CB IWHY STUDY

8/7/2019 CB IWHY STUDY

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W H Y S T U D Y

Consumer behaviour


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y Defined as----

y The behaviour tht consumers display in searchingfor, purchasing, using, evaluating. and disposing ofproducts and services that they expect will satisfytheir needs.

y The actions of consumers in the market place and theunderlying motives for those actions.

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Consumer behaviour


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WHYSTUDU C. B.

1.CONSUMERS DO NOT ALWAYS ACT OR REACT ASTHE THEORYWOULD SUGGEST.

Eg. in past directly associated price and quality but nowseek value for money

2.CONSUMER PREFERENCES ARE CHANGING ANDARE DIVERSE.

Eg. availability of more choice in mobile phones as well asservices

3.RAPID INTRODUCTION OF NEWPRODUCTS.eg.computers

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4.SHORTER PRODUCT LIFE CYCLES

New products are being introduced at a faster pacehence many PLCs are shortened because productsare modified, improved or replaced

by new and substitute products. company is alwayslooking for new product ideas.

5.IMPLEMENTING THE MARKETING CONCEPTREQUIRES STUDYING THE CONSUMERBEHAVIOUR.

6.GROWTH OF SERVICE MARKETING.

7.GROWTH OF INTERNATIONAL MARKETING

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8.MEETING OF SPECIAL NEEDSOF CUSTOMERSREQUIRES MARKET SEGMENTATION

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SEVEN KEYS TO CONSUMER BEHAVIOUR

1.C.B. IS MOTIVATED.

2.C.B. IS A PROCESS.

3.C.B. INVOVES DIFFERENT ROLES.

4.C.B.DIFFERS FROM PEOPLE TO PEOPLE

5.C.B. IS INFLUENCED BYEXTERNAL FACTORS.

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APPLICATION OF CONSUMER BEHAVIOUR

y MARKET OPPORTUNITYANALYSIS

y TARGET MARKET SELECTION

y MARKET MIX DETERMINATION

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Market opportunity analysis

This is an activity where by trends and conditions

In the market place are examined to identify the needsand wants of consumers which are not fully being

satisfied .It has resulted in development of newproduct offerings. eg. interst in fitness has led toproducts like gym equipments ,excer cycles etc.

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TARGET MARKET SELECTION

y It involves identifying distinct group of customerswho have unique needs and wants

y And approaching each segment with a unique

Market offering.y The marketer may also decide to concentrate efforts

on serving only one or a few identified targetmarkets.

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Consumer behaviour


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MARKETING MIX DETERMINATION

PRODUCT

CB INFLUENCES DECISIONS REGARDING

SIZE,SHAPE AND FEATURES OF THEPRODUCTS,ITSPACKAGING,ACCESSORIES,WARRANTIES ETC.

Eg. Pan Parag introduced in tin, not convenient to

carry hence pouches bt they would either spill orbecome soggy. To overcome this zip pouches wereintroduced.

Eg.MAGGI NOODLES-Masala was accepted and

sambhar and garlic failed. 4/17/2011

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PRICE

y Decisions regarding the prices to be charged for theproducts or services and any modifications to theseprices must be made by marketers, as they will

determine the amount of revenues that may begenerated. Consumers price awareness and theirsensitivity to the price differences will help themarketer in promotional efforts, price reductions

and offering discounts.

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PROMOTION

y This includes decisions related with best methods ofpromotion, the most effective means to gainconsumers attention, the best way to convey

message and the frequency of repetition of a givenadvertisement.

y In case of industrial products media advertising is

negligible instead brochures, leaflets which containdetailed specification about product is given.

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PLACE

y The marketer has to consider where and how to offerproducts and services for sale. The marketer has todecide which channel to be used. Whether to sell

through all retail outlets or only through selectedfew.

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4/17/2011Consumer behaviour

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