consumer behavior

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consumer behavior defined for the purpose of marketing research

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Presentation Transcript

Consumer Buying Behavior:

Consumer Buying Behavior Presented By: Nidhi Sharma

Outline:

Outline Definition Need to analyze behavior Types Influencing factors Consumer buying process

Buying Behavior:

Buying Behavior Definition : The decision process and acts of people involved in buying and using products . How does the buyer make purchasing decision? What factors influence consumer purchases?

Need to analyze buying behavior :

Need to analyze buying behavior What, Where, When & How – Marketing Mix. Helps predict how consumers will respond to marketing strategies. Great impact on the success of firms marketing strategy.

Types of consumer buying behavior:

Types of consumer buying behavior Routine Response/Programmed Behavior Limited Decision Making Extensive Decision Making Impulse Buying

Routine Response / Programmed Behavior:

Routine Response / Programmed Behavior Frequently purchased low cost items. Low involvement required. Little search and decision effort Purchased almost automatically.

Examples- routine response:

Examples- routine response

Limited Decision Making:

Limited Decision Making Occasional buying. When information is needed for a unfamiliar brand in a familiar product category. Requires a moderate amount of time for information gathering . Loyalty to a brand

Examples- limited decision:

Examples- limited decision

Extensive Decision Making:

Extensive Decision Making Complex process- requires high involvement unfamiliar , expensive, infrequently bought products. High degree of economic/performance/psychological risk . Lot of time spent seeking information and deciding.

Examples- extensive decision:

Examples- extensive decision

Impulse Buying:

Impulse Buying Basis - purchase of the same product does not always elicit the same Buying Behavior. Reason determines the extent of decision-making.

Examples- impulse buying:

Examples- impulse buying THIS or THIS ?? going for the dinner- reason can be an anniversary celebration, or a meal with a couple of friends.

Influencing factors::

Influencing factors : Cultural Factors Social Factors Psychological Factors The marketer must be aware of these factors in order to develop a appropriate marketing mix for its target market.

Cultural Factors:

Cultural Factors Cultural factors exert the broadest and deepest influence a) Culture b) Subculture, c) Social class are particularly important in buying behavior.

Social Factors:

Social Factors Consumer’s wants, learning, motives etc. are influenced by family , reference groups, social class A) Roles and Status B) Family C) Reference group

Psychological Factors:

Psychological Factors A person’s buying choices are influenced by 4 major psychological factors Motivation Perception Learning Beliefs & attitudes

Consumer Buying Process:

Consumer Buying Process

PowerPoint Presentation:

Evaluation of Alternatives Purchase Decision Post-purchase Behavior 5 Stage Model of the Consumer Buying Process Need Recognition Information Search

Need Recognition (awareness of need):

Need Recognition (awareness of need ) The buying process starts when the buyer recognizes a problem or need. The need can be triggered by internal ,external, marketing stimuli. Ex.- person’s normal needs-hunger/ thrust –rises to threshold level and becomes a drive.

Information search:

Information search An aroused consumer will be inclined to search for more information Internal search- memory. External search- if he needs more information. Friends and relatives (word of mouth); Marketer dominated sources; comparison shopping; public sources etc.

Contd..:

Contd.. Helps buyer find possible alternatives- i.e- the evoked set . Hungry- want to go out and eat, evoked set is Chinese food Indian food etc.

Evaluation of Alternatives-:

Evaluation of Alternatives- Competitor brand information Consumer evaluation process The consumer is trying to satisfy the needs. The consumer is looking for certain benefits from the product solution. The consumer sees each product as a bundle of attributes for delivering the benefits sought to satisfy these needs

Contd..:

Contd.. Attributes of interests to buyer : Cameras : picture , sharpness, size ,price Hotels: Location ,cleanliness , atmosphere, price If not satisfied with your choice then return to the search phase.

Purchase decision-:

Purchase decision- In evaluation stage the consumer form preferences among the brands I n this phase-Choose buying alternative includes product, package, store, method of purchase , Incentives offered, out of stock, budget etc.

PowerPoint Presentation:

Consumer pays buys

Post-Purchase Evaluation-outcome::

Post-Purchase Evaluation-outcome : Satisfaction or Dissatisfaction. Have you made the right decision? This can be reduced by warranties, after sales communication etc. Ex : After eating an Indian meal, may think that really you wanted a Chinese meal instead of Indian.

Thank you for the patience:

Thank you for the patience ??

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