Consumer behavior also tries to assess influences on the consumer from groups such as family, friends, reference groups and society in general Perner, Dissatisfaction may result from many factors, such as unmet brand expectations, and at times may lead to the consumer lodging a complaint.
Demographics include factors such as race, age, income, mobility travel time to work or number of vehicles availableeducational attainment, home ownership, employment status and location. With an internal information search, the consumer searches the information stored in his or her memory.
At the end of his or her evaluation, the buyer may experience satisfaction or dissatisfaction.
Subsequent research has looked into information processing of consumer choice, and the experiential consumer. An understanding of consumer behavior can lead to improved marketing strategies on the part of firms and organizations, and can also lead to improved public policy.
It also involves the study of why consumption decisions are made.
Here, the consumer may need to establish the criteria for evaluation, such as features of the product or service that the buyer wants or does not want. Unlock This Study Guide Now Start your hour free trial to unlock this page Consumer Behavior study guide and get instant access to the following: In addition, consumer behavior looks at the impacts that the processes of selection, purchasing, use, and disposal have on consumers and on society.
Actual purchasing is only one stage of the process, and not all decision processes may lead to a purchase. The study of consumer behavior attempts to understand the buyer decision making process for individuals, groups and organizations. An endless and diverse field of research and applications, consumer behavior considers such areas as buying decision-making, internal influences, and external influences on the consumer.
The fourth stage in the consumer buying decision process is the purchase decision. The six stages are: The consumer may rank or weigh the alternatives to arrive at a choice, or resume searching if a satisfactory choice is not arrived at.
When considered in greater depth, consumer behavior can be defined as the study of how and when individuals, groups and organizations select, purchase, use and dispose of products, services, experiences or ideas to satisfy their needs.
Sometimes product availability issues may cause a time lapse between the purchase decision and the actual purchase. The fifth stage is the purchase, which at times occurs simultaneously with the purchase decision. It has been said that the basic nature of consumer behavior is diversity: Although early related research can be traced back much further, the attempt to theorize consumer behavior began infirst looking at the type of behavioral processes consumers typically used in adopting new products; then addressing consumer problem-solving, buyer behavior, and buyer decision processes. Consumer Behavior Consumer Behavior – Database Lifestyle A well-defined target market is the first element in the marketing strategy.
Finding a target market can be a complex task depending on the product and how effectively it is advertised. Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company.
Consumer behaviour is a hotbed of psychological research, as it ties together issues of communication (advertising and marketing), identity (you are what you buy), social status, decision-making, mental and physical health (Holt et al ).
Consumer behavior helps marketers create an effective marketing strategy because: Marketers are able to bring a product to market faster than any potential competitors. The study of consumer behavior involves elements of economics, the social sciences, and the physical sciences.
An endless and diverse field of research and applications, consumer behavior. Home» Old Question Paper for various MBA Programme - III & IV Semester. Old Question Paper for various MBA Programme - III & IV Semester. THIRD SEMESTER. December MBA –Marketing: Consumer Behaviour Marketing Research Industrial Marketing Logistics & Supply Chain Management Retail Marketing: Consumer .Download