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Submitted To: Submitted By: Dr. SK Chadda Ankur Kansal Ankush Goyal Annu
Submitted To: Submitted By: Dr. SK Chadda Ankur Kansal Ankush Goyal Annu
SK Chadda
Definition
Consumer behavior is the study of individuals, groups,
or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
Personal Factors
Psychological Factors
Varies from society to society Eg. Greater concern about health and fitness among urban women. It includes nationalities, religions, racial groups and geographic regions. Measured as combination of occupation, income, education, wealth and other variables.
Subculture
Social Class
Family
Reference groups
Buzz Marketing
Marketers identify Opinion leaders for their products
and use buzz marketing by enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about their products. Eg. P & Gs Vocalpoint.
socialize or exchange information and opinion. Eg. Social networking sites like Facebook, flicker, twitter etc. Posting videos on youtube. Specific community sites like yub.com for shopping, fuzzster.com for pet lovers etc.
Personal Factors
Age and life cycle stages
Occupation
Economic situation
Lifestyle
Economic Situation
Persons economic situation will affect product choice. Eg. A person with higher income may buy a rolex but person with modest means prefers to settle with timex.
Lifestyle
cheerful) eg. Dove Excitement(daring, spirited, imaginative, and up-todate) eg. Apple Competence(reliable, intelligent, and successful) eg. CNN Sophistication(upper class and charming) eg. BMW Ruggedness(outdoorsy and tough) eg. Jeep.
Psychological Factors
Motivation Perception
Learning
Motivational research
It seeks to learn what motivates people in making
choices. The techniques are such as to delve into the conscious, subconscious and the unconscious.
Learning
Belief Attitude
Attitude describes a persons relatively consistent evaluations, feelings and tendencies toward an object or idea.
Purchase decision