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RT-IUnit II
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CONSUMER BEHAVIOR
Two elements in understanding Retail consumer
behavior are
ConsumerDemographics
Consumer
Life Styles
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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
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CONSUMER LIFESTYLE
Consumer Lifestyles are based on Social and
Psychological factors and influenced by
demographics.
Social Factors
Psychological Factors
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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
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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
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THE IMPACT OF PERCEIVED RISK ON
CONSUMERS
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TYPES OF CONSUMER BEHAVIOR
Complex
Buying
Behavior
Variety
Seeking
Buying
Behavior
Dissonance-
Reducing
Buying
Behavior
Habitual
Buying
Behavior
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TYPES OF CONSUMER 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
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TYPES OF CONSUMER BEHAVIOR
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
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TYPES OF CONSUMER BEHAVIOR
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
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TYPES OF CONSUMER BEHAVIOR
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
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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