UNIT 3

Consumer and Their Behaviour

Understanding Customers:
 Definition of Customer , Consumer
 Consumer behaviour and factors affecting i t ,
 Customer Perceived Value,
 Customer Satisfaction,
 Customer Delight ,
 Customer Loyalty ,
 Analysis of Consumer Markets,
 Analysis of Business Markets,
 Comparison of Consumer Markets and Business Markets .
 Consumer vs. Customer

Customer is the one who is purchasing the

goods. Consumer is the one who is the end user of
any goods or services. Consumers are unable to resell
any product or service. Customers need to purchase a
product or service in order to use it.
 Consumer behaviour

Consumer behavior is the study of individuals and organizations

and how they select and use products and services. It is mainly
concerned with psychology, motivations, and behavior. ...
The behavior of consumers while researching and shopping.
Factors influencing Consumer behaviour
 Customer perceived Value

The difference between total customer value and total

customer cost
Total Customer Value
The bundle of benefits customers expect from a
given product or service
Total Customer Cost
The bundle of costs customers expect to incur in
evaluating, obtaining, and using the product or
service
Determinants of Customer Perceived Value

Customer
Customer
perceived
perceived
value
value
Total
Totalcustomer
customervalue
value Total
Totalcustomer
customercost
cost

Product Services Monetary Time

value value cost cost

Personnel Image Energy Psychic

value value cost cost
 Customer Satisfaction
The level of a person’s felt state resulting from
comparing a product’s perceived value in relation to
the person’s expectated Value.

P<E P=E P>E

Dissatisfied Satisfied Delighted
(Highly satisfied)
Methods to track Customer Satisfaction

Complaint Customer Ghost Lost

and satisfaction shopping customer
suggestion survey analysis
systems
 Customer Delight

According to HubSpot, it's about creating "a remarkable

experience to users that focuses on their needs,
interests, and wishes that leaves them so satisfied, they
can’t help but go out and sing the praises of your
brand."
Satisfied customers use your product, but delighted
customers are loyal and actively promote your brand
through word-of-mouth.
 Customer Loyalty
Customer loyalty is a measure of a customer's likeliness to do
repeat business with a company or brand. It is the result
of customer satisfaction, positive customer experiences, and
the overall value of the goods or services a customer receives
from a business.