Consumer Behaviour

1. Consumer Behaviour • Define consumer behavior and explain its nature/features. • Explain the factors influencing consumer behaviour. • Explain the steps in consumer buying decision process.

2. Introduction • Consumer psychology needs a special attention in the present highly competitive and consumer-oriented marketing system. • Consumer is the cause & purpose of all production and marketing activities.

3. Meaning of Consumer/Buyer Behavior • Consumer is the most important person in business. His attitude, behavior, needs and reactions play an important role in regard to marketing plans and policies of companies. • Companies study the behaviours of consumers constantly for their benefits. • Consumer behavior is comparatively new area within the scope of business management. • The purpose of study of consumer behavior is to understand human actions and reactions (consumer behaviour) in the best possible manner.

4. Definition of Consumer/Buyer behaviour • Consumer behavior is the process whereby individuals decide what, when, where, how and from whom to purchase goods and services. • Walters and Paul • Buyer behaviour is all psychological, social and physical behaviour of potential customers as they become aware of, evaluate, purchase, consume and tell others about the products and services. • Webster

5. Types of Buyers • Friendly/co-operative buyer. • Timid/reserved/shy buyer. • Silent buyer. • Undecided buyer. • Price or quality conscious buyer. • Argumentative buyer. • Suspicious buyer. • Impatient buyer. • Bargain buyer. • Impulsive buyer. • Over-cautious buyer. • Slow-thinking buyer • Rude/ill-mannered buyer. • Clever/intelligent buyer.

6. Factors influencing buyer behaviour • Social factors.-Family, roles and status, ref. groups • Economic factors.-size of family, disposable Pincome propensity to consume, consumer credit, dis. income • Cultural factors.-sub culture, soc. Class (wealth, income) • Personal factors.-age, occ., life style, personality • Physiological factors.-basic needs • Psychological factors.-motivation, perception, learning, beliefs, attitude

7. Decisions taken by the buyer while purchasing Need recognition Information search Evaluation of alternatives Purchase decision Post-purchase Behaviour

8. Buying Motives of Consumer/Customers • Fear. • Profit/Gain. • Vanity. • Pride. • Fashion. • Love and Affection. • Curiosity. • Admiration. • Jealousy. • Patronage. • Comfort and Convenience. • Health.

9. Types of Buyer behaviour • Complex buying behaviour. • Dissonance-reducing buying behaviour. • Habitual buying behaviour. • Variety-seeking buying behaviour.

10. Importance of consumer/buyer behaviour in marketing management • Study of consumer behaviour has special importance in the present competitve marketing management system. • Understanding buyer/consumer behaviour is very important for successful marketing.

11. Meaning & Importance of Buyer/Consumer Psychology • Knowledge • Attitudes & Emotions • Images • Intentions • Buying Motives

12. Steps in Selling/Buying Process • Prospecting. • Pre-approach. • Attention. • Interest. • Desire. • Action.