Marketing Management :- Consumer buying decision

2. Study of individuals, groups, organizations
Processes they use to select,secure,and dispose of products,
Services, experiences, or ideas
Satisfy needs and the impacts that these processes
Have on consumers and society

3. Consumer Buying Behaviour refers to the
Buying behaviour of final consumers,
Individuals & households who buy goods and
Services for personal consumption
The central question for marketers is
How do consumers respond to various?, marketing efforts
the company might use

4. Problem
recognition
Information
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Evalution of
alternatives
Purchase
Decision
Post purchase
behaviour
Information
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5. 1. Cultural Factors :- Cultural factors are coming from the different components
related to culture or cultural environment from which the consumer belongs.
Culture is crucial when it comes to understanding the needs and behaviours
of an individual.
❶ Sub – Cultures :- Includes nationalities, religions, ethnic groups, age groups, etc
❷ Social Classes :- Includes Lower class, middle class and upper class.
2. Social factors :- Social factors are among the factors influencing consumer
behaviour significantly. They fall into three categories :-
❶ Refrence Groups :- It is related with social origin, age, place of residence
❷ Family :- The family is maybe the most influencing factor for an individual.
it forms an environment of socialization in which an individual will
involve.
❸ Social Role & Status :- Individuals position within his family, work & country.

6. 3. Personal Factors :- Decisions and buying behavior are obviously also influenced
by the charcterstics of each consumer.
❶ Age and way of life : Consumers lifestyle, values, environment, activities, hobbies
and consumer habits evolve throughout his life.
❷ Purchasing Power : The purchasing power of an individual will have, of course, a
decisive influence on his behaviour and purchasing decisions
based on his income and his capital.
❸ Lifestyle : The lifestyle of an individual includes all of its activities, interests,
values and opinion.
❹ Personality and self – concept : It materializes into some traits such as confidence,
sociability, autonomy, charisma, ambition.
4. Psychological Factors :- It Includes :-
Motivation
Perception
Beliefs and attitudes
Learnings

7. ECONOMIC MODEL :- This model assumes that with limited
purchasing power and a set of needs and tastes, a consumer will allocate
his/her expenditure over different products at a given prices so as to
maximize utility.
Bases for Economic Model :
1. Price Effect
2. Substitution Effect
3. Income effect
CRITICISM :
Fails to explain how does the consumer actually behave
Incompleteness in the Model
Lack Of broader perspective
LEARNING MODEL :- This model help marketers to promote
association of products with strong drivers and cues, which would lead
to positive reinforcement from the consumers.
In marketing context, ‘learning’ will help marketers to understand
how consumer learn to respond in new marketing situations,or how
they have learned and respond in the past in simialr situations.

8. PSYCHOLOGICAL MODEL :
This model based on the work of psychologists who
Were concerned with personality. The view was human
Needs and motives operates on buying.
This theory was developed by Sigmund Frued.Acc.
To him human behaviour is the outcome of
1. ID
2. Super Ego
3. Ego
This model is concerned with personality and says that human
Behaviour to a great extent is directed by a complex set of deep
Seated motives.
Helps the marketer to know how buyers influenced by
Symbolic factors in buying a product.

9. THE SOCIOLOGICAL MODEL :
As per this model, an individual buyer is a part of the institution
Called society, gets influenced by it and in turn, also influences
it in its path of development.
The interactions with all the set of society leave some
impressions on him and may play a role in influencing
His buying behaviour.
The marketers, through a process of market segmentation can
Work out on the common behaviour patterns of a specific class
And group of buyers and try to influence their buying pattern.