Case Study
IMC
ASSIGNMENT 1
Consumer Behavior
Who is a Consumer?
Any individual who purchases goods and services from the market for his/her end-use is called a consumer.
In simpler words a consumer is one who consumes goods and services available in the market.
What is Consumer Interest?
Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket.
About
Consumer Behavior
Consumer Behavior is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use.
Why do you think an individual buys a product ? * Need * Social Status * Gifting Purpose
Why do you think an individual does not buy a product ? * No requirement * Income/Budget/Financial constraints * Taste
When do you think consumers purchase products ? * Festive season * Birthday * Anniversary * Marriage or other special occasions
There are infact several factors which influence buying decision of a consumer ranging from psychological, social, economic and so on.
The study of consumer behaviour explains as to: * Why and why not a consumer buys a product ? * When a consumer buys a product ? * How a consumer buys a product ?
During Christmas, the buying tendencies of consumers increase as compared to other months. In the same way during Valentines week, individuals are often seen purchasing gifts for their partners. Fluctuations in the financial markets and recession decrease the buying capacity of individuals.
In a layman’s language consumer behavior deals with the buying behavior of individuals.
The main catalyst which triggers the buying decision of an individual is need for a particular product/service. Consumers purchase products and services as and when need arises.
According to Belch and Belch, whenever need arises; a consumer
ASSIGNMENT 1
Consumer Behavior
Who is a Consumer?
Any individual who purchases goods and services from the market for his/her end-use is called a consumer.
In simpler words a consumer is one who consumes goods and services available in the market.
What is Consumer Interest?
Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket.
About
Consumer Behavior
Consumer Behavior is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use.
Why do you think an individual buys a product ? * Need * Social Status * Gifting Purpose
Why do you think an individual does not buy a product ? * No requirement * Income/Budget/Financial constraints * Taste
When do you think consumers purchase products ? * Festive season * Birthday * Anniversary * Marriage or other special occasions
There are infact several factors which influence buying decision of a consumer ranging from psychological, social, economic and so on.
The study of consumer behaviour explains as to: * Why and why not a consumer buys a product ? * When a consumer buys a product ? * How a consumer buys a product ?
During Christmas, the buying tendencies of consumers increase as compared to other months. In the same way during Valentines week, individuals are often seen purchasing gifts for their partners. Fluctuations in the financial markets and recession decrease the buying capacity of individuals.
In a layman’s language consumer behavior deals with the buying behavior of individuals.
The main catalyst which triggers the buying decision of an individual is need for a particular product/service. Consumers purchase products and services as and when need arises.
According to Belch and Belch, whenever need arises; a consumer
References: 2. Consumer Behavior & Marketing Research, Suja R Nair, Himalay Publishing House, 1st. Edition, 2004. 3. Consumer Behavior & Marketing Strategy, J Paul Peter, Jerry C Olson, 2nd. Edition, IRWIN, 1990. 4. Consumer Behavior : Basic Findings and Management Implications, G Zaltman and M Wallendorf, John Wiley & Sons, 1983. 5. Consumer Behavior in Marketing Strategy, John A Howard, Prentice Hall, 1989. 6. Consumer Behavior, David L Loudon & Albert J Della Bitta, TMGH, 4th. Edition, 2006. 8. Consumer Behavior, James F Engel, Roger D Blackwell, Paul W Miniard, 8th. Edition, The Dryden Press, 1995.