Consumer Buying Behaviour
EXECUTIVE SUMMARY
Consumer behaviour is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The emerging costumer trends play an important role in analysing the marketing opportunities. A consumer buying behaviour is influenced by cultural, social and personal factors. The consumer passes through five stages of the buying decision process: Problem Recognition, Information Search, evaluation of alternatives, purchase decision and post purchase behaviour. This model is important for anyone making marketing decision and customer pass through all stages in every purchase.
In our study, we have analyzed the buying behaviour of consumers by interviewing 3 consumers – each for a different product variety. The first was a security guard who had bought a soap for Rs. 10. He was set on buying the same brand of soap and was not very keen on trying other brands. He has been using the product for a long time and was satisfied with the quality. Next, we interviewed the receptionist of a hostel who had bought a pair of shoes for approx. Rs. 1000. the primary factor influencing consumer behaviour in this case is the quality and long lasting performance of the product. There are other factors like price, awareness, information as well but these factors play a very marginal role in the ultimate decision making process. Lastly, we interviewed a senior analyst about a pair of headphones which he had purchased for Rs. 1150. We believe that this buy revealed a little bit about his personality. The respondent conducted thorough research and judged several parameters before converging on the product. He does not indulge in impulsive buying and considers products from several brands. He was not much worried about availability as he brought the product online.
As marketing students, we realized that understanding consumer buying behaviour offers consumers greater satisfaction
Consumer behaviour is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The emerging costumer trends play an important role in analysing the marketing opportunities. A consumer buying behaviour is influenced by cultural, social and personal factors. The consumer passes through five stages of the buying decision process: Problem Recognition, Information Search, evaluation of alternatives, purchase decision and post purchase behaviour. This model is important for anyone making marketing decision and customer pass through all stages in every purchase.
In our study, we have analyzed the buying behaviour of consumers by interviewing 3 consumers – each for a different product variety. The first was a security guard who had bought a soap for Rs. 10. He was set on buying the same brand of soap and was not very keen on trying other brands. He has been using the product for a long time and was satisfied with the quality. Next, we interviewed the receptionist of a hostel who had bought a pair of shoes for approx. Rs. 1000. the primary factor influencing consumer behaviour in this case is the quality and long lasting performance of the product. There are other factors like price, awareness, information as well but these factors play a very marginal role in the ultimate decision making process. Lastly, we interviewed a senior analyst about a pair of headphones which he had purchased for Rs. 1150. We believe that this buy revealed a little bit about his personality. The respondent conducted thorough research and judged several parameters before converging on the product. He does not indulge in impulsive buying and considers products from several brands. He was not much worried about availability as he brought the product online.
As marketing students, we realized that understanding consumer buying behaviour offers consumers greater satisfaction