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Consumer Markets and Buyer Behavior

The document discusses consumer behavior and buyer behavior from multiple perspectives. It covers the field of consumer behavior, the factors that influence buying behavior including cultural, social, personal and psychological factors. It also outlines different buying roles, types of buying decisions, and methods used by marketers to understand buying behavior such as introspective, retrospective, prospective and prescriptive methods.

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shashankkapur22
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103 views19 pages

Consumer Markets and Buyer Behavior

The document discusses consumer behavior and buyer behavior from multiple perspectives. It covers the field of consumer behavior, the factors that influence buying behavior including cultural, social, personal and psychological factors. It also outlines different buying roles, types of buying decisions, and methods used by marketers to understand buying behavior such as introspective, retrospective, prospective and prescriptive methods.

Uploaded by

shashankkapur22
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Consumer Markets and

Buyer Behavior

 The field of Consumer Behavior:


“studies how individuals, groups, and
organizations select, buy, use, and
dispose of goods, services, ideas, or
experiences to satisfy their needs and
desires.”

1
How and Why
Consumers Buy

 Buying behavior is influenced by:


 Cultural factors
 Social factors
 Personal factors
 Psychological factors

2
Cultural factors:

 Values, perceptions, preferences etc.


 Determines person’s want and
behavior
 Subculture
 Caste based social classes - Relatively
homogeneous, hierarchically ordered, share
similar value interests and behavior.

3
Social Factors:
 Reference groups – have direct or indirect
influence on person’s attitude or behavior.
 Types of Reference Group:
 Membership
 Aspirational
 Disclaimant
 Avoidance
 Family – Each stage of Life-cycle creates
demand for different product.
4
Personal Factors:
 Age
 Stage in life cycle
 Occupation
 Economic circumstances
 Lifestyle – way of leading life
 Personality – Distinguishing psychological
characteristics that lead to consistent responses
to environment.
 Self-concept

5
Psychological Factors:

 Motivation – Need that is sufficiently pressing to


drive the person to act.
 Perception – Process by which an individual selects,
organizes and interprets information inputs to create
meaningful picture of the world.
 Learning – Involves changing in an individuals’
behavior arising from experience.
 Beliefs – Descriptive thought that a person holds
about something.
 Attitudes – Set of feelings that make a person react
to a given idea. 6
Buying roles

 Roles that a person plays in buying or using a


product.
 Initiator

 Influencer

 Decider

 Buyer

 User

 Maintainer

 Disposer

7
Types of Buying-Decision
Behavior

Difference Involvement Level


between High Low
brands
Significant
Complex Variety-
Differences buying seeking
behavior buying
Dissonance- behavior
Habitual
Few reducing
Differences buying buying
behavior behavior
8
How buying behavior is
understood by the Marketers?
 Introspective Method: How buyers will
themselves act?
 Retrospective Method: Ask purchasers to
recall the purchase event
 Prospective Method: How is a consumer
planning to buy a particular product?
 Prescriptive Method: Consumers describe
an ideal way to purchase the product
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