Analysing Consumer Market & Buyer Behaviour

Presented By: Antra Singh

Consumer Behavior

The field of Consumer Behavior:

studies how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and desires.

Individual Buyer buys things for his own personal and family consumption Business Buyer a commercial buyer who buys things for manufacturing other products, or for reselling, or for use in running his enterprise.

What does the customer buy?

High-involvement product
High price Complex features Large difference between the alternatives High perceived risk Reflect self-concept of buyer

Low-involvement productDoesnt reflect buyer self-concept Alternatives within the same product class are similar Frequent brand switching behaviour

How and Why Consumers Buy

Buying behavior is influenced by:

Cultural factors Social factors Personal factors Psychological factors

How and Why Consumers Buy

Influence Factors

Cultural Social Personal Psychological

Exert broadest and deepest influence Culture Subculture Social classes

How and Why Consumers Buy

Influence Factors

Cultural Social Personal Psychological

Reference groups Family Social roles and status

How and Why Consumers Buy

Influence Factors

Cultural Social Personal Psychological

Age Stage in life cycle Occupation Economic circumstances Lifestyle Personality Self-concept

How and Why Consumers Buy

Influence Factors

Cultural Social Personal Psychological

Motivation Perception Learning Beliefs Attitudes

Consumer Buying Decision Process

In addition to understanding how these factors influence consumers, marketers must identify and understand:

Who makes the buying decision The types of buying decisions The stages in the buying process

Consumer Buying Decision Process

Understand

Buying roles Buying behavior Buying decision process

Initiator Influencer Decider Buyer User

Consumer Buying Decision Process

Understand

Buying roles Buying behavior Buying decision process

Complex buying behavior Dissonance-reducing buying behavior Habitual buying behavior Variety-seeking buying behavior

Consumer Buying Decision Process

Understand

Buying roles Buying behavior Buying decision process

Problem recognition Information search Evaluation of alternatives Purchase decision Post-purchase behavior

Consumer Decision Making Process - HIP

Problem Identification/ Need Recognition Information search Evaluation of alternatives Purchase decision Post-purchase behaviour

Consumer Decision Making Process - LIP

Problem/ Need recognition Evaluation of alternatives Decision to buy

Tools to study buyer behaviour

Surveys Projective techniques Focus Group discussions

Thank You!!!