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MEANING OF CONSUMER BUYING BEHAVIORConsumer buying behavior is the study of when,
why, how, and where people do or do not buy product. It
attempts to understand the buyer decision making process
both individually & in groups & tries to assess influence onthe consumer from factors such as demographics,
behaviour, family, friends, reference groups & society in
general.
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Consumer behavior can be defined as , The Decision Making
Process And Physical Activity Involve In Acquiring, Evaluating,
Using And Disposing Of Goods And Services.
Definition of consumer buying
behavior
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NEED TO STUDY CONSUMER
BEHAVIOUR
People are changing from time to time, so do their
tastes and preferences. Identifying those is the firststep towards achieving success and the rest depends
on the performance of the product.
This also means that customers are open to new and
different products from time to time. Its just that theywant the product to be flexible and adaptable to their
needs and preferences.
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Example Of FordLets take the example of Ford. Before establishing their
base in India, they engaged in a lot of researches. Their
researches were made on the Indian peoples social life, personal
tastes and preferences, way of life, how they identify an effectiveproduct and what makes them get attracted towards a product.
The social and economic conditions were analyzed.
The general economy of India was also researched on.
They had modified their product to suit the Indian conditions.Their technology had to be adjusted and suited to such an extent
that their car is adaptable to Indian conditions. Today Ford is
enjoying a huge market in India
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It is common for customers to experience concerns after
making a purchase decision. This arises from a concept that is
known as cognitive dissonance. The customer, having bought aproduct, may feel that an alternative would have been preferable.
In these circumstances that customer will not repurchase
immediately, but is likely to switch brands next time.
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Factors influencing consumer
buying behavior
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Factors influencing consumer
buying behavior
Cultural Factors
Social Factors
Personal Factors
Psychological factors
Celebrity Influences
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Cultural Factors
1. Culture:
Cultural shifts
A. Leisure time
B. Health conscious
2. Subculture
3. Social class
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Social Factors
1) Reference group
2) Family group
3) Roles & Status
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Personal Factor
Age & Life Cycle Stage
Family Life-Cycle StagesYoung Middle-Aged OlderSingle
Married Without ChildrenMarried With ChildrenDivorced With Children
SingleMarried Without Children
Married With ChildrenMarried Without Dependent Children
Divorced Without ChildrenDivorced With Children
Divorced Without Dependent Children
Older MarriedOlder Unmarried
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Occupation
Economic situations
Lifestyle
Personality & self concept
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Psychological Factor
Motivation
MASLOW hierarchy of needs!! Physiological
Safety
Love and Belonging Esteem
Self Actualization
Perception Learning
Attitude
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Celebrity Influence
The celebrity affect the consumer buying behaviour by
influencing consumer purchase decision through their unique
promotion strategies.
For Example - Amir khan is promoting Samsung mobile.
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RECENTCHANGESINCONSUMERBEHAVIORS
TelevisionIn 2000 35% population
In 2005 to 50% population
Plasma Television
RefrigeratorIn 2000 9.4% population
In 2005 12% population
Godrej & Whirlpool
Telephone
In 2000 6.5% population
In 2005 12% population
BSNL & MTNL
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Home Owners
In 2000 40 years of age
In 2005 28-30 years of age
Mobile UsersMobile users 130 millions
internet users 40 millions
Nokia & Samsung.
Credit cardCredit card penetration has grown to 10 times between 2001 and2005. ICICI, HDFC, SBI.
EntertainmentConsumer prefer Cinemax & PVR rather than multiplexes &Cinema hall.
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Taste & Preferences
Consumer prefers luxurious & branded products Titan, Fast
Track, Rado for watches.
Hospitability Industry
Consumer wants better hospitability & tourism services
SOTC, Star Tours, etc,.
Housing Facilities
Customer wants better housing facilities . Hiranandani,MHADA, LODHA etc,
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Premium Products
Rural Market
After Sales Services
Market Segmentation
Growth OfTelecommunicationSector
Tourism Industry
Construction Field
Health And Hygiene
Internet Facilities
Banking And FinancialInstitutions
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Case Study in Yamaha gladiator-by Mr. Payeng (Mar 16, 2008)
Sales Graph
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Virtually every Auto Magazine in this country rate
the Yamaha Gladiator as a good bike in the 125 cc segment.
Even my own personal opinions do not differ much fromthese auto magazines.
But have a look at the sales figures of the 125 cc and
above segment in India posted below. Since Yamaha India
do not have any other bike except the 125 cc "Gladiator" inthe 125 cc and above segment, the graph clearly indicates the
sales figures of the Gladiator for Yamaha India.
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Who are the 125cc target Customer & what are they lookingfor?
Fuel Efficiency
High Mileage
But according to most Auto Magazines, the Fuel Efficiency of the
Gladiator isn't bad and almost at par with what other 125 cc bikes
offer.
Economies of scale & Scale &
Distance
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Need/problem Recognition The buying process begins with recognition on the
part of the buyer that he has a problem or need.Market Research should try to identify what are thefactors that make a buyer go for a 125 cc bike.
Factors like price, looks/styling, and resale value willbe always there, but according to me, the FuelEfficiency happens to be the most important factor for
a 125 cc buyer. Information search
Personal Sources
Commercial Sources
Public Sources
Experiential Sources
Based on the information gathered, a 125 cc buyer willarrive at an "Evoked or Choice Set" from the 125 cc
bikes available in the market.
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ComparisonHonda Shine
Hero Honda Super Splendor/Glamour Suzuki Zeus/Heat
Bajaj XCD
TVS Flame Yamaha Gladiator
Definitely a good looking bike. The advertisements
showed John Abraham pulling wheelies with this bike in an
Airport. Must be a powerful bike.
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The main problem with gladiator
Awareness
No auto magazines & no internet surfing
Awareness through reference group
The final problem is how they advertise theirproduct
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Reviews
Vijay Says
expensive when it comes to maintenance.
Reputation is not high in comparison with others.
Old formula of promotion
Arvind Says
Superb bike & purchased fortnight. People want everything ( power, mileage, looks,
low cost) in their bikes.
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Reviews
Sankoobaba Says
People dont read magazine & surf internet.
Depend on public opinion.
Yamaha should work on building brandamong masses.
Vaibhav says
Agree with above.
Should market the product efficiently. Learn on Suzuki market & need a right
push.
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Reviews
Aryan Says (purchased)
Bike is best, class handling, exceptional
braking, dam fast.
Bike wasnt marketed properly.
People usually see Bajaj & Honda
around them.
Missing joy of riding Gladi.
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From above analysis it is very clear that Indian consumers
buying behavior and their attitude have changed drastically
in the recent past. One thing is for sure that the pace of
change in the needs, desires and wants of the Indianconsumers will be even steeper and will further change
drastically in the near future.
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