consumer beahviour unit2

8/8/2019 Consumer Beahviour Unit2

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RT-IUnit II



CONSUMER BEHAVIOR

Two elements in understanding Retail consumer

behavior are

ConsumerDemographics

Consumer

Life Styles



CONSUMER DEMOGRAPHICS

Demographics are quantifiable, easilyidentifiable and measurable consumer data.

y Gender

y Age

y Population growth rate

y Life expectancy

y Literacy

y Language

y Household Size

y Family & income status

y Income

y Place of residence, Education, Ethnical/Racial Background



CONSUMER LIFESTYLE

Consumer Lifestyles are based on Social and

Psychological factors and influenced by

demographics.

Social Factors

Psychological Factors



UNDERSTANDING CONSUMER

LIFESTYLES: SOCIAL FACTORS

Lifestyle

CultureR eference

Groups

Social

Class

Family

Life

Cycle

Time

Utilization

Household

Life

Cycle

Aspirational

Groups,Membership

groups,

Dissociative

Groups,

Face-to-face

groups



UNDERSTANDING CONSUMER

LIFESTYLES: PSYCHOLOGICAL FACTORS

Lifestyle

Personality(A Sum total of an

individual¶s tr aits)

Attitudes (Opinions & R eactions

to the surroundings)

Per ceived

Risk

Pur chase

Impor tance

Class

Consciousness(Extent of desired

status in the society)

FunctionalFinancial

Physical

Psychological

Social

Time



THE IMPACT OF PERCEIVED RISK ON

CONSUMERS



TYPES OF CONSUMER BEHAVIOR

Complex

Buying

Behavior

Variety

Seeking

Buying

Behavior

Dissonance-

Reducing

Buying

Behavior

Habitual

Buying

Behavior




Complex

Buying

Behavior

This type of Buyers�Highly Involved in purchasing

�Perceive Significant Difference betweenbrands

�Highly involves in purchasing when product is

�Expensive

�Risky

�Purchased Infrequently

Ex: A rur al customer buying iPhone




Dissonance-

Reducing

Buying

Behavior

This type of Buyers�Highly Involved in purchasing

�Highly involves in purchasing when product is�Expensive

�Risky

�Purchased Infrequently

�Perceive little Difference between brands

�Since the brand selection is not concentrated,

suffers with post-purchase dissonance.

Ex: A customer tak ing housing lone




Habitual

Buying

Behavior

This type of Buyers�Low Involvement in purchasing most low-cost

and frequently purchased products.�Do not search for product information , do not

evaluate brand characteristics and make

weighty decisions.

�Influenced by Ads repetitions and createsBrand Familiarity rather than Brand

Conviction.

Ex: A house wife pur chasing washing powder / salt




Variety

Seeking

Buying

Behavior

This type of Buyers�Have Low Involvement in purchasing but have

significant different brand preferences.�Do lot of brand switching.

�Encouraged by marketers to involve in impulse

purchase.

Ex: Female customer at a retail outlet

pur chasing chocolates / cook ies



MATRIX OF CONSUMER BEHAVIOR

Complex

Buying

Behavior

Variety

Seeking

Buying

Behavior

Dissonance-

Reducing

Buying

Behavior

Habitual

Buying

Behavior

High Involvement Low Involvement

Significant

Differences

between Brands

Few

Differences

between Brands

consumer beahviour unit2

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