Podcast
Questions and Answers
What is formed when individuals develop an impression of a product or service?
What is formed when individuals develop an impression of a product or service?
Brand image
What influences decision-making through traits like dominance and self-confidence?
What influences decision-making through traits like dominance and self-confidence?
Personality
Which buying role initially suggests the idea of purchasing a particular product?
Which buying role initially suggests the idea of purchasing a particular product?
Initiator
Who directly or indirectly influences the final buying decision of others?
Who directly or indirectly influences the final buying decision of others?
What role restricts the flow of information during the decision-making process?
What role restricts the flow of information during the decision-making process?
Which buying role ultimately determines aspects such as what, when, and where to buy?
Which buying role ultimately determines aspects such as what, when, and where to buy?
What is loyalty towards repurchasing a product called?
What is loyalty towards repurchasing a product called?
What internal traits characterize individual behavior?
What internal traits characterize individual behavior?
What is consumer behavior?
What is consumer behavior?
Give an example of a situation where the buyer and the user of a product are different people.
Give an example of a situation where the buyer and the user of a product are different people.
How does age influence consumer demand?
How does age influence consumer demand?
How do education and occupation affect consumer behavior?
How do education and occupation affect consumer behavior?
Name one thing that the study of consumer behavior helps marketers determine.
Name one thing that the study of consumer behavior helps marketers determine.
What does the consumer seek?
What does the consumer seek?
How do economic conditions impact purchasing power?
How do economic conditions impact purchasing power?
What are the components of Lifestyles?
What are the components of Lifestyles?
What are available resources spent on?
What are available resources spent on?
What are the two constituents of consumer behaviour?
What are the two constituents of consumer behaviour?
Define motivation in the context of consumer behavior.
Define motivation in the context of consumer behavior.
Give an example of motivation.
Give an example of motivation.
What should effective marketing management be relevant to?
What should effective marketing management be relevant to?
What are individual consumers and Business Consumers examples of?
What are individual consumers and Business Consumers examples of?
How does perception influence consumer choice?
How does perception influence consumer choice?
How do consumers gain learning?
How do consumers gain learning?
What is the term for the anxiety a consumer feels after a purchase, thinking they might have made the wrong decision?
What is the term for the anxiety a consumer feels after a purchase, thinking they might have made the wrong decision?
What primarily leads to consumer satisfaction after a purchase?
What primarily leads to consumer satisfaction after a purchase?
During the 'Purchase Decision and Action' stage, what is something marketers can do to help consumers?
During the 'Purchase Decision and Action' stage, what is something marketers can do to help consumers?
What do consumers develop to guide their selection during the evaluation stage?
What do consumers develop to guide their selection during the evaluation stage?
What might a consumer do if the initial search results in unsatisfactory alternatives?
What might a consumer do if the initial search results in unsatisfactory alternatives?
Who typically plays the role of the buyer in a family decision-making process, especially for economic transactions?
Who typically plays the role of the buyer in a family decision-making process, especially for economic transactions?
What role does the mother often play when buying baby products?
What role does the mother often play when buying baby products?
Who is the 'user' in the context of consumer behavior?
Who is the 'user' in the context of consumer behavior?
In a family, who usually takes on the role of the 'preparer' for food items?
In a family, who usually takes on the role of the 'preparer' for food items?
What is the role of a 'maintainer' in the context of consumer goods?
What is the role of a 'maintainer' in the context of consumer goods?
Who is the 'disposer' in a family setting, particularly after a product has been consumed?
Who is the 'disposer' in a family setting, particularly after a product has been consumed?
What is the first stage of the consumer decision-making process?
What is the first stage of the consumer decision-making process?
What happens during the 'Information Search' stage of the consumer decision process?
What happens during the 'Information Search' stage of the consumer decision process?
What type of staple food do people in North India generally prefer?
What type of staple food do people in North India generally prefer?
What is a reference group composed of?
What is a reference group composed of?
Name one social factor that influences consumer buying decisions.
Name one social factor that influences consumer buying decisions.
What is one example of a product that is promoted through reference groups of organic product users?
What is one example of a product that is promoted through reference groups of organic product users?
How do roles and status influence marketing strategies?
How do roles and status influence marketing strategies?
What creates almost identical demand patterns in any society?
What creates almost identical demand patterns in any society?
What stages affect a consumer's demand for goods?
What stages affect a consumer's demand for goods?
What consumer groups indicate their unique demand-pattern in consumption-behaviour?
What consumer groups indicate their unique demand-pattern in consumption-behaviour?
Flashcards
Consumer Behaviour
Consumer Behaviour
The study of how individuals decide to spend resources (time, money, effort) on consumption-related items.
Consumer
Consumer
Someone who uses a product; may or may not be the buyer.
Buyer
Buyer
Someone who purchases a product; may or may not be the end user.
Buyer vs User
Buyer vs User
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Marketing Mix & Consumer Behavior
Marketing Mix & Consumer Behavior
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Consumer Value
Consumer Value
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Evaluation Stage
Evaluation Stage
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Purchase Decision
Purchase Decision
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Post-Purchase Satisfaction
Post-Purchase Satisfaction
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Post-Purchase Dissatisfaction
Post-Purchase Dissatisfaction
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Cognitive Dissonance
Cognitive Dissonance
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Cultural Influence
Cultural Influence
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Sub-culture
Sub-culture
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Social Class
Social Class
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Social Factors
Social Factors
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Family Influence
Family Influence
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Reference Groups
Reference Groups
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Roles and Status
Roles and Status
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Age and Life-cycle Stage
Age and Life-cycle Stage
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Consumer Beliefs and Attitudes
Consumer Beliefs and Attitudes
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Brand Image
Brand Image
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Personality (in consumer behavior)
Personality (in consumer behavior)
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Initiator (Buying Role)
Initiator (Buying Role)
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Influencer
Influencer
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Decider
Decider
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Influencer (Buying Role)
Influencer (Buying Role)
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Gatekeeper (Buying Role)
Gatekeeper (Buying Role)
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Decider (Buying Role)
Decider (Buying Role)
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Preparer
Preparer
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Maintainer
Maintainer
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Disposer
Disposer
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Problem Recognition
Problem Recognition
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Age and Consumer Demand
Age and Consumer Demand
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Education, Occupation and Spending
Education, Occupation and Spending
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Economic Conditions and Purchasing Power
Economic Conditions and Purchasing Power
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Defining Lifestyles
Defining Lifestyles
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Motivation
Motivation
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Perception
Perception
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Learning
Learning
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Learning in Consumer Behavior
Learning in Consumer Behavior
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Study Notes
- Consumer behaviour studies how individuals decide to spend resources on consumption-related items.
- It looks at 'what, why, when, where, how often' consumers buy and use products.
Constituents of Consumer Behaviour
- Consumer behavior involves both the consumer and the buyer.
- "Consumer" refers to someone who uses a product.
- "Customer" refers to someone who purchases a product, whether or not they use it themselves.
- Consumers can be individual or business consumers.
- "Buyer" refers to someone who buys a product.
- The buyer may not be the user of the product.
Importance of Studying Consumer Behavior
- Studying consumer behavior is crucial for effective marketing management and strategy.
- Knowledge of consumer behaviour helps determine the marketing mix.
- Management explores what products consumers buy, their motivations, and brand preferences.
- This gives producers insight into arranging the marketing mix for their products.
- Assessing consumer actions or reactions helps marketers understand the value consumers seek.
- Consumers want lower prices but expect superior features.
- Marketers can introduce quality products at affordable prices based on this.
- Consumer preferences relate to globalization and increased choice availability.
- Knowledge of consumer behavior guides planning and implementing marketing strategies.
- Studying consumer behavior helps businesses achieve their goals.
- It is important to address special needs, personalities, and lifestyles of consumers.
- Consumers prefer differentiated products.
- Consumer behavior study helps satisfy those special needs.
- It can help to identify market segmentation.
- This aids in classifying market segments for effective product marketing.
- It can help to remain updated with technological advancement.
- Studying consumer behaviour is imperative to know consumers' expectations.
- Identification of target market before production is essential to consumer satisfaction.
Factors Affecting Consumer Buying Behavior
- Factors are interdependent and can be divided into cultural, social, psychological factors.
Cultural Factors
- Culture combines values, beliefs, religions, and customs that influence consumer behavior.
- Cultural studies include religion, customs, language, traditional arts, and work patterns.
- Culture is prescriptive, socially shared, and cumulative; thinking patterns pass through generations.
- Sub-cultures indicate unique demand-patterns in consumption-behaviour.
- Social class creates almost identical demand patterns.
Social Factors
- Family and reference groups play a significant role in determining consumer behavior.
- Consumer buying decisions are influenced by economic conditions, role and status in society and reference groups.
- Income affects purchasing habits (branded products vs. local markets).
- Reference groups consist of people with common goals and values.
- Reference groups influence purchases through recommendations and information.
- Roles and status affect purchasing decisions, with marketers tailoring products to customer requirements.
Age/Life-cycle Stage
- Age is an important determinant of goods demanded by a consumer.
- Young consumers demand trendy clothes and recreational facilities.
- Elderly consumers demand medicines and healthcare facilities.
Education and Occupation
- The level of education and occupation of the consumer also decides his/her consumption behaviour.
- Business executives go for expensive business suits and electronics.
- Clerks buy simple clothes and cheaper goods.
Economic Conditions
- People in the high income bracket have higher purchasing power.
- People in low income brackets buy cheaper goods.
Lifestyle
- Lifestyles can be identified by observing activities, interests, opinions, and demographics.
Psychological Factors
- Marketers need to understand a consumer's psychology.
- This helps understand how consumers think, feel, reason, react, and select alternatives.
Motivation
- Motivation drives consumers to develop a purchasing attitude to act.
Perception
- A person's perception influences their attitude toward a product or service.
Learning
- Learning comes through experience and influences future purchases.
Beliefs and Attitudes
- Individuals form images of products, influencing purchasing decisions.
Personality
- Personality influences decision-making and buying behavior.
Buying Roles
- Individuals play diverse roles in the decision process, including initiator, influencer, gatekeeper, decider, buyer, user, preparer, maintainer, and disposer.
- Initiator: Suggests the purchase.
- Influencer: Has influence on the decision.
- Gatekeeper: Controls information flow.
- Decider: Determines buying aspects.
- Buyer: Makes the actual purchase.
- User: Uses the product.
- Preparer: Prepares the product for use.
- Maintainer: Services the product.
- Disposer: Disposes of the product.
Consumer Decision Process
- Consumers follow a step-by-step process when making a purchase decision.
- The time and effort depend on the necessity of the good or service.
Consumer Decision Process Stages
- Problem Recognition: Consumer recognizes the difference between their current and ideal state.
- Information Search: Consumer gathers information related to the product.
- Evaluation of Alternatives: Consumer evaluates options.
- Purchase Decision and Action: Consumer makes the final decision, marketers can help by smoothing the process. Post-Purchase Evaluation: Purchase results in satisfaction or dissatisfaction.
- Satisfaction: Consumer feels satisfied if the reduction of the gap between the actual and the ideal states.
- Dissatisfaction: Consumers might experience post purchase anxieties, and marketers can help by providing positive communications.
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Description
This lesson explores consumer behavior concepts, including roles in buying decisions like influencers and gatekeepers. Learn about factors influencing consumer choices, from product impressions to internal traits. Understand how marketers use consumer behavior to determine marketing strategies.
