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CONSUMER BEHAVIOUR
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INTRODUCTION
Consumer Behaviour-
is the study of when, why, how and where people do or do
not buy a product.
studies the characteristics of individual consumers such asdemographics and behavioural variables in an attempt to
understand people's wants.
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DEFINITION
Consumer behaviour is "The study of individuals, groups,
or organizations and the processes they use to select,
secure, use, and dispose of products, services, experiences
or ideas to satisfy needs and the impacts that theseprocesses have on the consumer and society."
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CHARACTERISTICS
Consumer Behaviour-
studies the way individuals spend money.
is an important consideration in fields such as economics
and marketing understanding how consumers make theirdecisions.
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METHODS
There are three methods of consumer behaviour.
1. Market Research Method:
Is needed to ensure that we produce what customers
really want.
2. Primary and Secondary Research Method:
Primary Research Method- research that you design
and conduct yourself. Eg: Soft Drinks.
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METHODS
Secondary Research Method- research conducted using
information that others have already put together. Eg:
Clothes.
3. Research Sequence Method:More flexible and less precise methods are used
before using less flexible and more precise methods.
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TYPES
The four types of consumer behaviour are:
1. Routine Response/Programmed Behaviour: Buying low
cost items frequently; need very little search and decision
effort; Eg: Snack foods, milk etc.2. Limited Decision Making: Buying product occasionally.
Requires a moderate amount of time for information
gathering. Eg: Clothes.
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TYPES
3. Extensive Decision Making: Complex high involvement,
unfamiliar, expensive and/or infrequently bought products.
It has high degree of economic, performance, psychological
risk. Eg: Cars, homes, computers, education. Spend a lot oftime seeking information and deciding.
4. Impulse buying, no conscious planning.
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FACTORS
There are 4 factors of consumer behaviour:
1. Cultural Factors:
Consumer behaviour is deeply influenced by culturalfactors such as:
i) Culture.ii) Subculture.
iii) Social Class.
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FACTORS
2. Social Factors:Social factors also impact the buying behaviour ofconsumers. The important social factors are:
i) Reference groups.ii) Family.
iii) Role and status.
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FACTORS
3. Personal Factors:
Personal factors can also impact the consumer behaviour.
Some of the personal factors are:
i) Lifestyle.
ii) Economic situation.
iii) Occupation.
iv) Age.
v) Personality and self concept.
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FACTORS
4. Psychological Factors:
Psychological factors can also impact the consumer
behaviour. They are:
i) Perception.
ii) Motivation.
iii) Learning.
iv) Beliefs and attitudes.