Consumer Behavior

Consumer Behavior

1. factors that affect consumer behavior

   • Motivations and emotions
   • Perception
     • Perception involves three distinct processes:
       • sensing information, selecting information and interpreting information
   • Prior experience
     • The consumer's prior experience with the category, product or brand can have a major bearing on purchase decision-making. .
   • Culture
     • Culture is the broadest and most abstract of the external factors. Culture refers to the complexity of learning meanings, values, norms, and customs shared by members of a society.
     • Subcultures
       • age, geographic, religious, racial, and ethnic differences
   • social class
     • refers to relatively homogenous divisions in a society, typically based on socio-economic variables such as educational attainment, income and occupation.
   • Situational determinants
     • Situation determinants play an important role in influencing the behavior of the consumer and are factors independent of the individual and its characteristics, and related to the place and time of purchase or consumption
   • Family
     • The family has a great impact on the individual because he learn from his young age how to act as a conscious consumer by acquiring the skills, values and trends of his family environment.

2. consumer buying process

   • post-purchase behavior
     • Post-purchase behavior is when the customer assesses whether he is satisfied or dissatisfied with a purchase.
       • is how the consumer behaves with the product that he decided to buy.
   • purchase decision
     • During the purchase decision stage, the consumer may form an intention to buy the most preferred brand or product.
       • the consumer decided to buy the most convinient product or (usually) the most famous brand
   • evaluation of alternatives
     • During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes.
       • the hungry consumer makes comparatives with all the products taking in count the price and quality
   • information search
     • During this stage, a consumer who recognizes a specific problem or need will then likely be persuaded to search for information, whether it be internally or externally.
       • the hungry consumer starts searching information about what to eat
   • need recognition
     • This is the first stage of the Consumer Decision Process in which the consumer is able to recognize what the problem or need is and subsequently, what product or kind of product would be able to meet this need.
       • for example: a consumer feels hungry and he wants something to eat
   • Factors that affect it
     • attitude
       • Tendency learnt to respond to something in a consistently favorable or unfavorable way.
     • belief
       • Consumers perceptions of how a product or brand performs.
     • Business buyer behavior
       • organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.
     • groups
       • individuals or groups that influence our opinions, beliefs, attitudes and behaviors.
         • opinion leaders
           • well-known individual or organization that has the ability to influence public opinion on the subject matter for which the opinion leader is known
             • politicians, business leaders, community leaders, journalists, educators, celebrities, and sports stars.
     • new preoduct development
       • preliminary step in product or service development and involves a number of steps that must be completed before the product can be introduced to the market.
     • New task
       • New task purchase is the one purchase decision that has not been done previously by the business as they didnot have the need for a new product

3. consumers market

   • buyers who purchase goods and services for consumption rather than resale.

4. Consumer behaviour is the study of individuals or groups way of purchasing.

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