CONSUMER MARKETS AND CONSUMER BUYER BEHAVIOR Buying behavior of final consumers
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CONSUMER MARKETS AND CONSUMER BUYER BEHAVIOR Buying behavior of final consumers
MODEL OF BUYER BEHAVIOR
Consumer buying behavior: • Buying behavior of final consumers • Purchase goods and services for personal consumption
Consumer market: • All individuals and households • Buy or acquire goods and services for consumption
INFLUENCE OF SOCIAL SCIENCE ON BUYER BEHAVIOR STUDIES
• Economics: Human is a rational buyer who wants to take maximum utility out of fixed/minimum price. • Psychology: Acc. To psychology any human activity is directed towards meeting certain needs. ( maslow`s Need Hierarchy) • Sociology & anthropology: Effect of reference group, society, role in society, etc.
BUYING BEHAVIOR MODEL The Economic Model: A man divide his fixed income in a certain raConal way.
Learning model: Behavior can be manipulated by the drives, sCmuli etc.
PsychoanalyCcal model: Consumer has the set of deep rooted moCves that drives him to purchase or not to purchase
BUYING BEHAVIOR MODEL • Nicosia Model: This Model establish the link between consumer and the firm.
v Advertising message of the firm influence the predisposition of the consumer
v The consumer develops the attitude for the product v Search for the information v If all these activities have positive impact, purchase the
product.
NICOSIA MODEL:
Advertise from firm
I Consumer
Search &
Evaluate
Act of Purchase
Use the item &
Feed back
1 2 3 4
All the ac)vi)es are divide into four basic fields: it has two subfields: Firm & consumer Adver)sing message by the firm, Depending upon the situa)on consumer develops the a?tude.
CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR Psychological Factors PercepCon is the process by which people select, organize, and interpret informaCon to form a meaningful picture of the world from three perceptual processes
• Selec)ve aBen)on • Selec)ve distor)on • Selec)ve reten)on
ARtudes describe a person’s relaCvely consistent evaluaCons, feelings, and tendencies toward an object or idea
BUYING MOTIVES
Product Motive (emotional & rational)
Patronage moCves
BUYING HABITS Buying habits vary according to the type of goods
FOUR TYPES OF BUYING DECISION BEHAVIOR
Based on: • Degree of involvement • Degree of perceived differences between brands • Influences promotional strategies
Complex Highly involved, significant brand differences Example – computer
Dissonance-reducing Highly involved, little brand differences Example – carpeting
Habitual Low involvement, little brand differences Example – salt
Variety-seeking Low involvement, significant perceived brand differences Example – cookies
FOUR TYPES OF BUYING DECISION BEHAVIOR
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