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consumer behaviour introd

Consumer behavior is the study of the decision-making process of individuals and groups regarding the purchase of products, focusing on customer satisfaction. It encompasses various factors influencing buying motives, including psychological, social, personal, cultural, economic, and environmental aspects. Understanding consumer behavior is crucial for businesses to develop effective strategies, avoid market failures, and adapt to changing consumer preferences.

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1 views

consumer behaviour introd

Consumer behavior is the study of the decision-making process of individuals and groups regarding the purchase of products, focusing on customer satisfaction. It encompasses various factors influencing buying motives, including psychological, social, personal, cultural, economic, and environmental aspects. Understanding consumer behavior is crucial for businesses to develop effective strategies, avoid market failures, and adapt to changing consumer preferences.

Uploaded by

Soujanya Lk
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONSUMER BEHAVIOUR

Consumer Behaviour
 Consumer Behavior is the study of when, why, how
and where people do or do not buy a product. It
basically depends on the psychology of the
consumer. It attempts to understand the buyer
decision making process both individually & in
groups. It studies the individual consumers such as
demographics & behavioural aspects to
understand the people’s wants.
 In the study of Consumer Behaviour main focus is
the customer satisfaction because customer is the
only person with whose presence businesses
actually exists
Types of consumer

Consumer

Ultimate
Buyer Customer
Consumer

Institutional
Buyer
 Consumer: According to International Dictionary of
Management “Consumer is a purchaser of goods
and services for immediate use or consumption”.
 Buyer: He is the person who purchase goods either
for resale or for use in production or for use of
somebody else.
 Customer: He is the one who purchases goods for
his own use or for the use of others or else he is
regular customer of a particular product and he
is a regular customer of particular shop.
 Institutional buyer: These are either govt. institutions
or private organizations.
Characteristics of consumer behaviour

 It is a process where consumer decide what to buy, when to


buy, how to buy, where to buy & how much to buy.
 It comprises of both mental and physical activities of
 consumer.
Consumer behaviour is very complex and dynamic which
 keeps on changing constantly.
Individual buying behaviour is affected by various internal
factors like his needs, wants, attitudes & motives and also by
external factors like social groups, culture , status,
 environmental factors etc.
Consumer behaviour starts before buying and even after
buying.
Importance/Need of study of consumer
behaviour

 To make better strategies for increasing profits.


 To take into consideration customer’s health,
hygiene & fitness.
 To know the buying decisions and how
consumer make consumption.
 Consistent change in Consumer’s tastes or
preferences.
 Consumer behavior study is necessary to make
pricing policies.
 To avoid future market failures.
Types of Consumer
Behaviour

Dissonance
Complex Variety seeking
Reducing

Habitual
Buying Motives

According to D.J.Ducan, “Buying Motives


are those influences or considerations which
provide the impulse to buy, induce action or
determine choice in the purchase of goods
and services”.
Types of Buying Motives
A. Product & Patronage Motives
1.Product Motives
 Primary
 Secondary
2. Patronage
 Motives
 Price
 Quality
 Location

 Services
Variety
B. Emotional & Rational Motives
1. Emotional Motives
 Love of others
 Social acceptance motive
 Vanity Motive
 Recreational motive
 Emulate motive
 Comfort &
convenience
2. Rational motive
Motives
 Monetary gain
 Efficiency in operation
 Dependability
C. Inherent & Learned motives
1. Inherent motives are those which come from
physiological & basic needs such as hunger,
thirst, sleep etc. If these motives are not
satisfied then consumer feels dissatisfied and
feels mental tension.
2. Learned motives are those which are
learned or acquired by a person from
environment and education like social status,
acceptance, fear, security etc.
D. Physiological & Social buying
Motives

1. Physiological motives are those which are


driven by learning, perception or attitude.
2. Social buying motives are those which are
influenced by the society in which the
consumers live.
CONSUMER DECISIONS:
Theory and Reality in Consumer Buying

PROBLEM
RECOGNITI IDENTIFICATION
ON/ OF
Recognition ALTERNATI
of VE/
unsatisfied INFORMATI
EVALUATION
need ON
OF SEARCH
ALTERNATIV
PURCHA
ES
SE
POSTPURCH
ASE
EVALUATION/
BEHAVIORS
Factors influencing consumer
behaviour

 Psychological factors  Social Factors


1. Consumer needs & 1. Reference group
motivation (Maslow’s need 2. Role and status
hierarchy theory
3. Family
2. Perception  Personal factors
3. Learning
1. Age
4. Beliefs & attitudes
2. Stages in life cycle
 Cultural factors
3. Occupation in economic
1. Culture
status
2. Sub culture
4. Life style
3. Social class 5. Personality
 Economic factors  Environmental
1.Personal income Factors
2.Family income 1.Political situation
3.Income expectations 2.Legal forces
4.Savings 3.Technological
5.Liquidity position advancement
6.Consumer 4.Ethical
credit considerations

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