Consumer Behaviour Dr.P.S DoMS, Unit II EAB 5/26/2018.

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Presentation transcript:

Consumer Behaviour Dr.P.S DoMS, Unit II EAB 5/26/2018

Based on concepts from Psychology Sociology Anthropology Marketing Economics Dr.P.S DoMS, Unit II EAB 5/26/2018

Why do we need to study Consumer Behaviour? Because no longer can we take the customer/consumer for granted. Dr.P.S DoMS, Unit II EAB 5/26/2018

Failure rates of new products introduced Out of 11000 new products introduced by 77 companies, only 56% are present 5 years later. Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives. Dr.P.S DoMS, Unit II EAB 5/26/2018

All managers must become astute analysts of consumer motivation and behaviour Dr.P.S DoMS, Unit II EAB 5/26/2018

Can Marketing be standardised? No. Because cross - cultural styles, habits, tastes, prevents such standardisation. Dr.P.S DoMS, Unit II EAB 5/26/2018

Unless Managements act The more successful a firm has been in the past, the more likely is it to fail in the future. Dr.P.S DoMS, Unit II EAB 5/26/2018

Why? Because people tend to repeat behaviour for which they have been rewarded. Dr.P.S DoMS, Unit II EAB 5/26/2018

Buyer Behaviour Dr.P.S DoMS, Unit II EAB 5/26/2018

Marketing Stimuli Dr.P.S DoMS, Unit II EAB 5/26/2018

Other Stimuli Dr.P.S DoMS, Unit II EAB 5/26/2018

Buyer characteristics Cultural Social Personal Psychological Dr.P.S DoMS, Unit II EAB 5/26/2018

Buyer’s Decision Process Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Consumption Postpurchase behaviour Dr.P.S DoMS, Unit II EAB 5/26/2018

Buyer’s Decision Product Choice Brand Choice Dealer Choice Purchase Timing Purchase Amount Dr.P.S DoMS, Unit II EAB 5/26/2018

Cultural factors Culture Sub - culture Social Class Dr.P.S DoMS, Unit II EAB 5/26/2018

Social factors Reference Groups Family Roles and Status Dr.P.S DoMS, Unit II EAB 5/26/2018

Personal Factors Family Life Cycle Occupation and Economic circumstances Lifestyle Personality and self - concept Dr.P.S DoMS, Unit II EAB 5/26/2018

Psychological Factors Motivation Perception Learning Beliefs and Attitudes Dr.P.S DoMS, Unit II EAB 5/26/2018

Buying Roles Initiator Influencer Decider Buyer User Dr.P.S DoMS, Unit II EAB 5/26/2018

Buying Behaviour Complex Dissonance - Reducing Habitual Variety seeking Dr.P.S DoMS, Unit II EAB 5/26/2018

Buying Process Problem Recognition Information Search Evaluation Alternatives Purchase Decision Dr.P.S DoMS, Unit II EAB 5/26/2018

Post - Purchase Behaviour Satisfaction Actions Use and Disposal Dr.P.S DoMS, Unit II EAB 5/26/2018