CONSUMER BUYING BEHAVIOR
Consumer behavior is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. Many factors are involved in a customers' buying decision, any one of which can become the deciding factor, such as: * Conspicuous consumption: Lavish spending for the purpose of displaying wealth or social status; preference for buying increases with price. * Snob effect: Desire to buy something nobody else has; preference for buying increases with rarity or scarcity. * Bandwagon effect: Desire to buy something everybody else is buying; preference for buying increases with perceived popularity. * Economic-To enhance their lifestyle or to fulfill two of Maslow's needs: physiological (food, shelter) and Safety and Security. * Psychological-This is the study of how people interact with their environment; products are consumed to enhance their well being, for example air fresheners, furniture and convection ovens.
OLD SPICE AFTER SHAVE LOTION
Old Spice is a prominent American brand of male grooming products. It is manufactured by Procter & Gamble, which acquired the brand in 1990 from the Shulton Company.
Consumer is buying the product old spice on the basis of -
Consumer has always preferred to the branded product for Personal Care, Old Spice brand is a very good choice because it comes under the house of Procter & Gamble (P&G). P & G is very known brand for the FMCG & Personal Care. PRICE
Men in all income brackets can afford Old Spice aftershave. Even those who don't usually go in for luxury brands can splurge on a bottle of old spice to keep for special occasions. Its price is very affordable compare to other brands like Gillette, fa, Gats By etc.
For personal care product quality is play very...
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