Consumer Behavior Assignment by PrestigeLegalDoc

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									The study of different aspects of consumers that when, why, how and where people do or do not
buy products in the market is known as consumer behavior. Characteristics like psychology,
sociology, social anthropology and economics are the parts of consumer behavior. These
characteristics help in understanding buyer’s decision making process whether on individual
basis or in groups. In order to understand people wants and demands it studies the characteristics
if individual consumers such as demographics and behavioral variables. It also studies the
influences of different people on consumer decision making process like family, friends,
reference group and society on the whole.


In consumer buying behavior consumer plays three distinct roles of user, payer, and buyer.
Hence Consumer behavior study is mainly based on the consumer buying behavior, their
decision making and their psychology behind making different decisions. While doing the
customer behavior analysis another important tool is relationship marketing which is an
influential asset, as it has a key concern in rediscovering of correct meaning of marketing
through the reaffirmation of significance of the customer or buyer. Here importance is also paid
on the significance of one-to-one marketing, customization, personalization, and customer
retention and customer relationship management. Social choice and welfare functions are the
categorization of social functions.


Consumer behavior defined by Belch and Belch as 'the process and activities people engage in
when searching for, selecting, purchasing, using, evaluating, and disposing of products and
services so as to satisfy their needs and desires’ (Belch, 1978).


INFORMATION SEARCH

Consumer after discovering the problem usually search for the information on the products and
services that can resolve their problem. The study by Belch and Belch 2007 explains that how
consumers undertake both in internal and external search. Sources of information include:
        Individual sources
        Business sources
        Communal sources



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        Individual experience


The process associated with information search which is also known as the internal
psychological process is known as the perception of an individual. Perception is defined as the
method through which an individual receives, choose, organize and interprets the information for
creating a meaningful image f the world.
THE CHOOSY INSIGHT PROCESS
The selective perception process comprises of the following steps:
        Selection of experienced customers for the basis of selecting promotional messages they
         wanted themselves to expose them to.


        Selection of few customers that will let you know to which kind of messages they are
         attracted to.


        Selection of few knowledgeable customers that are used to do the interpretation of
         messages on the basis of beliefs, attitudes and experiences


        Selection of few preservative consumers that takes messages in a more meaningful
         manner.


The inference of this method assists in developing an effectual promotional strategy and also in
taking the decision of selecting the information that is more effective for the brand.


INFORMATION EVALUATION


Now consumer compares the brands and products that are in their suggested sets. Here the
question arises that how the marketing organization increase the probability that the brand is part
of the consumer’s suggested set? (Horton,1984) Evaluation is done by the consumers on the
basis of functional and psychological advantages that are being offered. Hence the marketing




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organization needs to analyze the benefits consumers are seeking and attributes that are
significant in manner for making decision.


PURCHASE STRATEGY


After the selection of alterna
								
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