Vivekanand Shikshan Sanstha’s

VIVEKANAND ARTS SARDAR DALIPSINGH

COMMMERCE & SCIENCE COLLEGE, SAMBHAJINAGAR
Project Report on
‘CONSUMER BEHAVIOUR”
AT
RAMDEO REFINERY
Submitted to
DR. BABASAHEB AMBDKAR MARATWADA
UNIVERSITY, SAMBHAJINAGAR
UNDER THE GUIDENCE OF
Dr. VAIBHAV TAYDE
Submitted by
Miss. ISHWARI SHINDE NARENDRA
BBA 3rd year (VI semester)
For the academic year 2023-24

ACKNOWLEDGEMENT
I would like to express my immense gratitude towards this institution, Vivekanand Arts Sardar
Dilipsingh Commerce and Science College, Sambhajinagar which created a great Platform to attain
profound technical skills in the field of BBA, thereby fulfilling our most cherished Goal.

I would thank to Mr. Mukesh Nyati (Manager) & all the members of OIL REFINERY, Shrirampur for
guiding and helping me in successful completion of the project.

I sincerely express my gratitude to the Director, Dr. Ashok Gaikwad for his inspiration and Timely
support in successful completion of my project work.

I am very much thankful to our course coordinator Dr. Gopal Balloj and my Project Guide Dr.
Vaibhav Tayde for extending their valuable guidance and cooperation in completing this in Plant
project Report.

Last but not least, I would like to convey my thanks to my beloved parents, friends and my Faculties
who helped me directly or indirectly in completing this project successfully.
 VIVEKANAND ARTS SARDAR DALIPSHING COMMERCE & SCIENCE
COLLEGE, AURANGANBAD.

CERTIFICATE

This is to certify that the project report entitled "Consumer Behaviour” completed at “Ramdeo Oil
Refinery” is submitted by Ishwari Narendra Shinde” .This project report is as per the requirement of Dr.
Babasaheb Ambedkar Marathwada University, Chh. Sambhajinagar and submitted in partial fulfilment of
program Bachelor of Business Administration ( Sixth Semester) for the academic year 2023-2024.

Project guide Course coordinator HOD

Dr. Gopal Balloj Dr. Ashok Gaikwad

 DECLARATION

I hereby declare that the project entitled submitted on "CONSUMER BEHAVIOUR" at OIL
REFINERY SHRIRAMPUR in partial fulfillment of the requirements for award of the degree
of
BBA, Vivekanand Arts Sardar Dilipsingh Commerce and Science College, Sambhajinagar is an
Authentic work and has not been submitted to any other university / Institute, For award of any
degree / diploma.

Ishwari Narendra Shinde

 INTRODUCTION
The psychology of consumer behavior, including the subconscious factors that drive consumers’
actions, is nothing short of fascinating.

Consumer behavior is the study of the elements that influence individuals’ purchasing
decisions, including environmental, psychological, and societal factors. Using data, marketers
can gain an understanding of how consumers choose products or services, the thought and/or
emotional process behind those decisions, and what motivates them to choose one product
instead of another. All of this can help marketers craft hyper-targeted advertising
campaigns designed to pique the interest of their consumer base.
For example, clothing retailer H&M took a tactical approach to its digital marketing efforts when
it partnered with model Ela Velden and fashion blogger Julie Sariñana to showcase its clothing
on Instagram. The goal of the widely successful campaign was to tap into consumers’ tendency
to trust industry experts. In this instance, H&M wanted to target millennials and Generation Z,
knowing that a social media influencer campaign would likely resonate.
Vitamin manufacturer Nature Made tapped into consumers’ “herd behavior” tendencies when it
crafted a campaign for its gummy vitamins. In addition to using the United States Pharmacopeial
(USP) seal on its ad, which demonstrated the product was endorsed for its purity of ingredients,
the ad also featured one of the company’s vitamins being held between the thumb and forefinger
of a child. The tagline was simple, yet effective: “We’d vouch for [our vitamins’] purity and
potency, but an independent party already has.” Not only did the ad resonate with those who saw
it, the specific, targeted messaging helped drive the product’s sales.
Marketers who study consumers’ behavior patterns often find they are successful in using this
information not only to attract new customers, but they’re also successful in using it to retain
their current clientele. As such, to be successful in this field, marketing professionals must gain a
deep understanding of what drives consumer behavior, including the psychological, personal,
and social factors that influence purchasing decisions.
The Factors That Drive Consumer Behavior

To understand consumers’ behavior, marketers must first understand what drives their
purchasing decisions. For example, studies have shown that familial factors, such as having
children, can play a role in which products consumers buy. Individuals’ perception of a brand,
and whether owning a high-value item, such as a Rolex watch, is important to their self-identity
can also affect purchasers’ decision-making. Shoppers’ age and gender have also been proven to
impact how and why they make purchases.

Psychological Factors

There are a variety of psychological factors that play a role in consumers’ buying behavior. For
example, marketers need to understand how buying patterns are influenced by factors such as
whether individuals are more likely to make purchasing decisions based on needs versus wants.
Individuals’ perception of a brand can also influence their buying decisions.
Brand Perception and Exclusivity

Consumers’ perception of a brand will often determine what they buy. For example, some people
prefer to spend money on brand-name clothes and products, such as Versace belts and Louis
Vuitton purses. In this demographic, high-ticket, luxury items are viewed as status symbols, and
buyers who spend money on them are drawn to exclusivity. Some brands, such as Kanye West’s
Zeezy sneakers, have launched successful limited-release trends to capitalize on scarcity to drive
sales.
Brand Perception and a Desire to Buy “the Best”

A second component of brand perception relates to how good a product or service is when it is
compared to its competitors. If someone believes that Apple laptops are the best on the market,
they will be more likely to buy a Mac when they purchase their next computer. Apple is
the world’s most valuable brand according to Forbes, largely due to high customer
satisfaction and a sense of loyalty among consumers.
Perception and Individual Thinking Patterns

Individuals’ perceptions and thought processes also play a role in what they purchase. For
example, if Anne and Jane are working late, they may decide that takeout is their best dinner
option. Although the primary motivating factor in placing the order is hunger, their perception of
the menu items can play a role in what they choose. Anne might order a simple salad, because
she believes that’s most healthy, whereas Jane might choose a platter of grilled chicken and
vegetables, based on her perception of what a healthy meal is supposed to look like.
Personal Factors

Personal factors, such as an individual’s gender and culture, and whether they understand how
the product can be used to solve a problem, such as how microwave-safe food containers can
help with meal preparation, have also been proven to affect which products and services
consumers buy.

Age

Consumers of varying age groups are often drawn toward different types of products. For
example, new parents in their early 20s who are raising a child are likely to buy different baby
products than new parents who are in their early 40s. Marketers who understand the age groups
they’re targeting are well-positioned to develop appropriate products and advertising campaigns
for each demographic. Consumers’ age groups can also determine whether advertising dollars
are best spent on newspaper print ads or social media influencer campaigns.

Gender and Sexual Orientation

Recent research has shown that in many households, women are the primary decision-makers
when it comes to purchases. Inc. reports that among couples, women do most of the shopping
and make 70% to 80% of the purchasing decisions. Marketers may promote different aspects of a
product depending on which gender they are targeting. For instance, men typically look at
specific attributes of a product, while women focus on the qualities as a whole, according to
the Houston Chronicle. However, some marketers are adopting less narrow gender parameters to
appeal to younger generations. Companies are evolving their strategies to cater to individual
preferences, instead of making stereotypical assumptions based on gender or sexual identities.
Culture and Background

Successful marketers understand how factors such as nationality, religion, and cultural values
play a role in consumer behavior. For example, in some countries, such as China and Japan,
people are more inclined to make purchases that improve the welfare of a group, such as their
family. In the United States, on the other hand, purchasing decisions tend to be more
individualized and correlate more to consumers’ personal preferences.
Habits, Interests, and Lifestyle

All consumers have buying habits that are linked to their interests, and marketers must
understand who the target audience is for the product or service they are selling. For example, a
waterproof, multiuse backpack manufacturer may find it is more successful in marketing to
outdoor enthusiasts who like to hike and fish than to stay-at-home moms.
Social Factors

Social factors, such as buyers’ income level, where they live, and their family dynamic, may also
play a role in the types of products and services they spend their money on.

Interactions Within Community-Driven Environment

Consumers’ desire to fit in with their friends, peers, and coworkers often plays a role in their
purchasing decisions. For example, if most employees at Company X drive a particular brand of
luxury vehicle, when other employees buy new cars, they’re likely to choose something similar.
It’s all a matter of “keeping up with the Joneses.”

Income Level

The income level of consumers correlates closely with their buying patterns. Whereas low-
income consumers may be concerned with buying based on needs versus wants, high-income
individuals often have more expendable income and, thus, may be inclined to buy products based
on wants instead of needs.

Living Conditions

Living conditions, such as whether individuals rent or own their home, along with the
neighborhood in which they live can also play a role in consumers’ decision-making. For
example, in-home appliances, such as refrigerators and dishwashers, are bought more frequently
by homeowners than people who rent. An individual who lives in the suburbs will be more likely
to have a swimming pool than someone who lives in a downtown high-rise. The promotion of a
product or service is most successful when it targets the right group.

Family Dynamic

A 2019 article by Marketing Charts reported that in addition to family members having a strong
influence on what children buy, 87% of parents surveyed said that their purchasing decisions are
influenced by their children. Children were found to have the most influence over the purchase
of toys, games, clothes, dining out, events, and outings.
Consumer Behavior Types

Experts agree that there are four main types of consumer behavior: complex-buying behavior,
dissonance-reducing buying behavior, habitual buying behavior, and variety-seeking buying
behavior. Studying these behaviors can help marketers understand the types of things that may,
and may not, influence a purchasing decision.

For example, individuals who are looking to buy an expensive item, such as a boat, are going to
be influenced by different factors than individuals who are researching a less expensive
purchase, such as a hair dryer. Understanding the factors that can influence a consumer to say
yes instead of no can help in designing targeted marketing strategies.
Complex Buying Behavior

Complex buying behavior occurs when an individual buys an expensive and infrequently
purchased product, such as a car, new home, or treadmill. Consumers are often highly involved
with this type of purchase, and they take time to research the significant differences between
various brands. Complex purchases often involve a deep sense of buyer commitment based on
their associated costs.

Dissonance-Reducing Buying Behavior

Dissonance-reducing buying behavior occurs when a consumer is highly involved in the

purchase of an item, but they have a hard time pinpointing the difference between various
brands. For example, if someone wants to purchase a flat-screen TV, and each model they are
looking at has the same screen resolution, they may feel a strong sense of conflict or tension. The
“dissonance” occurs when a consumer is worried they will make the wrong choice and will
regret their decision later. Dissonance-reducing buying behavior can also happen with other
types of purchases, such as lawnmowers and engagement rings.
Habitual Buying Behavior

Habitual buying behavior happens when consumers purchase something on a regular basis, but
they are not emotionally attached to a brand. The purchase of items such as bread, milk, eggs,
and gasoline are possible examples of habitual buying behavior.

Variety Seeking Buying Behavior

Variety seeking buying behavior happens when individuals decide to buy a different product in
the same product line, such as a new brand of toothpaste, not because they were dissatisfied with
their initial purchase, but because they want to try something new. Other examples may include
buyers opting for a new brand of cologne or a new type of hair styling product.

Other Factors That Influence Consumer Behavior

Although each of the types of buying behavior is slightly different from the rest, these four
categories do share certain commonalities. For example, the purchasing process is often initiated
when a consumer identifies a need, regardless of whether that need is for groceries, an appliance,
or a new vehicle. Other factors that influence buyers’ behavior include where a purchase is made
and how it is being paid for.

Online vs. In-Store

Where a purchase is made — such as through an online portal like Amazon or Target.com or at a
brick-and-mortar store — can play an enormous role in buyers’ behavior. For example, Amazon
uses its product recommendation algorithm to recommend a range of products to its users, based
on the categories they’ve been browsing, and individuals who are shopping for laptop computers
may also see recommendations for mouse pads, printers, and anti-glare screen covers.
In contrast, similar levels of targeted upselling aren’t always standard at a brick-and-mortar
store. Businesses have also seen an increased demand for online purchasing options. Ecommerce
transactions with U.S. merchants were valued at $601.8 billion in 2019, up 15% from $523.6
billion in 2018, according to U.S. Department of Commerce data analyzed by Digital Commerce
360.
Cash, Credit, or Internet Account

A March 2019 study by the Journal of Retailing and Consumer Services notes that payment
methods, such as debit and credit cards, can lead to upticks in consumer spending. The speed and
ease of how payments are made can also play a role. For example, a 2018 study by IPSOS found
that consumers are 54% more likely to buy when a business accepts payment via an internet
account, such as PayPal.
In contrast, consumers who prefer to pay using cash are more likely to restrict their spending
because, from a psychological perspective, every purchase is interlinked with an actual parting
with physical money.

Integrating Consumer Behavior Patterns in Marketing Strategies

Marketing experts agree that there are numerous reasons for businesses to integrate consumers’
behavior patterns into their marketing strategies. For example, when marketers understand why
people buy, they can craft their messaging and devise their branding strategy accordingly.
Understanding consumer behaviors can also impact how companies determine pricing strategies.
Knowledge of buyers’ behavior patterns can further help companies understand how they can
increase their consumer base on social media platforms such as Instagram and Twitter.

Branding Strategies

Branding strategy is about more than creating a logo and a tagline. For a brand to be successful,
it must understand who its customers are, the problem it solves for those customers, and the
personality it wants to convey via marketing efforts. Companies must understand why their
brand exists, what purpose it serves, and the problem it fixes, to effectively communicate their
brand’s story.
Technology

Marketers must also understand how tech-adapted their target clientele is. For example, if a
brand’s target demographic is college degree holders over the age of 65, it may not be inclined to
spend its marketing dollars on Instagram ads, since Instagram is not a place where that
demographic spends much time. Technological advances in areas such as voice-activated
searches can also be used to collect data that, in turn, can be used to provide data-driven insights
into consumer behavior. Marketers should also consider whether target audiences are
comfortable shopping online, or whether they prefer in-person shopping experiences.

Engagement

Marketers who study buyers’ behavior patterns understand how to use a brand’s identity to
connect with its client base. In addition to helping cultivate stronger relationships with current
and potential customers, developing a deep knowledge of consumer behavior can also help
marketers forge communication and engagement strategies.

For example, in 2013, Starbucks’ Tweet-a-Coffee campaign, which allowed Twitter users to buy
$5 virtual gift cards for their friends via tweet, generated $180,000 in gift-card revenue in its first
month. In addition to promoting brand awareness, the campaign brought additional foot traffic
into Starbucks stores. The promotion was among the first of its kind, and it not only gave the
coffee retailer a valuable tie-in between their clients’ Twitter accounts and mobile devices, it
provided it with the email addresses for all gift card buyers and recipients.
Starbucks’ early understanding of how to use social media to capitalize on consumer behavior
patterns led to the creation of one of the most successful social media marketing campaigns of all
time.

Resources: Tools That Marketers Can Use to Research Consumer Behavior

Marketers can use a variety of tools to research consumer behavior. Below are just a few of the
resources they use to gain insights:

 Crystal
 HubSpot
 Intercom
 Square Customer Engagement
 SumoMe Heat Maps
 Trifacta
 Userlane
 Vertica

Choosing a Career in Marketing

The fields of marketing and digital advertising are evolving rapidly, which is creating numerous
career opportunities for qualified professionals. Today’s companies are not only seeking
professionals who are multifaceted in their approach, they’re seeking candidates who understand
the many facets of consumer buying behavior.

Individuals who have an interest in pursuing jobs in these fields should start by developing the
knowledge and skills they’ll need to be successful. Consequently, completing a bachelor’s
degree in marketing from an accredited institution is an important first step. Although there are
numerous bachelor’s degree programs to choose from, it’s best to take your time and research all
of your options. This will help you choose the school and degree program that’s right for you.
 ORGANIZATIONAL PROFILE

RAMDEO OIL REFINERY

600 TPD SOYBEAN CLEANING, WARM DE-HULLING, EXPANDER SECTION WITH

KUMAR CONTINUOUS SOLVENT EXTRACTION PLANT & CROWN DTDC, MIDDLE EAST
EST-1939
 Registered in 2014 ,India Ramdev Refinery Ltd. has gained immense expertise in supplying & trading of
Edible oil etc. The supplier company is located in Shrirampur, Maharashtra and is one of the leading
sellers of listed products. Buy Edible oil in bulk from us for the best quality products and service.

OBJECTIVES OF THE STUDY

 Product design

Product design is the process of ideating, developing, and refining products that meet specific market
needs and solve user problems. A product designer helps create products that delight customers by
defining product and business goals, and anticipating market opportunities and user needs.

Market
Consumer behavior observes how people choose, use, and discard products and services,
encompassing their emotional, cognitive, and behavioral reactions. Understanding consumer
behavior is key for businesses trying to orchestrate impactful marketing tactics that
shapeconsumer decision-making pathways.

Apply insights
Application Insights collects telemetry about your app, including web server telemetry, web page
telemetry, and performance counters. This data can be used to monitor your app's performance,
health, and usage. You can select the location when you create a new Application
Insights resource.

Competition
It is well known that the level of competition in an industry is a key determinant of the marketing
strategy for the bidders participating in a market. On the other hand, the consumers' reactions to
the actions of organizations are an indicator to follow when defining the companies'
marketing strategies

Derivative
The derivative is a fundamental tool of calculus that quantifies the sensitivity of change of a
function's output with respect to its input. The consumer equilibrium formula is
MUx/Px=MUY/PY=MU of the last cost spent on each commodity. The MU or marginal utility
of commodity X cost of product in terms of cost s is equal to the cost of the commodity X in
cost s (MUx = Px).
 Forecasting
Forecasting involves making predictions about the future. In finance, forecasting is used by
companies to estimate earnings or other data for subsequent periods. Traders and analysts use
forecasts in valuation models, to time trades, and to identify trends. Forecasts are often
predicated on historical data.

Marketing
Marketing refers to activities a company undertakes to promote the buying or selling of a product
or service. Marketing includes advertising, selling, and delivering products to consumers or other
businesses. Some marketing is done by affiliates on behalf of a company.

Innovate new products

3 stages of product innovation process

Create customer segments. Divide your customers up using their common characteristics such as
behaviors and demographics.
Collect customer feedback.
Think of ways to improve per customer needs.
Prioritize new development opportunities.
Build a prototype to test customer response.

Policy
Consumer policy aims at protecting and empowering consumers. Consumers are a very large
group but they suffer problems of collective actions. This is why governments, consumer
organizations, and companies apply tools such as bans, regulations, advice, litigation, or self-
regulatory standards.

Decision Making
Decision making is the process of making choices by identifying a decision, gathering
information, and assessing alternative resolutions. Using a step-by-step decision-making process
can help you make more deliberate, thoughtful decisions by organizing relevant information and
defining alternatives.
 Customer Retention
Customer retention definition: a company's ability to turn customers into repeat buyers and
prevent them from switching to a competitor. Customer retention indicates whether your product
and the quality of your service please your existing customers.

Customer new Concerns of Customers

1. Ask for referrals. Referrals are one of the best ways to get new customers—but if you sit back
and wait for your current customers to refer their friends and family members to you, you could
be waiting a long time. Take charge by implementing a system for actively soliciting referrals
from your satisfied customers. Build referral-generating activity into the sales process. For
example, send a follow-up email asking for a referral after a customer has received their order
from your e-commerce site. Have your B2B salespeople ask for referrals when they follow up
with customers to answer questions after the sale.

2. Network. Generate good old-fashioned word-of-mouth by participating in networking

organizations and events relevant to your industry and your customers. Be sure to approach
networking with the attitude, “How can I help others?” rather than “What’s in it for me?” By
thinking about how you be of service, you’ll build relationships that lead to new customers.

3. Offer discounts and incentives for new customers only. Introductory offers, such as a two-
week course at your karate studio for $100, can lure curious customers in your door by providing
a low-risk way to try your products or services. Track which customers redeem the special offer,
then target them with marketing message encouraging and enticing them to keep buying from
you.

4. Re-contact old customers. Everything old can be new again—including old customers who
haven’t done business with you in a while. Go through your customer contacts on a regular basis
and, after six months or a year without an interaction or purchase, reach out to dormant
customers with a special offer via email, direct mail or phone. They’ll be glad you remembered
them and want to win them back.
5. Improve your website. These days, consumers and B2B buyers alike find new businesses
primarily by searching online. That means your website has to do some heavy lifting to attract
new customers. Give your website a once-over to make sure that the design, content, graphics
and SEO are up-to-date. If this isn’t your strong suit, it’s worth enlisting the services of a website
design company and/or SEO expert to help.

6. Partner with complementary businesses. Team up with businesses that have a similar customer
base, but aren’t directly competitive, and strategize how you can target each other’s customers to
drive new business to each other. For example, a maternity clothing website and a baby products
website could pair up to offer discounts and deals to each other’s customers.

7. Promote your expertise. Generate interest—and new customers—by publicizing your expertise
in your industry. Participating in industry panel discussions or online webinars, speaking at
industry events or to groups your target customers belong to, or holding educational sessions or
workshops will impress potential new customers with your subject expertise.

8. Use online reviews to your advantage. Does your business get online reviews from customers?
Cultivate your reviews and make the most of them. Link to reviews on your website and post
signage in your location urging customers to check you out on Yelp (or wherever the reviews
are). Social proof is powerful, and new customers are more likely to give your business a try if
they see others praising it.
9. Participate in community events. All else being equal, most people like to support independent
businesses in their communities. Raise your profile in your community by taking part in charity
events and organizations. Sponsor a local fun run, organize a holiday “toys for kids” donation, or
supply a Little League team in your city with equipment. It gets your name out there, which
helps bring in new customers.

10. Bring a friend. Offer 2-for-1, “buy one, get one free” or “bring a friend” deals to get your
“regulars” to introduce new customers to your business. For instance, a restaurant could offer a
“buy one entrée, get a second for free” special to attract more customers. You can even get
specific: “Invite a friend to try our new happy hour specials!” to let customers know you're
looking to introduce your business to a wider customer base.

Improve Customers Service

Whether you’re working in a customer-facing role, managing a team in a contact centre or

looking to improve customer experience on a company-wide level, use these customer service
tips and skills to make sure you’re at the top of your game. What is customer service?
Customer service is the practice of providing help and support to both new and existing
customers. It can take place before, during, and after a sale. It is an essential part of the overall
customer experience.

The traditional image ‘customer service’ conjures is most likely a customer service
representative with a headset, solving problems over the phone. While the call centre is still an
integral part of customer service offerings, it’s actually just a small part of the bigger picture.

Customer service happens on every digital channel, as well as in person. Customer service is
replying to social media outreach and greeting customers as they walk into a store. It’s solving
issues after a sale, but it’s also informing people still considering your product.

Customer service also isn’t just human to human. AI-driven chatbots and automated self-serve
platforms are a vital part of successful customer service, as is streamlined UI design. In essence,
customer service is as simple as it sounds: it’s everything you can do, in any capacity, to help
serve your customers. Why is great customer service important?
Your customers are the lifeblood of your business, so it’s crucial that they always feel valued,
assisted, listened to, and confident when they interact with you.

There’s an oft-repeated stat in business circles that it costs a lot less to keep existing customers
than it does to attract new ones. In general, some 65% of sales tend to come from existing
customers, which makes an obvious case for ensuring that those customers continue to choose
you over your competitors. Salesforce, for example, found that 80% of customers believe that the
overall customer experience is as important as products or services.

Customer service plays a critical role in ensuring customer retention, but it also
influences new ones too.
 SCOPE OF THE STUDY

The reason for a business firm to come into being is the existence of a consumer who has
unfulfilled needs and wants. To fulfil these consumer needs an organization is set up. In your
professional capacity you may also be a part of one such business organization. But as part of the
organization, have you ever wondered about who are the consumers of your products and
services? Why do these consumers buy your brand and not that of the competitors? How do your
consumers perceive your product fulfils their needs? After having bought your product do they
feel satisfied or dissatisfied? And how are these feelings reflected in their behaviour as
consumers? It is important to the survival and growth of your organization that you regularly
raise such questions and attempt to find answers to them. It is only through such a process of
questioning and seeking that you can be sure of keeping your firm on the growth path. A
thorough knowledge of your consumers and an understanding of their behaviour (as consumers)
are essential if you wish to continue to remain in business. This and the following units in this
book provide you an insight into the subject of consumer behaviour. After having read this unit
you would be able to spell out who are consumers, why they behave in the manner that they do,
what influences their behaviour and how you as a marketer can manipulate the influencing
factors in your favour. This is the most important aspect of consumer behaviour which has
practical action implications for each business firm. Once having understood the behaviour of
consumers and knowing that their behaviour can be influenced, you can initiate a number of
steps to do so. This unit covers the nature, scope and applications of consumer behaviour.

NATURE OF CONSUMER BEHAVIOUR Consumer behaviour can be defined as: "The

decision process and physical activity engaged in when evaluating, acquiring, using or disposing
of goods and services." This definition raises a few queries in our minds-what or who are
consumers? What is the decision process that they engage in? Answers to these questions help
define the broad nature of consumer behaviour. We have defined consumer behaviour as the
"decision process" and "physical activity" engaged in by individuals. The physical activity which
we focus upon in the course of consumer behaviour is that of making the purchase, as explained
in the previous section. But there are a number of influences affecting the purchase and a number
of individuals maybe involved in exerting these influences. So the purchase action that is visible
to us maybe the result of a interplay of a number of complex and hidden variables which may
have influenced the ultimate purchase activity. The final purchase is just one activity in the entire
series of physical and mental activities that may have occurred in this whole process. Some of
these activities may precede the purchase while others may take place later. But because all these
activities exert influence on the purchase they are considered a part of consumer behaviour, more
specifically a part of the decision process. Let us go back to the example of a father, we call Mr.
Bannerjee. buying a TV for his family. It is possible that the consumer behaviour involving
mental processes and activities may have taken place in the following sequence and manner. Mr.
Bannerjee's teenage daughter, sees a new colour TV at her friend's house. She then raises the
issue of buying a colour TV to replace then existing black and white TV. The family discusses
the issue and agrees that it is indeed time they bought a colour TV. The next day Mr. Bannerjee
discusses the matter with his friend and colleague, Mr. Chandra. He visits Mr. Chandra's home to
see for himself the quality of the EC colour TV that he has. Mrs. Bannerjee also finds out more
about the various brands, prices and quality of different brands, from her sister who recently
purchased a colour TV. Her sister has a Crown TV and recommends the same. Meanwhile Mr.
Bannerjee's daughter checks out the brands of TVs that her various friends have at their
respective homes and concludes that BPL is the best. In the next few days the entire Bannerjee
family makes it a point to carefully study any advertisements of colour TV that appear in the
newspaper, magazine or TV. At all social occasions they raise the question of which is the best
colour TV to buy amongst their friends and relatives and mentally, mark the different positive
and negative points of different brands. Within two weeks the Bannerjees have collected enough
information to take a decision to buy BPL, but they need more specific information. So one
evening they visit two dealer outlets in their neighbourhood market to find out more about prices.
They find that the BPL TV is rather expensive and beyond their budget. So they settle for Crown
which was recommended by quite a few of their friends and the price is affordable too.
Moreover, the dealer offered them a special five per cent discount and a free antenna alongwith
free installation. The information that this company would soon he offering a VCR at a
reasonable price clinched the decision in favour of Crown.

SCOPE OF CONSUMER BEHAVIOUR The scope of a subject refers to everything that is

studied as part of that subject. When we set out to explain the scope of consumer behaviour we
need to refer to all that which forms part of consumer behaviour. The scope of consumer
behaviour has been briefly touched upon in the previous section wherein it was explained that
how consumer behaviour includes not only the actual buyer and his act of buying but also the
various roles played by different individuals and the influence they exert on the final purchase
decision. In this section we shall define and explain the scope of study of consumer behaviour.
To define the scope of a subject it is important to set parameters or a framework within which it
shall be studied. Figure 1.1 presents one such framework for studying consumer behaviour. This
framework is made up of three main sections-the decision process as represented by the inner-
most circle, the individual determinants on the middle Circle and the external environment which
is represented by the outer circle. The study of all these three sections constitutes the scope of
consumer behaviour. Here, we shall dwell on these constituents of the framework only briefly as
they are explained in detail in the following units.
Why is consumer behavior so important?
Businesses invest a lot of time and resources in their product or service. Hence, it is absolutely
essential that their offerings cater to the needs of their customers. Or they will incur huge
amounts of losses.

So, in order to make sure that the products, as well as the brand, are well-accepted by the
consumers, it is important to first know what consumers want and are likely to buy.
 Better marketing and communications
As living standards, trends, and technology keep changing, consumers’ choices also
keep varying. Understanding how these factors affect customers’ buying habits helps
organizations design their messaging accordingly. Thus, having insights into
consumers’ purchase behavior can help marketers in meeting their objectives.

 Improve customer retention

It is far more beneficial to retain an existing customer than to gain new customers. It’s
easier to sell new products and services to your existing customers than to find new
 ones.

Entrepreneurs who are able to retain their customers and create strong relationships
manage to create strong new brand loyalty for their businesses. Customer loyalty can
prove to be a promoter of your business and spread positive word of mouth. Satisfied
customers share their happy experiences with their friends and family.

So, retaining as many customers as possible should be the goal of entrepreneurs

interested in growing their companies.

 Increase customer loyalty

Understanding customer behavior helps in finding out ways to boost customer loyalty,
which in turn, will lead to higher sales and a strong brand. Analyzing trends in sales
can aid in offering discounts as well as suggesting the best products and services to
them.

 Better plan inventory

Researching customer attitudes helps companies plan inventory and stock raw
materials. In the case of a service-based business, the management team can better plan
their human resources. If businesses see a trend in demand for specific products, they
are likely to send more purchase orders to their suppliers. Consumer behavior data can
help them to balance demand and supply.

 Increase sales
A company always aims to satisfy specific market niches. Even if the company
operates in different sectors, it should target potential buyers in each segment. If you
know your customers well, you can have better conversations with a high probability
of closing the deal.

Knowing who you are selling to makes it possible to clearly define your objectives in
the market. Learning more about consumer behaviors helps to define the main
customers that come directly to the company. Your inventory should be stocked with
products that meet the requirements of your potential buyers.

Instead of taking random shots and trying to sell to anyone, having knowledge about
your customers’ likes and dislikes helps in making smarter decisions. Such a strategy
has a higher chance of generating sales.
  Research competition
Studying consumer buying behavior helps in understanding the competitive market.
You can plan on how to position your products and services to offer competitive
advantages. Find out answers to questions like:

o Is the customer already using a competitor brand?

o What drives a consumer to buy from your competitor?
o Are potential customers happy with the competitor brands?
o What are the gaps between your products and that of competitors?

4 Types of Consumer Behavior for effective marketing strategies

Marketers must understand several types of consumer behavior to create effective marketing
strategies and meet customer needs. This section will look at the four types of customer behavior
and how they affect businesses.

1. Complex buying behavior

When customers are actively involved in the purchasing decision process and are
aware of the significant differences between the various brands, this happens. Before
making purchasing decisions, consumers conduct extensive research, gather
information, and evaluate alternatives.

2. Dissonance-reducing buying behavior

This type of behavior happens when people make expensive or risky purchases and
then feel uncomfortable or confused about their decision. Consumers may seek
reassurance, information, or feedback from others to reduce confusion.
 3. Habitual buying behavior
This happens when customers make purchases with minimal decision-making and
marketing efforts or information search. Based on prior experiences, they have
developed brand and customer loyalty also buying habits, and they may buy things out
of habit, convenience, or familiarity.

4. Variety-seeking buying behavior

This type of behavior happens when customers are not deeply involved in the purchase
decisions but seek variety or uniqueness in their purchases. They may most often
change brands or products to satisfy their curiosity or need for variety.

What factors influence consumer behavior while purchasing?

Consumer behavior is influenced by many external factors and internal factors such as
situational, psychological, environmental, and marketing factors, personal factors, family, and
culture.

Businesses try to collect data so that they can make decisions on how they can reach their target
audience in the most efficient way. While some influences may be temporary and others can be
long-lasting, these factors can influence a person to buy or not buy. Let’s now look at some of
these factors in detail.

 Personal factors
These factors include demographic factors such as age, gender, income, occupation,
etc. It also depends on one’s interests and opinions. To further understand consumers,
 companies also look more closely at their lifestyles – their daily routine, leisure
activities, etc.

 Social factors
This factor also includes social class, level of education, religious and ethnic
background, sexual orientation, customer orientation, and people around you – family,
friends, or social network. Different cultures have varying customs and rituals that
influence how people live their lives and what products they purchase.

Generally, consumers in the same social class exhibit similar buying behavior. Most
market researchers believe a person’s family is one of the biggest determinants of
buying behavior.

 Psychological factor
A person’s ability to understand information, perception of needs, and mindset
influence consumer behavior. One’s reaction to a marketing campaign will depend on
one’s beliefs and state of mind.

 Situational factors
They are temporary in nature and include physical factors such as a store’s location,
layout, colors, music, lighting, and even scent. Companies try to make these factors as
favorable as possible. Other situational factors include holidays, time, and moods of
the consumer.
How to collect data on consumer behavior?
To understand consumer buying behavior, you need to know how consumers think and feel
about the different alternatives available in the market, how they reason, and how they choose
between different options.

The motivations that influence consumer behavior are so broad that the most effective way to
study them is to use different market research methods. These methods should collect both
qualitative and quantitative data. Some of the common data collection methods are:
Surveys
Surveys are a popular method for collecting data about customer behavior. Online, phone or in-
person surveys can provide quantitative information about customer opinions, preferences, and
behavior.

Focus groups
Small, moderated consumer discussions about a specific good or service are called focus groups.
Focus groups provide qualitative information on consumer opinions and views and also insights
into how customers interact with products and services.

Interviews
Consumer interviews can provide detailed data on customer behavior, attitudes, and preferences.
Interviews can be conducted in person or over the phone, and they can provide qualitative data to
boost quantitative data.

Observations
Observational research entails watching and recording consumers in their natural surroundings.
This method can aid in identifying patterns of behavior and offer insights into how consumers
engage with products and services.

Experiments
Experiments involve changing one or more variables to see what effect it has on customer
behavior. It can be carried out in a controlled environmental analysis or in the field, and it can
provide information about the connections between variables and consumer behavior.

Data analysis
Data from sources such as sales data, web analytics, and social media can be analyzed to gain an
understanding of customer behavior. This method entails recognizing patterns and trends in data
in order to determine consumer behavior and preferences.

Online surveys are the most efficient method of conducting consumer behavior studies. You can
create a survey using survey software and send it to your target audience. You can also
customize the survey flow to ask only relevant questions to respondents.
It lets you analyze data and generate reports to make better decisions. You can also filter data,
compare results and identify trends over time. Based on the results, you can predict demand and
formulate your sales and marketing strategy.

It also helps in designing pricing models, and the maximum amount customers can pay for a
specific bundle of features.

QuestionPro is an all-in-one survey software platform that can assist researchers

in a variety of fields, including consumer behavior research. Here are some ways
QuestionPro can help with research on customer behavior:

 Designing survey

QuestionPro offers a variety of survey templates and question types for creating
surveys that measure various aspects of consumer behavior. The platform allows for
survey customization to meet specific research objectives.

 Targeting respondent

QuestionPro enables researchers to target specific demographic, behavioral research,

and preference groups of consumers. This aids in the collection of a sample group that
is more likely to offer useful insights.
  Collecting data

Researchers can collect data using QuestionPro through a variety of channels,

including email, SMS, social media, and websites. The platform also supports offline
data collection via a mobile app.

 Analyzing data

QuestionPro offers a variety of data analysis tools to assist researchers in making sense
of the information gathered. Data visualization, text analytics, sentiment analysis, and
statistical analysis are among the tools available.

 Reporting insights

Finally, QuestionPro enables researchers to present data insights in a range of ways,

such as charts, tables, and reports. The platform also allows team members and
stakeholders to share insights.

QuestionPro can be an extremely useful tool for researchers conducting consumer behavior
research. It can help researchers learn about consumer behavior in a reliable and actionable
way by giving them a complete solution for survey research
 Methodology of study

Interviews

Consumer interviews enable us to get to know our client's users better by uncovering
their motivations, behaviors, and interests when using or considering current or new
products. They also allow us to learn how we can better engage with consumers on a
more human level.

Survey methodology

Survey methodology as a scientific field seeks to identify principles about the sample
design, data collection instruments, statistical adjustment of data, and data processing,
and final data analysis that can create systematic and random survey errors.

Focus groups
 A focus group is a face-to-face meeting with a sampling of customers that helps you learn about their needs and perspectives. Focus groups also

enable your customers to find out more about your company. Focus groups are not a substitute for understanding market problems, but they can

supplement the process.

Qualitative Research

Qualitative research is a type of research that explores and provides deeper insights into real-world problems.[1] Instead of collecting numerical data

points or intervene or introduce treatments just like in quantitative research, qualitative research helps generate hypotheses as well as further

investigate and understand quantitative data. Qualitative research gathers participants' experiences, perceptions, and behavior. It answers the hows and

whys instead of how many or how much. It could be structured as a stand-alone study, purely relying on qualitative data or it could be part of mixed-

methods research that combines qualitative and quantitative data. This review introduces the readers to some basic concepts, definitions, terminology,

and application of qualitative research.

Data analysis
Data Analysis. Data Analysis is the process of systematically applying statistical and/or
logical techniques to describe and illustrate, condense and recap, and evaluate data.

Experiments
Consumer behavior experiments are a powerful way to test hypotheses, measure causal effects,
and generate insights about how consumers think, feel, and act. However, designing and
conducting a consumer behavior experiment requires careful planning, execution, and analysis.

Research approach
In its most common sense, methodology is the study of research methods. However, the term can
also refer to the methods themselves or to the philosophical discussion of associated background
assumptions. A method is a structured procedure for bringing about a certain goal, like acquiring
knowledge or verifying knowledge claims. This normally involves various steps, like choosing a
sample, collecting data from this sample, and interpreting the data. The study of methods
concerns a detailed description and analysis of these processes. It includes evaluative aspects by
comparing different methods. This way, it is assessed what advantages and disadvantages they
have and for what research goals they may be used. These descriptions and evaluations depend
on philosophical background assumptions. Examples are how to conceptualize the studied
phenomena and what constitutes evidence for or against them. When understood in the widest
sense, methodology also includes the discussion of these more abstract issues.
 Observations
It involves watching and recording what consumers do, say, and feel as they interact with
products, services, staff, and other customers. Observation can help you gain insights into
consumer preferences, motivations, emotions, pain points, and satisfaction.

Customers Reviews
Generally, positive comments tend to prompt consumers to generate emotional trust, increase
confidence and trust in the product and have a strong persuasive effect. On the contrary, negative
comments can reduce the generation of emotional trust and hinder consumers' buying intentions
 STUDY OF LITERATURE
It has been established that the consumer buying behaviour is the outcome of the needs and
wants of the consumer and they purchase to satisfy these needs and wants. Although it sounds
simple and clear, these needs can be various depending on the personal factors such as age,
psychology and personality. Also there are some other external factors which are broad and
beyond the control of the consumer.

A number of researches have been carried out by academics and scholars on identifying and
analyzing those factors affecting the consumers’ buying behaviour and as a result, various types
of factors have been identified. These factors have been classified into different types and
categories in different ways by different authors. For instance, Wiedermann et al (2007)
classified them into internal and external factor. On the other hand, Winer (2009) divided them
into social, personal and psychological factors. Despite the fact that they have been classified
into different groups by different authors they are similar in scope and purpose (Rao, 2007).
There is a wide range of factors that can affect consumer behaviour in different ways. These
factors are divided by Hoyer et al. (2012) into four broad categories: situational, personal, social
and cultural factors.

Situational factors impacting consumer behaviour may include location, environment, timing and
even weather conditions (Hoyer et al., 2012). In order to benefit from situational factors major
retailers attempt to construct environment and situations in stores that motivate perspective
customers to make purchase decision. Range of available tools to achieve such an outcome
include playing relaxing music in stores, producing refreshing smells in stores and placing bread
and milk products in supermarkets towards the opposite end of stores to facilitate movement of
customers throughout the store to make additional purchases etc.
Marketing mix and consumer behaviour
Marketing mix or 4Ps of marketing is one of the major concepts in the field of marketing and
each individual element of marketing mix can be adopted as an instrument in order to affect
consumer behaviour.

Importance of the marketing mix can be explained in a way that “successful marketing depends
on customers being aware of the products or services on offer, finding them available in
favourably judging that practitioners of the offering in terms of both price and performance
Core elements of marketing mix consist of product, price, place and promotion. Marketing mix
has been expanded to comprise additional 3Ps as processes, people and physical evidence.

Product element of marketing mix relates to products and services that are offered to customers
to be purchased. Products can have three levels: core, actual and supporting products. For
example, core product in relation to mobile phones can be explained as the possibility to
communicate with other people in distance. Actual product, on the other hand, relates to specific
brand and model of a mobile phone, whereas augmented product may relate to product insurance
and one-year warranty associated with the purchase of a mobile phone.

Price represents another critically important element of marketing and four major types of
pricing strategies consist of economy, penetration, skimming, and premium pricing strategies

Product
A product is anything for attention, acquisition, use or consumption can be marketed and can to
satisfy a
need or want. Product is something more tangible goods. Product includes physical objects,
services of
persons, places, organizations, manufacturer idea or a combination of these (Kotler &
Armestrang,
2000). About major components of the product can be cited, such as: product variety, quality,
design,
features and facilities of product, brand, packaging, size of product, service, guarantees, return
the
product
Price
The price refers to the amount of money that a person must pay to use a product. A person may
purchase property one or more product or has the right of limited use (such as car rental or home
Hire
purchase). Set a price for a product requires a deep understanding of the symbolic role that price
plays a
role in determining the product in target market. The price of a product in the customer's mind is
not the
costs expended for to produce. Goods costs to the consumer are the one thing that every
consumer
should losing for access to the benefits and points of ownership or use of a product. Reducing
non-
financial cost of ownership or use of goods is one of the things companies are doing to enhance
the
value of their goods to the customers. In case of success this strategy reduces the total cost of
product
for a consumer and still marketers revenue remains constant or increases

Promotion
It is all the communication tools that can deliver the message to the intended audience. Basically
promotion is set of activities to inform, persuade and influence that completely linked (Roosta &
et al,
2007, p247). Promotion can be divided into four groups that each group has different
dimensions.

Advertising
It is strongest tool in the identification of a company, goods, service or idea and vision. If
Advertisement
be constructive and impressive, they will create a "picture" In the audience or even create
interested to
issue or recognition and to accept brand and product.
Sales Promotion
Advertising efficiency is to further the idea or the human brain but the effect of sales promotion
is on
customer behavior. Because when customers will be announced flowing special sales, the
purchase of
two units with a unit price, received the award winning gift, they act.

Public relations
When advertising and sales promotion about products are ineffective, must use marketing public
relations. Public relations budgets and cost spending to create a positive vision in the community
and the
target market for the company. Of course impact of these activities is largely indirect.

Direct Marketing
One of the most expensive marketing communication tool is utilizes the company's sales force
that to
attract satisfaction of customers and finding new customers going to long and short trips. direct
marketing include different ways such as catalogs, telephone, electronic sales, television sales,
sales by
fax, sales by mail

Place
Distribution is delivery the desired product and service to the customer on time and desired
place. There
is an overall strategy about distribution. In the first strategy organization direct and in second
strategy by
helping distributors provide their goods and services to consumers.
Members of distribution channels are responsible for the following main duties:
Market informing: gathering and distributing news and market research about actors and forces
in
marketing environment that is needed planning and assistance on the exchange.
- Promotion and advertise: preparing and distributing information encouraged about the goods.
- Contact: search and communicate with potential buyers.
- Compliance products: shaping and matching goods with the buyer’s needs.
- Negotiate: reaching agreement on price and other conditions of the transaction so that the
transaction can be provided

DATA ANALYSIS AND INTERPRETATION

The goal of consumer behavior analysis is to uncover ways you can better suit your customers’
behavior patterns and increase your conversion rate.

Specifically, the results of buyer behavior analysis often help with things such as:

Predicting customer value. The better you understand your customer segmentation, the more
easily you’ll be able to optimize your operations to focus on your most profitable customer
segments.
Personalizing customer experience. When you understand your customer base better, you can
build bespoke customer journey maps for your most profitable customer segments to give them a
more targeted, optimized-for-them experience, which will increase conversions.
Improving customer retention. Understanding your behavioral data will help you identify what
brings existing customers back, thus increasing customer satisfaction and reducing customer
churn.
This kind of customer analytics might ultimately point towards a shift in marketing strategy,
some tweaks to your product, or something else entirely!

Every business is different, so it’s impossible to say what your customer behavior analysis might
uncover.

At the same time, though, the benefits of this sort of analysis are universal. Any business will
benefit from understanding its customers better.
As you come to understand your customers better, you’ll likely discover lots of ways your
company can optimize its approach.

Now that we understand what customer behavioral analysis is and why it’s so beneficial, let’s
dive into the nitty-gritty of how to actually conduct one so we can glean some actionable insights
The results that stem from a customer behavior analysis help companies gain insight into how
customers interact with a business. For example, if customers purchase a product but never make
a repeat purchase, a customer behavior analysis can help a business understand customers’
behavior and provide information that enables them to apply changes to its products or services
or marketing to make additional sales.
 FINDINGS AND SUGGESTIONS

Understanding customer behavior helps in finding out ways to boost customer loyalty, which in
turn, will lead to higher sales and a strong brand. Analyzing trends in sales can aid in offering
discounts as well as suggesting the best products and services to them.
Consumer behaviour, in its broadest sense, is concerned with understanding both how purchase
decisions are made and how products or services are consumed or experienced. Consumers are
active decision-makers. They decide what to purchase, often based on their disposable income or
budget.

Surveys and Questionnaires: Conducting surveys and questionnaires allows researchers to gather
information directly from consumers. Questions may focus on buying habits, preferences,
motivations, and satisfaction levels. The data collected can provide insights into consumer
attitudes and behaviors.14 Aug
Consumer behavior research focuses on studying consumer actions (in the moment) and getting
to know the underlying motives. This type of research benefits from systematic observation and
a structural analysis providing key insights in order to successfully predict consumer preference
and consumer buying behavior.
 LIMITATIONS OF STUDY

An economic model of consumer behaviour is one-dimensional, which means that decisions are
made on the basis of utility. This model assumes that people will always be the same. It ignores
differences between buyers and products, their values or interests, age, or gender.
Consumers don't understand their own motivations and can rarely articulate them well.. Also,
focus groups often get dominated by a group “leader,” and participants' responses become
heavily influenced by that individual.
For instance, as behavioral economics points out, people are not always rational and are
occasionally indifferent to the choices available. 4 Some decisions are particularly difficult to
make because consumers are not familiar with the products.
i) All services for which payment is made are nor covered by the Act. ii) There is not provision
for imposing liability on those who supply the hazardous goods. iii) Safety rules have not been
properly spelled out.
 SWOT ANALYSIS
Consumers buy things according to their purchasing power and their preferences. There are
various pricing techniques which sellers use to maximize consumer utility and to gain as much
profit as possible. Talking about The psychological pricing techniques used by sellers, These
strategies make the price more attractive and the strategy is not to lower the prices but is related
to the emotions of the consumers. Various psychological pricing strategies are odd even pricing,
prestige pricing, multiple pricing, bundle pricing and promotional pricing. A lot of retail stores
use these kinds of pricing strategies as they provide a platform to emotional consumers rather
than rational consumers. Research on consumer behavior suggests that many consumers buy
products on the basis of their emotional decisions. Psychological Pricing is a play on the
perception of the consumer. It creates a reputation in the minds of the consumers of its perceived
value.

A SWOT analysis focuses on Strengths, Weaknesses, Opportunities, and Threats. Remember

that the purpose of performing a SWOT is to reveal positive forces that work together and
potential problems that need to be recognized and possibly addressed.
Some SWOT analysis opportunities examples are:
•A growing demand for your product or service.
•A new market segment or niche.
•A new technology that automates routine tasks.
•A new partnership or collaboration.

A SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses,
opportunities and threats of your business. Developing a SWOT analysis can help you look at
your business in a new way and from different directions. It can also help you to: create or fine
tune your business strategy.
 SUMMARY AND CONCLUSION

An understanding of consumer behavior is an important part of comprehending the allo- cation

of resources by individuals. Consumption decisions are made based upon a logi- cal process
valuing utility, price, and income alternatives. Firms seek to understand this process in order to
better serve consumers. Firms employ brand managers to allocate resources to effectively serve
consumers on a product or service. These decisions might involve redesigning products or better
targeting consumer markets with information.

It is impossible to define "consumer behavior in quantitative parameters, what I've tried is to

develop an understanding of consumer's thought process and his reactions when exposed to
different products under different conditions

As a marketer it is imperative to understand what the consumer's expectations are from a

product, and how he will react to a marketing initiative taken by you or your team. To
understand consumers reaction one must consider various factors that influence the consumer's
minder-both, within our control and the ones not under our control. An acute understanding of
these influences can go a long way in successfully marketing product

We began with the consumer realizing that there is a need, then he takes action to fulfil , he
makes a decision and makes a purchase to fulfill his desire, finally after the purchase the
customer will evaluate the product as to whether it satisfies him or not, if yes then be again uses
the product and eventually becomes a loyal consumer

When the consumer is undergoing the above process, he tends to get influenced by various
factors. These factors are mainly divided into three categories- internal, social and situational. A
good marketer will know these influences

To explain above this many a practical examples have been used. To give it an analytical view a
few case studies have also been inserted in the end. These case studies are to give a deeper
insight into consumer reactions to various influences around them that may affect their normal
behaviour
 BIBLIOGRAPHY
Consumer Behaviour: European Perspective. 2009. New York: Prentice Hall/Financial Times.

Lunia, Palak. "Online Consumer Behaviour Analysis using Python."