Executive Summary Consumer behaviours have changed over the years; this is shown by consumers today purchasing a more healthy variety of products‚ as information today is known about products that was not known many years ago. Factors such as these‚ change the way we perceive and value products‚ as we now are more knowledgeable as well as manufacturers having by law to print the ingredients and content of the products ingredients on the back of most food products‚ allowing consumers to become more educated
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Understanding Consumer Behaviour We’ll be implying 3 factors of consumer behaviour. The 3 factors are‚ * Consumer Purchase Decision Process * Consumer Involvement & Problem Solving Variation * Psychological Influence on Consumer Behaviour Consumer Purchase Decision Process The stages in which a consumer passes through in making a decision which product or service to buy is called the purchase decision process. This process consists of 5 stages. They are problem recognition
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somewhat paradoxical‚ because if we apply the matrix of Global Integration and Local Responsiveness pressures to the cement industry‚ we can clearly identify that the industry scores high on most of the factors that should have pushed it to globalization much earlier Factors These factors include large investment intensity‚ technology intensity in production‚ pressures for cost reduction‚ universal needs‚ presence of multinational competitors‚ and access to localized resources. But that matrix
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Psychological drivers of Consumer Behaviour 2.1. Motivation 2.1.1. Hierarchy of needs 2.1.2. Means-end chain 2.2. Perception 2.3. Learning 2.3.1. Behavioural learning 2.3.2. Cognitive learning 2.3.3. Brand loyalty 2.4. Beliefs and Attitudes 2.5. Lifestyle 3.0. Sociological drivers of Consumer Behaviour 3.1. Personal influence 3.2. Reference groups 3.2.1. Membership group 3.2.2. Aspiration group 3.2.3. Dissociative group 3.3. The family 3.4. Social class 3.5. Culture 4.0. Consumer Decisions Making process
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are within the direct control of the marketers. This doesn ’t mean that the other functional areas are not useful‚ but they are not "DIRECTLY" involved in the activities mentioned above. Similarly‚ within the study of Marketing Management‚ the "Consumers" or the "Customers" play a very critical role as these are the people who finally BUY the goods & services of the organisation‚ and the firm is always on the move to make them buy so as to earn revenue. It ’s crucial from both the points of view
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Consumer Behaviour : Module 1 Introduction: • Needs are the essence of Marketing Concept. • The key to a company’s survival ‚profitability & Growth in a highly competitive market place is its ability to identify and satisfy unfulfilled consumer needs better & sooner than their competitors. • Effective Marketing firm requires insights into consumer’s mind in order to succeed sustainably in today’s cut- throat competitive world. • CB is rapidly growing discipline of study and research by the
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change was because of two reasons. • The clutter in the large and midsize segment due to entry of many international players. • The small segment grew faster than the mid-size one‚ driven by the price-sensitive customer. Both the above factors had an enormous impact on mid-size car manufacturers. Stung by a sharp 80 per cent drop in sales between April and November 1997‚ over the corresponding period in 1996‚ Daewoo Motors slashed the price of its mid-size car‚ Cielo‚ by an unbelievable
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next six months‚ each of them offered big discounts and gifts (such as TV / audio systems) with the return ticket on different routes. The most profitable and commercially viable routes were the major targets of these price related competitions. The consumer was the ultimate beneficiary and in short time‚ the companies started facing losses due to this price-cutting. Star Airways had so far remained out of this ‘price-war’ and lost its market share on the competitive routes very rapidly. It was able
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Chapter 5: Consumer Markets and Consumer Buyer Behaviour Consumer buyer behaviour - Refers to buying behaviour of final consumers (individuals & households that buy goods and services for personal consumption) Consumer market - Total number of final customers Marketing stimuli consists of the 4Ps 1. Product 2. Price 3. Place 4. Promotion As well as other major forces in the buyer’s environment 1. Economic 2. Technological 3. Political 4. Cultural 5. Social Understand
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SYNOPSIS A Project report on consumer buying behavior (cbb) of t.v. sets Session 2009-11 Submitted by: Group # 03 section a PGDM (General) sem- 1 Submitted to: Ms Shivani Bali Faculty‚ Quantitative Methods for Management. TABLE OF CONTENTS Contents Page
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