Consumer behavior

Consumer behavior

1. What is?

   • “Is the study of how a customer, or a group of customers select, buy, use, and dispose ideas toward the products or services in order to satisfy their needs and wants” (Chand, N.D.)

2. Why do we buy?

   • Satisfy a need or desire, solve a problem, satisfy an impulse.

3. Types of customers

   • Manufacturers, resellers, government, institutions, consumers.

4. Buying decision maker

   • Users (OEM), initiators (anyone/ any company), influencers.

5. Supplier evaluation & choice

   • Rational needs, emotional needs.

6. Organizational needs & criteria

   • Criteria:profit, low cost procurement, financial factors, life-cycle costing.
   • Quality criteria: quality & reliability of the products.
   • Service criteria: solving problems value analysis-customer´s & suppliers.

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