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

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.

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.

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

Types of Buyers1. Friendly/co-operative buyer.2. Timid/reserved/shy buyer.3. Silent buyer.4. Undecided buyer.5. Price or quality conscious

buyer.6. Argumentative buyer.7. Suspicious buyer.

8. Impatient buyer.9. Bargain buyer.10. Impulsive buyer.11. Over-cautious buyer.12. Slow-thinking buyer13. Rude/ill-mannered

buyer.14. Clever/intelligent

buyer.

Factors influencing buyer behaviourSocial factors.-Family, roles and status, ref. groupsEconomic factors.-size of family, disposable Pincome

propensity to consume, consumer credit, dis. incomeCultural factors.-sub culture, soc. Class (wealth, income)Personal factors.-age, occ., life style, personalityPhysiological factors.-basic needsPsychological factors.-motivation, perception, learning, beliefs, attitude

Decisions taken by the buyer while purchasing

Need recognition Information search

Evaluation of alternatives Purchase decision

Post-purchase Behaviour

Buying Motives of Consumer/Customers1. Fear.2. Profit/Gain.3. Vanity.4. Pride.5. Fashion.6. Love and Affection.

7. Curiosity.8. Admiration.9. Jealousy. 10. Patronage.11. Comfort and

Convenience.12. Health.

Types of Buyer behaviour

Complex buying behaviour.Dissonance-reducing buying behaviour.Habitual buying behaviour.Variety-seeking buying behaviour.

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.

Meaning & Importance of Buyer/Consumer Psychology

KnowledgeAttitudes & EmotionsImagesIntentions Buying Motives

Steps in Selling/Buying ProcessProspecting.Pre-approach.Attention.Interest.Desire.Action.