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    Presented By:-Sherry MBA - 2 SEM

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    Sherry Kaushal
    Consumer behavior is defined as activities people undertake when obtaining, consuming, and disposing of products and services. There are seven stages in the consumer decision process: need recognition, information search, pre-purchase evaluation of alternatives, purchase, consumption, post-consumption evaluation, and divestment. Factors affecting consumer behavior include cultural, social, personal, and psychological factors. In recent years, Indian consumers have become more value sensitive, follow their culture closely, and prefer product features over brands. Understanding consumer behavior is important for companies to design optimal products and services for customers.

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    Presented By:-Sherry MBA - 2 SEM

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    Sherry Kaushal
    135 views40 pages
    Consumer behavior is defined as activities people undertake when obtaining, consuming, and disposing of products and services. There are seven stages in the consumer decision process: need recognition, information search, pre-purchase evaluation of alternatives, purchase, consumption, post-consumption evaluation, and divestment. Factors affecting consumer behavior include cultural, social, personal, and psychological factors. In recent years, Indian consumers have become more value sensitive, follow their culture closely, and prefer product features over brands. Understanding consumer behavior is important for companies to design optimal products and services for customers.

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    Consumer behavior is defined as activities people undertake when obtaining, consuming, and disposing of products and services. There are seven stages in the consumer decision process: need recognition, information search, pre-purchase evaluation of alternatives, purchase, consumption, post-consumption evaluation, and divestment. Factors affecting consumer behavior include cultural, social, personal, and psychological factors. In recent years, Indian consumers have become more value sensitive, follow their culture closely, and prefer product features over brands. Understanding consumer behavior is important for companies to design optimal products and services for customers.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    Download as ppt, pdf, or txt
    135 views40 pages

    Presented By:-Sherry MBA - 2 SEM

    Uploaded by

    Sherry Kaushal
    Consumer behavior is defined as activities people undertake when obtaining, consuming, and disposing of products and services. There are seven stages in the consumer decision process: need recognition, information search, pre-purchase evaluation of alternatives, purchase, consumption, post-consumption evaluation, and divestment. Factors affecting consumer behavior include cultural, social, personal, and psychological factors. In recent years, Indian consumers have become more value sensitive, follow their culture closely, and prefer product features over brands. Understanding consumer behavior is important for companies to design optimal products and services for customers.

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    of 40

    PRESENTED BY:-

    SHERRY
    MBA- 2nd SEM
    1) Definition of Consumer Behavior
    2) Need of Study of Consumer
    Behavior
    3) Consumer Decision Process Model
    4) Factors Affecting Consumer
    Behavior
    5) Changes in Consumer Behavior
     Consumer Behavior is defined as activities
    people undertake when obtaining , consuming
    and disposing of products and services.
    OBTAINING CONSUMING
    DISPOSING
    How You Decide How You Use The How you get rid of
    You Want To Buy Product Remaining Product

    Where You Buy Who Uses The Product How You Recycle It

    How You Transport How Much You Are You Going To


    Product Home consume. Resell.
     To Design the optimal product or services
    for customers.
     To Determine what price will the customer
    give up for purchasing product or service.
     To Determine where the product or
    services should be available so that it
    would be easy for the customer to buy.
     To Determine which method of promotion
    would be most effective for getting the
    customers to buy a product.
     It Helps in changing the behavior of the
    consumers.
     The Important reason for studying consumer
    behavior is the significance in our lives.
    Stage 1: Need (or Problem) Recognition:
    The starting point of any purchase decision is a
    consumer’s need or problem. Consumer buys the
    product if he believes that its ability to solve a
    problem is more than its cost of buying.
    Manufacturers must examine the needs of the
    consumers before making the product.
    Example of Need Recognition:
    Need of car to university going student who is
    wiling to spend 5 lacs.
    Stage 2 : Search For Information: Once need
    recognition occurs , consumers begin searching
    for information and solutions to satisfy unmet
    needs . The sources of information can be of 2
    types:
    1) Market-dominated source: Advertisements ,
    salesperson , websites etc…
    2) Non Market-dominated sources: Friends ,
    family , peers etc…
    Example of search for information:
    Now Student begin his quest of information
    Stage 3 : Pre-Purchase Evaluation of Alternatives:
    This includes evaluation of various alternatives
    identified during the search process. Factors
    affecting evaluation of alternatives are:
     Price
     Features
     Reliability
     Safety
    Example of Pre-Purchase evaluation of alternatives:
    After collecting information and compiling a list of
    models, he evaluate models on the basis of price,
    features, Style, safety, mileage, maintenance cost
    etc…
    Stage 4 : Purchase: After choosing the alternative,
    the customer decides from which retailer to buy
    the product. Factors influencing the consumer to
    choose the retailer are:
     Price Discount
     Influence of salesperson
     Availability of Product
     Credit Card Facility
     Location
    Example of Purchase: Student Choose a reliable, four
    door red car that priced under 5 lacs.
    Stage 5: Consumption:
    After Taking the possession of a product,
    Consumption can occur at the point at which
    consumer use the product. Consumption can either
    occur immediately or delayed.

    Durable Goods: consumption can be immediately or


    delayed.

    Perishable Goods: consumption occurs in short time.


    Stage 6 : Post Consumption Evaluation:
    The success of product depends upon its
    consumption i.e. how the consumer uses the
    product and how much he uses.

    Highly Satisfied

    When Expectation Matched

    Shorter Next Purchase Decision


    Stage 7 : Divestment:
    It is the last stage in consumer decision process. It
    include Reuse of Product Or Reselling. As in case
    of student car buyer, he has a choice of reselling or
    taking it to junkyard.
     Culture: It refers to set of learned beliefs , values ,
    attitude, morale ,customs ,habits and forms of behavior
    that are shared and transmitted from generation to
    generation.
     Sub-culture : A group of people with shared value
    systems
    based on
    common life
    experiences
    and situations.
    Example of cultural difference: People in north
    India splurge money on luxuries on the other
    hand people in south India prefer simple living.
    The first showroom of Mercedes was opened in
    Ludhiana owing to great scope
    Social Class : Almost every society has some
    form of social structure. Social classes are
    society's relatively permanent and ordered
    divisions whose members share similar values,
    interests and behavior
     Family: Family size and Family
    structure has considerable influence on
    consumer behavior.
     Reference Groups: Reference groups refers to
    persons with whom the customer interact while
    taking purchase decisions. There are 2 types of
    reference groups:
    1) Primary Group: Family , close friends , neighbors
    , relatives etc…
    2) Secondary Group: It refers to groups with which
    consumer interact occasionally like professional
    groups , salesman etc…
     Roles and status: A person belongs to many
    groups , family , clubs and organization . The
    person's position in each group can be defined in
    terms of both role and status.
    For example: "X" plays the role of father and
    husband in his family. In his company, he
    plays the role of manager, etc. A Role consists
    of the activities people are expected to
    perform according to the persons around
    them..
     Age and Life cycle: Purchasing tastes changes
    with age.

     Occupation: Occupation
    also shapes the pattern
    of consumer behavior.
     Economic Situation:
     Personal Income “HIGH” – Demands “HIGH”
     Personal Income “LOW” -- Demands “LOW”

     Personality and Lifestyle: Personality refers to


    traits such as self-confidence , sociability ,
    aggressiveness etc. Everyone has its own lifestyle
    , some lives simple lifestyle while other believes
    in materialism.
     Motivation: It is an inner drive that reflects goal directed
    arousal. It is the drive to satisfy needs and wants both
    physiological and
    psychological
    through the
    purchase and
    use of products
    and services.

    MASLOW THEORY
    OF MOTIVATION:
    Perception : Perception is the process by which
    person interpret and organize sensation to
    produce a meaningful experience of the world.
    Perception includes:
    I. Exposure to stimuli

    I. Interpretation of stimuli

    I. Ability to identify
    Learning: Learning is a behavioral modification that
    occurs through experience . For instance we may
    experience the sales people in one store being nicer
    to us than those in other . Thus we develop a
    preference for that store. Another example of
    learning is that people avoid to buy those food that
    they have consumed shortly before becoming ill.
    Beliefs and Attitude: A belief is a descriptive
    thought that a person has about something. A
    person may believe that a certain cooking oil “X”
    has the lowest fat and is best for health. This
    belief may be based on some real facts or may
    not be.
    Attitude refers to person’s consistently favorable
    and unfavorable evaluation or feelings towards a
    project or an idea.
     Indian Consumers became more value
    sensitive.
     They strictly follow their culture.
     They give preference to features of
    product rather than Brand name.
     Rural Indian Consumers showing signs of
    change.
     Emerging Trend of credit Shopping.
     Indian Consumers not confined to single
    brand.
     Tastes and Preferences of current
    generation are changing rapidly.
     Middle class Indian consumers provided
    a big boost to consumer buying culture.
     Indian companies are doing well.
     Price?
     Utility?
     Need?
    Consumer behavior plays an important role
    in the market . It is the consumer behavior
    that influences the sale of goods and
    services . While manufacturing goods ,
    manufacturer has to study consumer
    buying behavior so that the consumer’s
    unmet needs can be fulfilled and marketing
    strategies can be formulated in accordance
    with consumer behavior.
    FEEL FREE TO

    ASK QUERIES…

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