Consumer Behaviour
Consumer Behaviour
Consumer Behaviour
Segmentation
Process of dividing a market into subsets of consumers with common needs or characteristics
Targeting
Selection of one or more of segment identified for the company to pursue
Positioning
Development of a distinct image for the product or service in the mind of consumer, an image that will differentiate the offerings from competing ones
Marketing Mix
People
Customer Value
Ratio between customers perceived benefits(economic, functional & psychological)& the resources(Money, time, efforts) used to obtain those benefits
Customer Satisfaction
Individuals perception of the performance of the product or service in relation to his or her expectation
Customer Delight
When the customer experience much more than the perception & expectation.
Consumer Behaviour
internal search (memory) external search (personal sources, commercial sources third party reports (e.g. Which) personal observation/testing
Window-shop
Customers vs Consumer
Customer is specific in terms of brand, company, or shop. A person who customarily or regularly purchases particular brand. Consumer a person engaged in - search, select, use and dispose of products, services, experience, or ideas.
Customers vs Consumer
Customer refers to the purchaser of a product or service. They may or may not be the ultimate consumer. Whereas
Consumer refers to the end user of a product or service. They may or may not be the customer.
Customer behaviour: a broad term that covers both individual consumers who buy goods and services for their own use and organizational buyers who purchase business products Consumer behaviour: the process through which the ultimate buyer makes purchase decisions
Consumer Behaviour
Study of how people buy, what they buy, when they buy and why they buy. Attempts to understand the buyer decision making process, both individually and in groups. Studies characteristics of individual consumers such as demographics, psychographics, and behavioural variables
Consume Behaviour is defined as the behaviour that consumers display in Searching for - purchasing - using - evaluating - disposing of product & services that they expect will satisfy their needs.
Consumer Behaviour
Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Sheth, Mittal, and Newman (1999) define customer behavior as the mental and physical activities undertaken by household and business customers that result in decisions and actions to pay for, purchase, and use products and services.
Consume behavior is purposeful and goal oriented The consumer has free choice Consumer behavior is a process Consumer behavior can be influenced There is a need for consumer education
Buyers Response
Dealer Choice
Buyer Behaviour
Consumer
4Ps
Marketing Environment
Buyer Characteristics
Buyer Decision
CB Activities
Mental activities include such things as: assessing the suitability of a product or service brand making inferences about a product or services qualities from advertising information evaluating actual experiences with the product Physical activities include such things as: visiting stores reading Consumer Reports talking to salespeople issuing a purchase order
Applications of CB
Marketing