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    Consumer Behaviour in Retail

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    Sharad Chaturvedi
    Consumer behavior is the study of how and why people make buying decisions. It involves understanding the consumer decision-making process, from need recognition through post-purchase evaluation. Key factors that influence consumer behavior include personal characteristics, psychology, social factors, and culture. Marketers must study these influences to understand customer needs and desires in order to most effectively market products and services.

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    Consumer Behaviour in Retail

    Uploaded by

    Sharad Chaturvedi
    102 views28 pages
    Consumer behavior is the study of how and why people make buying decisions. It involves understanding the consumer decision-making process, from need recognition through post-purchase evaluation. Key factors that influence consumer behavior include personal characteristics, psychology, social factors, and culture. Marketers must study these influences to understand customer needs and desires in order to most effectively market products and services.

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    Consumer behavior is the study of how and why people make buying decisions. It involves understanding the consumer decision-making process, from need recognition through post-purchase evaluation. Key factors that influence consumer behavior include personal characteristics, psychology, social factors, and culture. Marketers must study these influences to understand customer needs and desires in order to most effectively market products and services.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    102 views28 pages

    Consumer Behaviour in Retail

    Uploaded by

    Sharad Chaturvedi
    Consumer behavior is the study of how and why people make buying decisions. It involves understanding the consumer decision-making process, from need recognition through post-purchase evaluation. Key factors that influence consumer behavior include personal characteristics, psychology, social factors, and culture. Marketers must study these influences to understand customer needs and desires in order to most effectively market products and services.

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    Download as pptx, pdf, or txt
    of 28

    CONSUMER BEHAVIOUR IN RETAIL MARKETING

    CONSUMER BEHAVIOR :
    Consumer behavior is the study of how people buy, what they buy, when they buy and why they buy. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioural variables in an attempt to understand people's wants.

    WHY DO YOU NEED TO STUDY CONSUMER BEHAVIOUR??:


    CONSUMER IS THE KING OF THE MARKET AND FOR THE BUSINESS TO SURVIVE FOR LONG,IT IS IMPORTANT TO STUDY CONSUMER BEHAVIOUR.

    STAGES OF THE CONSUMER BUYING PROCESS


    Problem Recognition Information Search Evaluation of alternatives Purchase Decision Purchase Post-Purchase Evaluation

    PROBLEM RECOGNITION
    Difference between the desired state and the actual condition. Example: By seeing a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes. Hunger stimulates your need to eat.

    INFORMATION SEARCH
    Internal Search: --- Memory External Search: --- Friends and Relatives A successful information search leaves a buyer with possible alternatives, the evoked set. Example: Hungry, want to go out and eat, evoked set is Chinese food Indian food Burger king

    EVALUATION OF ALTERNATIVES
    Need to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives. Example: If you want to eat something spicy, then Indian food gets the highest rank etc

    PURCHASE DECISION
    Choose buying alternative, includes product, package, store, method of purchase etc. PURCHASE : May differ from decision, time lapse between purchase decision and the actual purchase, product availability

    POST-PURCHASE EVALUATION
    It is the outcome Satisfaction or Dissatisfaction. This can be reduced by warranties, after sales communication etc. Example: After eating an Indian meal, you may think that really you wanted a Chinese meal instead.

    TYPES OF CONSUMER BUYING BEHAVIOUR :


    Routine Response/Programmed Behavior Limited Decision Making Extensive Decision Making Impulse buying

    ROUTINE RESPONSE/PROGRAMMED BEHAVIOUR


    Buying low involvement, frequently purchased, low cost items. Examples : Soft drinks, snack foods, milk etc.

    LIMITED DECISION MAKING


    Buying product occasionally. That is when you need to obtain information about unfamiliar brand in a familiar product category. Example: Clothes--know product class but not the brand.

    EXTENSIVE DECISION MAKING


    Complex high involvement, unfamiliar, expensive and infrequently bought products. Spend a lot of time seeking information and deciding. High degree of risk. Example: Cars, homes, computers, education

    IMPULSE BUYING
    No conscious planning. The purchase of the same product does not always elicit the same Buying Behavior. Product can shift from one category to the next. For example:Going out for dinner for one person may be extensive decision making (for someone that does not go out often at all), but limited decision making for someone else. The reason for the dinner, whether it is an anniversary celebration, or a meal with a couple of friends will also determine the extent of the decision making.

    WHAT INFLUENCES CONSUMER WHEN HE WISHES TO BUY SOMETHING.??


    PRICE? NEED SATISFACTION AVALAIBILITY OF MONEY QUALITY OF PRODUCT AND MANY MORE FACTORS

    MAIN FACTORS AFFECTING CONSUMER BEHAVIOUR


    Personal Psychological Social Cultural

    Personal Factors
    PERSONAL PERSONAL INFLUENCES Age & Lifecycle stage Occupation Economic Situation Personality & Self-concept LIFESTYLE IDENTIFICATION Activities Interests Opinion

    Psychological Factors
    Motivation Perception Learning Beliefs & Attitude

    Maslows Hierarchy of Needs


    Self Actualization (Self-development ) Esteem Needs ( self-esteem, status) Social Needs (sense of belonging, love) Safety Needs (security, protection) Physiological Needs (hunger, thirst)

    SOCIAL FACTORS
    Reference group Opinion leaders Roles and status Family Decision Making The initiator The information provider The influencer The decision maker The purchasing agent The consumer

    CULTURAL FACTORS
    Family environment Religious sentiments Tastes and preferences

    BRAND CONSCIOUS PEOPLE


    The sale of cars like BMW,SKODA LAURA is increasing at a great pace..WHY? People are getting brand concsious Status symbol Consumer Delight

    Family Influence on Buying Behavior


    Husband-Dominant Wife-Dominant Equal

    A fact..
    Usually people have a myth that if they pay more then they will get better products but at times out of ignorance they tend to pay unreasonably

    Group Influences
    Public Luxuries Golf Clubs Snow Skis Sail Boat Private Luxuries TV Video Games Ice Makers Trash Compactors Public Necessities Wrist Watch Automobiles Clothes Private Necessities Mattresses Floor Lamps Refrigerators

    Consumer behaviour & international market


    Increased MNCs Wider choice for consumers Easy substitutes available Competitive prices Imported goods available Standardization of goods

    Negligent Consumer Behavior


    Negligent behavior is composed of actions and inactions that may negatively affect the longterm quality of life of individuals and society. This type of behavior can occur in two different contexts: Product Misuse Consumption of Hazardous Products

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