2. Consumer Buying Behavior
The buying behavior of final consumers—individuals and
households who buy goods and services for personal
consumption.
Consumer Market
All the individuals and households who buy goods and
services for personal consumption.
4. Personal Factors
Age & Stage In The Life
Cycle
Occupation & Economic
Circumstances
Personality & SelfConcept
Lifestyle & Values
Key Psychological
Factors
Motivation
Perception
Learning
Memory
5. Culture is the fundamental determinant of a person’s
wants and behaviour.
Set of values, perceptions, preferences and
behaviours acquired from family and key institutions
in the process of growing up.
If a person is born in US then the values he will look
for will be
success, efficiency, comfort, freedom, progress, etc.
A person born in middle class in India will be
exposed to values like
honesty, integrity, respect, hard work, sacrifice, etc.
6. Culture includes smaller sub-cultures which
provide more specific identification.
These include nationalities, religions, racial
groups and geographic regions.
7. Homogeneous divisions in society like caste
in India or the seven classes in the US.
Indian Marketers use the term socioeconomic
classification, which uses the combination of
education and occupation of chief wage
earner to classify buyers in urban area
8.
People in same social class behave in similar
manner. They have similar dress, speech,
preferences, etc.
People are perceived to be in inferior or
superior position according to their social
class.
Individuals can move up and down in the
social class ladder.
Many variables together define social class
like income, occupation, wealth, educatio,etc.
9. All groups which have direct or indirect influence
on behaviour and attitude.
Groups having direct influence are called
membership groups.
Primary groups consist of people with there is
fairly continuous and informal interaction like
friends, family and co-workers.
Secondary group includes religion, professional
and trade-union groups which are more formal
and have less interaction.
10. Its important to note that people also get
influenced by groups they do not belong to.
Aspirational groups of which an individual
wishes to be part of.
Dissociative group of whose values and
behaviour are not acceptable for an individual.
11. Most influential primary reference group.
Family of Orientation consists of parents and
siblings from where orientation is acquired
towards religion, politics and sense of
ambition, love, etc.
Family of Procreation which includes spouse
and children.
12. Person’s position in each group can be defined
in terms of role and status.
Role is the activities that a person is expected
to perform.
Each role carries a status like a CR has more
status than other students.
13. Consumption is decided by the family life
cycle.
Life events like marriage, career change, etc.
should also be considered.
14. Consumption Patterns are affected by
occupation.
Economic circumstances like spendable
income, savings play an important role.
15. Personality- Set od psychological traits that lead to
consistent responses to environment.
Personality can be used to analyse consumer brand
choices.
Following five traits have been identified by Jenifer
Aaker from Stanford:1.Sincerity:down-to-earth, honest, wholesome and cheerful
2.Excitement: daring, spiritual, imaginative and up-to-date
3.Competence: reliable, intelligent and successful
4.Sophistication: upper-class and charming
5.Ruggedness: tough
16. Consumers choose products and services as
per following:1. Actual self-concept (how one views oneself)
2. Ideal self-concept (how one would like to
view oneself)
3. Others self-concept (how one think others
see oneself)
17.
People from same culture, subculture, social
class, etc. may have different lifestyles.
Lifestyle is the pattern of living in terms of
activities, interests and opinions.
18.
Person can have many needs
Biogenic needs- Arising from hunger, thirst
or discomfort
Psychogenic Needs- Need for recognition,
esteem or belonging
Need + Sufficient Intensity = Motive
Motive drives a person to act
20.
Psychological factors that shape the
behaviour are unconcious
Eg: A person is not clear with what are his
motivations
21.
22.
Two factor theory
Dissatisfiers: Factors that cause dissatisfaction
Satisfiers: Factors that cause satisfaction
Avoid dissatisfiers like poor service
Satisfiers must be present like good service
23.
A motivated person acts which is influenced
by his or her perception of situation.
Perception is the process by which an
individual selects, organises and interprets
information inputs to create a meaningful
picture of the world
People have different perceptions because of
selective attention, selective distortion and
selective retention.
24.
Change in individual’s behaviour from
experience is learning.
Memory can be short term or long term.
Point of importance is memory retrieval.
