Consumer Market and Buyer Behavior

Only available on StudyMode
  • Download(s) : 569
  • Published : November 3, 2009
Open Document
Text Preview
CONSUMER MARKET AND BUYING BEHAVIOR
Definition
●Consumer buying behavior:-
●Consumer Market:-
Buyers reactions to a firms marketing strategy has a great impact on the firms success. The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy. ●Characteristic affecting consumers buying behavior ● SOCIAL

● PERSIONAL
● PSYCHOLOGICAL
CULTURE:-
● Groups with shared value systems.
e.g.- Asian consumer, American consumer etc.
● Society’s divisions who shares value, interest and behavior. SOCIAL:-
● Consumer wants, learning, motives etc. are influenced by opinion leaders, person's family, reference groups, social class and culture. Opinion leaders-- Roles and Family Influences-- Family is the most basic group a person belongs to. Marketers must understand: {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} The Family life cycle: families go through stages, each stage creates different consumer demands: {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} PERSONAL:- ● Occupation , Economic condition.

● Lifestyle , activities , interests ,and opinion.
PSYCHOLOGICAL:-
Motives-- A motive is an internal energizing force that orients a person's activities toward satisfying a need or achieving a goal. Actions are effected by a set of motives, not just one. If marketers can identify motives then they can better develop a marketing mix. MASLOW hierarchy of needs!!

{text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} Need to determine what level of the hierarchy the consumers are at to determine what motivates their purchases. ● {text:bookmark-start} Perception {text:bookmark-end}

Selective Exposure-select...
tracking img