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Consumer Theory

The consumer behavior theory aims to understand people's needs and wants based on their purchasing decisions. It is important for businesses to understand as it helps them grow by improving their products and services based on consumer preferences, alternatives considered during shopping, and environmental influences. Key factors businesses analyze include consumer psychology, social lives, and personal details like age, gender, and location to understand routines, limited or extensive decision making, and impulse purchases. Different types of buyers prioritize quality, brands, enjoyment, prices, fashion, or spontaneity.

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ANNAJANELLA LOZARES
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41 views8 pages

Consumer Theory

The consumer behavior theory aims to understand people's needs and wants based on their purchasing decisions. It is important for businesses to understand as it helps them grow by improving their products and services based on consumer preferences, alternatives considered during shopping, and environmental influences. Key factors businesses analyze include consumer psychology, social lives, and personal details like age, gender, and location to understand routines, limited or extensive decision making, and impulse purchases. Different types of buyers prioritize quality, brands, enjoyment, prices, fashion, or spontaneity.

Uploaded by

ANNAJANELLA LOZARES
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Consumer

Behavior
Theory
PRESENTED BY: HISPANO, JEROME L.
The Consumer Behavior Theory is
the understanding of people's
needs and wants depending on
what they purchase on the market.
Why The Consumer Behavior
Theory Is Important

One factor is that it helps businesses understand their


consumers and how they respond to their wants, for them to
grow and improve their quality service and products. But That
aside, there are also other important factors that needs
understand on why its important:

What consumers prefer about the brand compared to


its competitors
How they choose alternatives
Their behaviour when shopping
How the environment around them influences their
behaviour
What marketing prices and strategies they best
respond to
Their methods of paying
What products or services they are searching for to fill
a need

Key Factors That businesses


Understand About Their Consumers
1. Psychology - Its common for 2. Social Life - Organizations
businesses to understand their somewhat have the
consumers personality traits, tendencies to identify their
their understanding of the customers' social life to
product and their preference. spread the news about their
product.

3. Personal - Businesses have already


familiarized with their consumers from
their age, gender, location and their
features.
Types of Consumer
Behavior
1. Routine Response 2. Limited decision-making
Brands can create an identity due the Most consumers can only carry
quality of the products that they what they need due to strict
produce. That is why some consumers budgeting commonly, this where
are quite selective with the products trade offs comes in.
they buy because of brand reputation.

4. Impulse buying
3. Extensive decision-making This is a kind of consumer where
This is the type of consumer that buys he/she casually spends on
expensive materials with the money that product with no little thought.
they have invested within the period of
time.
THE DIFFERENT TYPES OF
BUYER

looks for the best quality
Perfectionist: the customer
of product.
Brand-aware: the customer prefers brands and
designer labels.
Hedonist: the customer treats shopping as a form of
enjoyment.
Price-aware: the customer seeks low prices, sales, or
discounts.
Fashion-aware: the customer likes to be up-to-date
and seeks variety.
Impulsive: the customer is prone to spontaneous
purchases.
Confused: the customer experiences too much
information or choice.
Habitual: the customer is loyal to brands and follows a
routine
Thank you
FOR LISTENING!
Reference
https://fastpayltd.co.uk/blog/consumer-behaviour-theory-how-has-it-
changed/#:~:text=Consumer%20behaviour%20theory%20is%20the,consumer%20will%20make
%20a%20purchase.

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