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UNIT IINTRODUCTION CONCEPTS OF CONSUMER BEHAVIOUR:Defi nition: Consumer behaviour is defined, as a

behaviour that consumers display insearching for, purchasing, using, evaluating and disposing of products and services thatthey expect will satisfy

their needs.SchiffmanObserv able activities chosen to maximize satisfaction through attainment of economic

goods and services such as choice of retail outlet, preference of particular brands and so on.Dictionary of marketing and

advertisingThe decision process and physical activity individual engage in when evaluating,acquiri ng, using or disposing of goods and

services.-Loudon & Della Bitta Types of consumers:Types of consumers:

Personal consumers

Organizational consumers What is consumer behaviour? Obtaining purchase/ receipt of product Consumin g - how, where,

when and under what circumstances use product Disposing - get rid Consumer behaviour roles:Initiator:

Individual who determines that some needs or want is not being metand authorizes to rectify the situation. Influencer:

Individual who intentionally or unintentionally influence the purchase decision. Buyer: Individual who actually make the

purchase transaction. User: Individual who directly consume the product. Importance of studying consumer behaviour:

Consumer is the king.

Consumers do not always act or react as the theory suggest.

Consumer preferences are changing and become highly diversified.

Consumer dislikes identical product and prefer

differential products.

Segmenting the market to cater the special needs of consumers.

Rapid introduction of

new products with technological advancement

To sell products that might not sell easily. O

Model of consumer behaviour: Feedback to consumer Feedbac k to environmentFeed back to environment

Methods of studying consumer behaviour:Methods of studying consumer behaviour: Observational approachIn home observationIntervi

ews and surveysFocus groupField experimentationC onsumption research products Principles of consumer behaviour:Principle

s of consumer behaviour: Consumer is sovereignConsum er is globalConsumers are differentConsume r has rights

APPROACHES TO THE STUDY OFCONSUMER BEHAVIOUR: Different approaches to studying consumer behaviour are:

Managerial approach Holistic approach Balanced approach

Managerial approach: - It is more micro and cognitive in nature.- Micro: emphasizes the individual consumer like his attitude,

perception, lifestyle, etc.Cognitive: emphasizes the thought process of individual consumers and factorsin influencing their

decision.Individua lConsumer Enviro nmentalInfluence Consumer Decisio n MakingConsumer Response

- Marketers are interested in this approach because all marketing strategy is tosatisfy the individual consumers need.Risks in

managerial approach: Overemphasizes the rationality of consumers Overlook the dynamics of

environmental factors independent of individual Focus is on purchase rather than consumption Holistic approach:

- It is more macro in nature.- It focuses on consumption experience rather than purchasing process.- It helps in understanding the environmental

context of consumer action.Risks in holistic approach are: No emphasize on purchase decision.

No understanding of cognitive process, which is necessary for themarketer to meet consumer needs. Balanced approach:

In balanced approach both the managerial view and holistic view are taken byeliminating the drawbacks. APPLICATION OF CONSUMER

BEHAVIOUR KNOWLEDGE INMARKETING DECISION: Understanding of consumer behaviour is essential for the long run success

of anymarketing program.Some of marketing activities were consumer behaviour knowledge is importantare:

Marketopportunity analysis Target market selection Marketing mix determination

Market opportunity analysis: - It involves analyzing the market to identify unsatisfied needs and wants.- The analysis begins with a study of

general market trends such as consumerslifestyl e and income levels which suggests unsatisfied needs and wants.

Target market selection: - Market opportunity analysis results in the selection of target market ie distinctgroupings of consumers who

have unique wants and needs.- Eg: ColgatePalmolive company segment consumers according to their lifestyle pattern and personalities

to identify a unique group of consumers for a certain typeof deodorant soap. Market-mix determination: Marketing mix variables are:

Product
consumer behavior study material for MBA
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UNIT I INTRODUCTION CONCEPTS OF CONSUMER BEHAVIOUR: Types of consumers: What is consumer behaviour? Consumer behaviour roles: Importance of studying consumer behaviour: Model of consumer behaviour: Principles of consumer behaviour:

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