Consumer Behavior

Session 1
By
Mayank Jyotsna Soni
Just an Example to Begin with

• https://www.youtube.com/watch?v=CQLXkEb7k98
Decoy Effect
• The Decoy Effect or the Asymmetric Dominance Effect is a cognitive
bias in which consumers will tend to have a specific change in
preferences between two options when also presented with a third
option that is asymmetrically dominated
Subconscious
Consumer behavior

• The process of acquiring, consuming, disposing the products,

services, ideas or experiences.

• It includes-
• Search for information
• Consumer thoughts , feelings and interactions
• Conscious and subconscious decisions
Model of Consumer Behavior
Why is it important to study CB?
Consumer’s perspective
Pre-purchase Issues How does a consumer decide that he/she
needs a product?
What are the best source of information to
learn more about alternative choices?
Purchase Issues Is acquiring a product a stressful or
pleasant experience?
What does the purchase say about the
consumer?
Post-Purchase Does the product provide pleasure or
Issues perform its intended function?
How is the product eventually disposed of,
and what are the environmental
consequences of this act?
Marketer’s Perspective
How are consumer’s attitude towards
products formed or changed?
What cues do consumer use to infer which
products are superior to others
How do situational factors such as time
pressure or store display, affect the
consumer’s purchase decision?
What determines whether a consumer will
be satisfied with a product and whether
he/she will buy it again?
Does this person tell others about his/her
experiences with the product and influence
their purchase decisions?
Information base for understanding consumer
behavior

• Research, research and research …

• Primary data
• Qualitative research
• Quantitative techniques – survey
• Experimental research
• Observational research – ethnography, obstrusive vs. unobstrusive

• Secondary data
Group Formation and Activity
• Group Formation
• Criteria-> Gender diverse group

• In-class discussion component (15%)

• 5 % -> Articles and cases analysis/presentation
• Total of 15 articles + 8 cases = 23 items
• Out of which 4 articles + 8 cases = 12 items need to be prepared and presented, i.e. one item each
• 5% for each component
• Additional articles will be allocated to students not comprising these study groups
• Allocation will be sent separately
• 10 % -> in-class discussion

• Group Projects (25%)

• 5% for mini-project -> Based on analyzing 3 ads with Consumer Behaviour concepts
• 20% for Field Research Project -> Proposal submission deadline needs to be finalized
Thank You