consumer behabior

CONSUMER BEHAVIOR- An Overview : 

CONSUMER BEHAVIOR- An Overview Session 1

Key Concepts : 

Key Concepts Define consumer behavior and explain its elements Diversity of the Indian Market Factors influencing Consumer Behavior

Consumer Behavior Defined… : 

Consumer Behavior Defined… Reflects totality of consumer’s decisions with respect to the acquisition, consumption, and disposition of goods, services, time, and ideas by (human) decision making units (over time).

Defn. Contd.., : 

Defn. Contd.., “Consumer behavior is the study of how, why and what people do when they buy products or avail some services. It attempts to understand the buyer decision making process, both individually and in groups.” “Consumer behavior is defined as the activities people undertake when obtaining, consuming and disposing of products and services”

Slide 5: 

A case on GLITZ, a company involved in the manufacture of Vermicelli (pasta products)……………

Need for understanding Consumer Behavior : 

Need for understanding Consumer Behavior Shorter product life cycles Evolving customer preferences Environmental concerns Changing life styles Faster technology adoption

Consumer Diversity: India has a history of thousands of years : 

Consumer Diversity: India has a history of thousands of years

One popular approach of dividing the Indian market : 

One popular approach of dividing the Indian market India 1: ‘Elite’ – Value conscious consumer base India 2: ‘Climbers’ – Largest size of consumer base India 3: ‘Aspirants’ – Fastest growth driver of Consumer base

Changing pattern of Indian Consumer Industry : 

Changing pattern of Indian Consumer Industry

Factors influencing consumer behavior : 

Factors influencing consumer behavior

Cultural factors: culture & subculture : 

Cultural factors: culture & subculture Culture is the most basic cause of a person’s wants and behavior. Every group or society has a culture and cultural influences on buying behavior may vary greatly from country to country.

Social factors: informal & formal groups, family and social status : 

Social factors: informal & formal groups, family and social status Social class Reference group Primary group Family orientation Family of procreation Secondary group Tertiary groups Role and status

Personal factors: age, lifecycle, personality, lifestyle : 

Personal factors: age, lifecycle, personality, lifestyle Age and lifecycle stage Occupation and economic condition Personality and self concept Lifestyle and status

Psychological factors: Motivation, Perception, Learning, Experience, Beliefs : 

Psychological factors: Motivation, Perception, Learning, Experience, Beliefs

Understanding the buying decision process : 

Understanding the buying decision process