Professional Documents
Culture Documents
Consumer Behavior
Analysis
Meaning and Characteristics
• Consumer Behavior:
–Is the study of how individuals, groups & organisations
1.Consumer electronics.
Family
•Husband, wife, kids Social Factors
•Influencer, buyer, user
Lifestyle Identification
Activities Opinions
Interests
Factors Affecting Consumer Behavior:
Personal
l Age & Life-Cycle stages
l Age influence the goods & service the people buy over their
lifetime
l Family life cycle stages like youth(<18), Getting Started(18-
35), builders(35-50),Accumulators(50-60), preservers(>60)
l New categories evloved now such as unmarried couples,
same-sex couples, single parents, extended parents & so on
l Occupation
l Executives buy more formal suits
l Economic Situation
l A person's economic situation will affect product choice.
Factors Affecting Consumer Behavior:
Personal
Motivation
Learning
Factors Affecting Consumer Behavior:
Psychological
Psychological Factors
Motivation
• We all have many needs at any given time.
Self
Actualization
(Self-development)
Esteem Needs
(self-esteem, status)
Social Needs
(sense of belonging, love)
Safety Needs
(security, protection)
Physiological Needs
(hunger, thirst)
MOTIVATION
18
Characteristics Affecting Consumer Behavior
Psychological Factors
19
Characteristics Affecting Consumer Behavior
Psychological Factors
20
Characteristics Affecting Consumer Behavior
Psychological Factors
21
Characteristics Affecting Consumer Behavior
Psychological Factors
22
Types of Buying Decisions
High Low
Involvement Involvement
Significant Complex Variety-
differences Buying Seeking
between
brands Behavior Behavior
Few Dissonance- Habitual
differences
between Reducing Buying Buying
brands Behavior Behavior
Types of Buying Decisions
Need Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Postpurchase Behavior
DECISION MAKING PROCESSES
Need Recognition
Difference between an actual state and a desired state
• Hunger • TV advertising
• Thirst • Magazine ad
• A person’s normal • Radio slogan
needs
•Stimuli in the
environment
The Buyer Decision Process
Step 2. Information Search
Degree of Importance
Which attributes matter most to me?
Brand Beliefs
What do I believe about each available brand?
Evaluation Procedures
Choosing a product (and brand) based on one
or more attributes.
The Buyer Decision Process
Step 4. Purchase Decision
Purchase Intention
Desire to buy the most preferred brand
Attitudes Unexpected
of others situational
factors
Purchase Decision
The Buyer Decision Process
Step 5. Postpurchase Behavior
Consumer’s Expectations of
Product’s Performance
Product’s Perceived
Performance
Satisfied Dissatisfied
Customer! Customer
Cognitive Dissonance
Buying Roles
1. Initiator:
1. The person who identifies a need and first
suggests the idea of buying a particular
product or service.
2. Influencer:
1. The person(s) who influences the buyer in
making his final choice of the product.
3. Decider:
1. The person who decides on the final
choice: what is to be bought, when, from
where and how.
4. Buyer:
Buying motives
• Hunger
• Thirst
• Sleep
• Shelter
• Entertainment
Different buying motives
• Bargain
• Cleanliness
• Economical
• Fashion
• curiosity
Buying Motives
Product Buying Motives
Awareness
Interest
Evaluation
Trial
Adoption
Adoption of Innovations
Percentage of Adopters
Early
34% 34% Laggards
Adopters
13.5% 16%
2.5% Time of Adoption
Early Late
SIMPLE MODEL FOR CONSUMER BEHAVIOUR
Motives
Attitudes
Needs Consumer
Purchase
Business
Decision Learning
Family
Perception
Personality
Economic
Model of Consumer Behavior
Product Marketing and Economic
Other Stimuli
Price Technological
Place Political
Promotion Cultural
Buyer’s Characteristics
Decision Buyer’s Black Box Affecting
Process Consumer
Behavior