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CONSUMER BEHAVIOUR
Consumer behaviour is the study of people who do or do not buy a product by taking into consideration the following elements:
Therefore a sound understanding of consumer behaviour is essential for the long run success of any marketing program. Customer behaviour study is based on consumer buying behaviour, with the customer playing the three distinct roles of user, payer and buyer.
FORTUNE EDITOR
MEET THE NEW CONSUMER and 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.
formula
B = f (P, E)
As per Boone and Kurtz, consumer behaviour is the outcome of both individual and environmental factors
Low-cost Airlines - Taking Indian Aviation by Storm* Dove - Campaigning for Real Beauty* Pet Services in India - From Bow-Bow to Wow-Wow*
Evaluation Of Alternatives
Purchase Decision
Purchase Act
Motives in buying
There are complex motives behind purchasing decisions. Often the underlying motive is different from the stated motive. Why do people buy rolex watches? - for accurate timing - or as a status symbol
Routine or programmed- habitual purchase. Low involvement by the buyer ( purchase of milk and bread). Limited decision making- some considerations and evaluations (clothes). Extensive decision making- high involvement buying requiring detailed consideration (car, house). Impulsive buying- bought on impulse without prior thought (packet of chips).
Maslows HierarcHy
Self actualization Spending on creative products Esteem needs (status symbol) Social needs Spending on social pursuits Security needs Security system Physiological needs Food, drink, shelter
Extent to which the supply of valid products and services exceed consumer demand.
Ability to communicate with customers quickly and accurately. Existence of multiple avenues of distribution quickly and economically. Extent to which marketers can influence to induce distributors to comply with overall marketing strategy. Economic growth, both nationally and globally.
Buyers response
Product choice Brand choice Dealer choice Purchase timing Purchase amount