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Consumer Behavior

The document discusses consumer behavior, which is the study of how individuals and groups select and use products to satisfy their needs, influenced by cultural, social, and personal factors. It outlines various influences on consumer behavior, including cultural factors like culture and social classes, social factors such as family and reference groups, and personal factors like age and occupation. Additionally, it describes the buyer decision process, which includes stages from problem recognition to postpurchase evaluation, and touches on organizational buying in business markets.

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parichaygarg18
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18 views38 pages

Consumer Behavior

The document discusses consumer behavior, which is the study of how individuals and groups select and use products to satisfy their needs, influenced by cultural, social, and personal factors. It outlines various influences on consumer behavior, including cultural factors like culture and social classes, social factors such as family and reference groups, and personal factors like age and occupation. Additionally, it describes the buyer decision process, which includes stages from problem recognition to postpurchase evaluation, and touches on organizational buying in business markets.

Uploaded by

parichaygarg18
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Consumer Behavior

• https://www.youtube.com/watch?v=bnl9uUFmFiI
Maggi

• https://www.youtube.com/watch?v=j3CkjmYPZ-s
•
https://www.zeiss.co.in/vision-care

• https://www.youtube.com/watch?v=zqxHoGjhrLY
Consumer Behavior?

• Consumer behavior
– The study of how
individuals, groups, and
organizations select, buy,
use, and dispose of goods,
services, ideas, or
experiences to satisfy their
needs and wants

– Influenced by cultural,
social, and personal
factors
What Influences Consumer Behavior?

• Cultural factors

– Culture

– Subcultures

– Social classes
Cont..
Culture is the learned values,
perceptions, wants, and behavior
from family and some other
important institutions.

Each Culture consists of


Subcultures
– Subculture are groups of people
within a culture with shared value
systems based on common life
experiences and situations

– African American
– Asian
– North Indian /South Indian
Cont..
Social classes are society’s
relatively permanent and
ordered divisions whose
members share similar
values, interests, and
behaviors
• Measured by a combination
of occupation, income,
education, wealth, and other
variables
What Influences Consumer Behavior?

• Social factors

Reference groups

Family

Roles and status


Reference Groups
• A person’s reference groups are all the groups that have a
direct (face-to-face) or indirect influence on their
attitudes or behavior.
• Membership groups
– Primary vs. secondary

• Aspirational groups
• Dissociative groups
• Opinion leader
Characteristics Affecting Consumer
Behavior

Membership Aspirational
Groups Groups
• Groups with • Groups an
direct influence individual
and to which a wishes to
person belongs belong to
Family

• Family of orientation vs. family of procreation


What Influences Consumer Behavior?
• Personal factors
– Age/stage in life cycle
– Occupation and
economic
circumstances
– Personality and self-
concept
– Lifestyle and values
• Bachelor: Young/ Single people not living at home.
– Few financial burdens.
– Fashion opinion leaders.
– Recreation oriented.
– Buy basic kitchen equipment/ furniture/ vacations.
• Newly Married Couple: Young/ No children.
– Better off financially than they would be in near future.
– High purchasing rate of consumer durables- furniture/ auto/
refrigerator (may be highest purchasing rate).
• Full Nest 1: Youngest child under six.
– Home purchase.
– Low liquid assets.
– Dissatisfied with financial positions & savings.
– Interested in new products.
– Influenced by advertisements.
– Buy: washing m/c, T.V., Baby food, toys.
• Full Nest 2: Youngest child above six years.
– Better financial position.
– Lower influence of advertisements.
– Buy large size packs/ multiple units.
– Buy: Food, Cleaners, Educational Accessories.
• Full Nest 3: Older Married Couple with Dependent Children.
• Empty Nest 1: Older Married Couples with NO Children Living with them.
– Better financial position.
– Children may start getting jobs.
– Difficult to influence with advertisement.
– But: Furniture, Magazines, Appliances.
– Family head still working.
– Peak home owners.
– Most satisfied with financial position and savings.
– Buy: Travel, recreation, self education, gifts.
– Not interested in new products.
• Empty Nest 2: Older Married Couple
– No children at home
– Head of family retired.
– Drastic decrease in income.
– Keep home.
– Buy medical care.
• Solitary Survivor: Working.
– Income still good.
– May sell home.
• Solitary Survivor: Retired.
– Drop in income.
– Buy medical care.
– Needs attention/ affection/ security.
Occupation:

• Person’s occupation influences his/her


consumption pattern.
Example:
• Blue collar worker : work clothes + shoes.
• Senior Manager : suits/ air travels/ club
memberships.
Personality and self-concept
Characteristics Affecting Consumer
Behavior
Personal Factors
• Personality and Self-Concept
– Personality refers to the unique psychological
characteristics that lead to consistent and lasting
responses to the consumer’s environment
lifestyle and Values
• A lifestyle is a person’s pattern of living
in the world as expressed in activities,
interests, and opinions.
Money constrained or time constrained

• Values
Belief system

https://economictimes.indiatimes.com/tec
h/startups/licious-enters-plant-based-
meat-business-with-new-brand-
uncraven/articleshow/94764491.cms?fro
m=mdr

https://www.greenqueen.com.hk/india-best-
alt-protein-startups-plantbased-cellbased-
meat-dairy/
Key Psychological Processes

Motivation

Memory Perception

Emotions Learning
Model Of Consumer Behavior
Key Psychological Processes
• Motivation
– A need becomes a motive when it is aroused
to a sufficient level of intensity to drive us to
act.

1. Biogenic Needs
2. Psychogenic Needs
Motivation

Maslow’s Herzberg’s
Freud’s Hierarchy Two-Factor
Theory of Needs Theory

Behavior Behavior Behavior is


is guided by is driven by guided by
subconscious lowest, dissatisfiers
motivations unmet need and
satisfiers
Maslow’s Hierarchy Of Needs
Key Psychological Processes
• Perception
– The process by which
we select, organize, and
interpret information
inputs to create a
meaningful picture of
the world
Perception

Selective attention

Selective distortion

Selective retention

Subliminal perception
The perception of a series of stimulus which the
person is not consciously aware of but gets under the
influence involuntarily
Key Psychological Processes
• Learning
– Induces changes in our behavior arising from
experience
– Drive and cues
– Generalization and discrimination
Key Psychological Processes
• Emotions

– Many different
kinds of emotions
can be linked to
brands
Key Psychological Processes
1. The associative network memory model
views LTM as a set of nodes and links.
• Memory Nodes are stored information connected by
– Short-term vs. links that vary in strength.
long-term memory 2. Any type of information can be stored in
the memory network, including verbal,
– Associative visual, abstract, and contextual.
network memory
model
– Brand associations
– https://www.youtube.com/watch
?v=fVOacKl7N9Q

– Memory encoding
– Memory retrieval
The Buying
Decision Process
• The consumer typically passes
through five stages
– Problem recognition
– Information search
– Evaluation of alternatives
– Purchase decision
– Postpurchase behavior
Types of Buying Decision Behavior

Complex buying behavior

Dissonance-reducing buying behavior

Habitual buying behavior

Variety-seeking buying behavior


The Buyer Decision Process
Need Recognition

• Occurs when the buyer recognizes a


problem or need triggered by:
– Internal stimuli
– External stimuli
The Buyer Decision Process
Information Search
Sources of Information

• Personal sources—family and friends


• Commercial sources—advertising, Internet
• Public sources—mass media, consumer
organizations
• Experiential sources—handling, examining,
using the product
The Buyer Decision Process
Evaluation of Alternatives

• How the consumer processes information to


arrive at brand choices
The Buyer Decision Process
Purchase Decision

• The act by the consumer to buy the most


preferred brand
• The purchase decision can be affected by:
– Attitudes of others
– Unexpected situational factors
The Buyer Decision Process
Postpurchase Decision

• The satisfaction or dissatisfaction that the


consumer feels about the purchase
• Relationship between:
– Consumer’s expectations
– Product’s perceived performance
• The larger the gap between expectation and
performance, the greater the consumer’s
dissatisfaction
• Cognitive dissonance is the discomfort caused
by a postpurchase conflict
Organizational Buying
• Business market
– Consists of all the organizations that acquire
goods and services used in the production of
other products or services that are sold,
rented, or supplied to others
Buying situations

Straight Rebuy

Modified Rebuy

New Task
The buying center

 Initiators
 Users
 Influencers
 Deciders
 Approvers
 Buyers
 Gatekeepers
Stages in
B2B
Buying
Process

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