1. Consumer Behaviour

3. Based on concepts from n Psychology n Sociology n Anthropology n Marketing n Economics

4. Target Customer n No store can be all things for all people n Population is sub divided into smaller groups having similar characteristics n Market Segmentation-Smaller segments exhibiting homogeneous responses to various products and services

5. Why do we need to study Consumer Behaviour? Because no longer can we take the customer/consumer for granted.

6. The Customer n Answers to the following 5 questions determines the fashion each season - WHO IS THE CUSTOMER - WHERE DOES HE LIVE - WHAT DOES HE DO - WHEN DOES HE WEAR CLOTHES - WHY DOES HE BUY GARMENTS } designers & retailers re evaluate customer’s profile to create and select merchandise that will sell.

7. Failure rates of new products introduced n Out of 11000 new products introduced by 77 companies, only 56% are present 5 years later. n Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives.

8. All managers must become astute analysts of consumer motivation and behaviour

9. Factors affecting Buying Behaviour n Psychological n Sociological n Buying roles of family members n Population characteristics n Personal characteristics

10. Can Marketing be standardised? No. Because cross - cultural styles, habits, tastes, prevents such standardisation.

11. Unless Managements act The more successful a firm has been in the past, the more likely is it to fail in the future.

12. Why? Because people tend to repeat behaviour for which they have been rewarded.

13. Language Problems n “Please leave your values at the desk” - Paris hotel n “Drop your trousers here for best results” - Bangkok laundry n “The manager has personally passed all water served here” - Acapulco restaurant n “Because of the impropriety of entertaining guests of the opposite sex in the bedroom, it is suggested that the lobby be used for the purpose.” - Zurich hotel n Ladies are requested not to have children in the bar.”- Norway bar

14. “Come alive with Pepsi” n “Come alive out of the grave” - Germany n “Pepsi brings your ancestors back from the grave” - China

15. Buyer Behaviour Consumer 4Ps Marketing Environment Buyer Characteristics Buyer Decision Process Buyer Decision

16. Marketing Stimuli 4 Ps ProductPricePlacePromotion

17. Other Stimuli Marketing Environment EconomicTechnologicalPoliticalCultural

18. Buyer characteristics n Cultural n Social n Personal n Psychological

19. Buyer’s Decision Process n Problem Recognition n Information Search n Evaluation of Alternatives n Purchase Decision n Consumption n Postpurchase behaviour

20. Buyer’s Decision n Product Choice n Brand Choice n Dealer Choice n Purchase Timing n Purchase Amount

21. Cultural factors n Culture n Sub - culture n Social Class

22. Social factors n Reference Groups n Family n Roles and Status

23. Personal Factors n Family Life Cycle n Occupation and Economic circumstances n Lifestyle n Personality and self - concept

24. Psychological Factors n Motivation n Perception n Learning n Beliefs and Attitudes

25. Buying Roles n Initiator n Influencer n Decider n Buyer n User

26. Buying Behaviour n Complex n Dissonance - Reducing n Habitual n Variety seeking

27. Buying Process n Problem Recognition n Information Search n Evaluation Alternatives n Purchase Decision

28. Post - Purchase Behaviour n Satisfaction n Actions n Use and Disposal