, assertiveness, friendliness and adaptability. It

is a distinct psychological trait that results in to reasonably reliable reactions to

surroundings of that individual. Personality. Customers usually buy goods or brands that

are upto their personalities and use goods or brands as a means of self-expression.

(Carolyn, 2011)

Conclusion

People, businesses and individuals look, buy and consume a product by a company,

they are called as consumers. Consumer behavior is a series of behaviors by these

consumers so as to finalise to purchase goods to satisfy their needs. Wishes and

demands inspire consumer to set priorities, decide and buy a product. At first an

individual thinks and decides what goods will suit according to his social status, income

and personal goals. Later he selects the products that give better value and usefulness

to the amount he is spending. (Raaj, 2011).

Making the policy considering factors impacting consumer behavior can be positively

effective and useful. Product promotion and sale should be designed around them to

make a product success.

References

Britt, I. (2012). Strategies for Diversification. Harvard Business Review , 5.

Carolyn B. (2011), Principles of Marketing, Melbourne: Juta and Company Ltd

Cohen, (2013), "Consumer Behaviour And Marketing Action", NY; John Wiley & Sons,

Inc.

Damayanti, D. (2012). Industry Update. Second Edition, Tata McGraw-Hill, Delhi.

Hoyer, W. D. (2010). Consumer Cocreation in New Product Development. Journal of

Service Research , 1-14.

Kotler, Phillip & Amstrong Gary (2008). Principle of Marketing, 12th edition. New

Jersey: Prentice Hall.

Raaj, F. V. (2011). Motivational Needs and Consumer Behavior. Harvard Faculty

Working Paper, 13-27

Strydom F. ,& Chales I (2010), Consumer Classifications: Business Promotion in 3rd

World, Journal of Consumer Research, 37

Torrie M,( 2012), Toward an Understanding of Consumer Behavior, Journal of

Business Science, 32,8 p13